Alkyl Amines Chemicals Limited., a Indian aliphatic amines manufacturer announced its results for the second quarter ended Sept 30, 2022.
Q2 Results- QoQ
The company’s net profit declined 36% to Rs 524.1 million for the period ended Sept 30, 2022 as against net profit of Rs 818.8 million for the previous quarter.
Net sales decreased 13.9% to Rs 4.11 billion during the period ended Sept 30, 2022 as compared to Rs 4.77 billion during the previous quarter.
Q2 Results- YoY
The company reported 3% drop in net profit to Rs 524.1 million for the period ended Sept 30, 2022 as against net profit of Rs 540.9 million for the prior-year quarter.
Net sales increased 16.5% to Rs 4.11 billion during the period ended Sept 30, 2022 as compared to Rs 3.52 billion during the prior-year quarter.
H1 Results- YoY
The company reported 1.3% growth in net profit to Rs 1.34 billion for the period ended Sept 30, 2022 as against net profit of Rs 1.32 million for the prior-year 1st half period.
Net sales increased 19% to Rs 8.88 billion during the period ended Sept 30, 2022 as compared to Rs 7.46 billion during the the 6 months period last year.
New Plants at Kurkumbh, Maharashtra and Dahej, Gujarat
The company as announced that its board has approved for setting up of new plants for adding new products in specialty chemicals and amine derivatives business, at existing facilities at Kurkumbh, Maharashtra and Dahej, Gujarat.
“The Company has established a leading position in domestic market and a presence in international market with reputation for reliable services and quality products. With the growing demand for Company’s products and to increase the product base, the Board of Directors has approved the capital investment for setting up plants for manufacture of new products in specialty chemicals and amine derivatives business, at Kurkumbh, Maharashtra and Dahej, Gujarat,” the company said in a statement.
A capacity of 25,000 MT to 30,000 MT per annum for additional manufacture of new products in specialty chemicals and amine derivatives business, at existing facilities at Kurkumbh, Maharashtra and Dahej, Gujarat is planned.
The proposed capacity is to be added within a period of 3 months to 24 months at an investment of Rs 2 to 2.5 billion.
The rationale behind the capacity expansion is too increase the product base to meet the increasing demand in domestic market and replace the imports gradually.
Alkyl Amines Chemicals Limited is a leading player in the Indian fine chemicals sector engaged in the manufacture and sale of aliphatic amines and its derivatives. The company supplies amines and amine-based chemicals to the pharmaceutical, agrochemical, rubber chemical and water treatment industries among others.