India Gelatine & Chemicals Ltd., a gelatin manufacturer based in India, announced its results for the quarter and financial year ended March 31, 2020.
Q4 Results
The company has posted a net loss of Rs 1.45 crores (-$0.19 million) for the period ended March 31, 2020 as against net profit of Rs 1.75 crores ($0.23 million) for the period ended March 31, 2019.
The company net sales increased 33.2% to Rs 33.12 crores ($4.4 million) during the period ended March 31, 2020 as compared to Rs 24.87 crores ($3.3 million) during the period ended March 31, 2019.
Full-Year Results
The company’s net profit declined 7% to Rs 5.35 crores ($0.7 million) for the full-year period ended March 31, 2020 as against net profit of Rs 5.75 crores ($0.8 million) for the full-year period ended March 31, 2019.
Net sales increased 17.1% to Rs 135.36 crores ($18.2 million) during the full-year period ended March 31, 2020 as compared to Rs 115.56 crores ($15.5 million) during the full-year period ended March 31, 2019.
The company has reported EPS of Rs 7.55 ($0.1) for the full-year period ended March 31, 2020 as compared to Rs 8.11 ($0.11) for the full-year period ended March 31, 2019.
The Company said that it has “assessed the probable impact of covid 19 pandemic.”
“On the basis of its present assessment and current indicators of future economic conditions, the Company expects to recover the carrying amounts of these assets and does not anticipate any material impact on these financial results,” the company said.
“However, the assessment of impact of COVID-19 is a continuing process, given the uncertainties associated with its nature and duration. The company will continue to monitor any material changes to future economic condition,” it further added.