Chemcon Speciality Chemicals Ltd., a chemical manufacturer based in India announced its results for the second quarter ended September 30, 2021.
Q2 Results- QoQ
The company’s net profit grew 8.6% to Rs 145.69 million for the period ended September 30, 2021 as against net profit of Rs 134.13 million for the previous quarter.
Net sales increased 7.3% to Rs 634.91 million during the period ended September 30, 2021 as compared to Rs 591.47 million during the previous quarter.
Q2 Results- YoY
The company’s net profit dropped 6.5% to Rs 145.69 million for the period ended September 30, 2021 as against net profit of Rs 155.81 million for the prior-year quarter.
Net sales increased 3% to Rs 634.91 million during the period ended September 30, 2021 as compared to Rs 616.78 million during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit increased 14.6% to Rs 279.82 million for the 6 months period ended September 30, 2021 as against net profit of Rs 244.18 million for the prior-year 6 months period.
Net sales increased 14.03% to Rs 1.23 billion during the 6 months period ended September 30, 2021 as compared to Rs 1.08 billion during the prior-year 6 months period.
Mr. Kamal Aggarwal, Chairman & MD said, “We are pleased to share that we have delivered another quarter of positive performance as all our key products witnessed robust demand. We have clocked a total operating revenue of Rs 612 million for the quarter. After the backward integration of P7 and P8 unit completed, the HMDS business began operating at full capacity and reported a notable figure for the quarter. On the other hand, Bromide & CMIC business continued to maintain its business momentum.
During the quarter, we were obstructed with an unfortunate external incident. Due to this external incident, GPCB had issued a closure notice which led to production loss. Although, we had 15-20 days of finish goods inventory which had been dispatched to clients on prerequisite schedule and the impact in Q2FY22 was insignificant. The same has been revoked last week and currently, all our facilities are running at full capacity.
Expansion of P8 & P9 facilities has been completed and will be ready for a trial run from next week onwards. We expect these units to fully commercialize from Jan-22. We are also delighted to announce that we have initiated the expansion of P10 unit at the same location for other few pharma intermediate products. We are targeting this facility to come onstream by FY23. We are well positioned to benefit from India’s structural position as a leading supplier of chemical products to global MNCs.”
Chemcon Speciality Chemicals Ltd is engaged in the business of manufacture and selling Hexamethyldisilazane (HMDS), Chloromethyl Isopropyl Carbonate (CMIC) and inorganic bromides.