Chemplast Sanmar Ltd., a chloralkali manufacturer based in India announced its results for the third quarter ended December 31, 2021.
Q3 Results- QoQ
The company’s net profit grew 56.5% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.51 billion for the previous quarter.
Net sales decreased 13.6% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 16.95 billion during the previous quarter.
Q3 Results- YoY
The company’s net profit grew 48.1% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.59 billion during the prior-year quarter.
Net sales increased 34.2% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 10.91 billion during the prior-year quarter.
Chemplast Sanmar Ltd is engaged in the business of manufacture and selling PVC resins, Caustic Soda, Chlorochemicals, Refrigerant gas and Industrial Salt.
Ramkumar Shankar, MD, Chemplast Sanmar, said: “The demand outlook for both paste PVC and suspension PVC is quite strong due to significant deficit and high import dependence in the domestic market. Increasing tight supply at the global level for both these products augurs well for domestic manufacturers like us. With our dominant position in the Indian market and expansion plans to cater to the growing demand, we are well-placed to benefit from uptick in PVC market.”
“Custom manufacturing business is expected to benefit significantly due to China plus one strategy of global innovators,” Ramkumar said.