India’s Indo Borax and Chemicals Reports 142% Net Profit Growth for Q4 FY20-21

Indo Borax and Chemicals Ltd, a chemicals manufacturer based in India announced its results for the final quarter & year ended March 31, 2021.

Q4 Results

The company’s net profit grew 142% to Rs 12.6 ($1.7 million) for the period ended March 31, 2021 as against a net loss of Rs 5.21 crores ($0.71 million) for the period ended March 31, 2020.

Net sales grew by 67% to Rs 48.04 crores ($6.6 million) during the period ended March 31, 2021 as compared to Rs 28.85 crores ($3.9 million) during the period ended March 31, 2020.

Full-Year Results

For the full-year period ended March 31, 2021, the company’s net profit increased by 102.2% to Rs 34.25 crores ($4.7 million) as against Rs 16.94 crores ($2.3 million) for the full-year period ended March 31, 2020.

The company’s net sales grew 23% to Rs 147.79 crores ($20.2 million) during the full-year period ended March 31, 2021 as compared to Rs 120.34 crores ($16.4 million) during the full-year period end-ed March 31, 2020.

The company is primarily engaged in manufacturing and trading of borax, boric acid and lithium hydroxide.