Mangalam Organics Ltd., a chemicals manufacturer based in India announced its results for the second quarter ended September 30, 2021.
Q2 Results- QoQ
The company’s net profit grew 49% to Rs 22.31 crores ($3 million) for the period ended September 30, 2021 as against net profit of Rs 14.98 crores ($2 million) for the previous quarter.
Net sales increased 36% to Rs 143.85 crores ($19.1 million) during the period ended September 30, 2021 as compared to Rs 105.95 crores ($14.1 million) during the previous quarter.
Q2 Results- YoY
The company’s net profit grew 55.7% to Rs 22.31 crores ($3 million) for the period ended September 30, 2021 as against net profit of Rs 14.33 crores ($1.9 million) for the prior-year quarter.
Net sales increased 66.7% to Rs 143.85 crores ($19.1 million) during the period ended September 30, 2021 as com-pared to Rs 86.30 crores ($11.5 million) during the prior-year quarter.
Half-Year Results- YoY
The company’s net profit grew 68.4% to Rs 37.30 crores ($5 million) for the 6 months period ended September 30, 2021 as against net profit of Rs 22.15 crores ($2.9 million) for the prior-year 6 months period.
Net sales increased 85% to Rs 249.80 crores ($33.2 million) during the 6 months period ended Septem-ber 30, 2021 as compared to Rs 135.21 crores ($18 million) during the prior-year 6 months period.
Mangalam to Double Camphor Production Capacity to 10,000 MTPA
As a part of modernizing and continuously deploying new technologies at the Company’s manufacturing facility located at Kumbhivali village, Maharashtra Mangalam Organics Limited has commissioned new Steam Boilers and Thermopac.
The Company will be able to produce 10,000 MT per annum of Camphor from present capacity of 5,000 MT per annum with effect from January, 2022.
The above technological improvements and developments have been financed through Internal Accruals.