National Peroxide Ltd., a peroxide manufacturer based in India announced its results for the quarter and financial year ended March 31, 2020.
Q4 Results
The company’s net profit decreased 82.7% to Rs 3.03 crores ($0.4 million) for the period ended March 31, 2020 as against net profit of Rs 17.49 crores ($2.3 million) during the prior-year quarter.
Net sales declined 33% to Rs 50.28 crores ($6.7 million) during the period ended March 31, 2020 as compared to Rs 74.98 crores ($10 million) during the prior-year quarter.
Full-Year Results
The company’s net profit declined 88.4% to Rs 17.91 crores ($2.4 million) for the full-year period ended March 31, 2020 as against net profit of Rs 153.79 crores ($20.5 million) for the last financial year.
The company has reported net sales of Rs 209.18 crores ($27.9 million) during the full-year period ended March 31, 2020, a decline of 50.4% as compared to Rs 421.38 crores ($56.2 million) during the last financial year.
The company has reported earnings per share of Rs 31.17 ($0.42) for the full-year period ended March 31, 2020 as compared to Rs 267.61 ($3.6) for the last financial year.
On the impact of the pandemic on its business, National Peroxide in its stock exchange filing said, “The spread of COVID-19 disease has severely impacted economies, businesses and social set ups across the globe and in India. The spread of COVID-19 and the consequent lockdowns, disruptions in transportation and supply chains, travel bans, quarantines, social distancing and other such emergency measures have caused widespread disruptions in the economy and businesses.
Based on the Company’s liquidity position at March 31, 2020 and review of cash flow projections over the next twelve months, the management believes the Company will have sufficient liquidity to operate its businesses in the ordinary course. However, the impact assessment 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 conditions.”