Polychem Ltd., a vinyl polymers 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 28.4% to Rs 0.58 crores ($0.08 million) for the period ended March 31, 2020 as against net profit of Rs 0.81 crores ($0.1 million) during the prior-year quarter.
Net sales declined 0.9% to Rs 9.15 crores ($1.2 million) during the period ended March 31, 2020 as compared to Rs 9.23 crores ($1.2 million) for the prior-year quarter.
Full-Year Results
The company’s net profit declined 15.5% to Rs 3.06 crores ($0.4 million) for the full-year period ended March 31, 2020 as against net profit of Rs 3.62 crores ($0.48 million) last financial year.
The company has reported total income of Rs 37.75 crores ($5 million) during the full-year period ended March 31, 2020, a 10.4% drop as compared to Rs 42.12 crores ($5.6 million) last financial year.
On the impact of the pandemic on its business, Polychem Ltd in its stock exchange filing said, “The impact assessment of COVID-19 is a continuing process, given the uncertainities associated with its nature and duration. The company will continue to monitor any material changesto future economic conditions and any actions to contain its spread or mitigate its impact whether government mandated or elected by the Company.”