Vinati Organics Limited., a Indian organic chemicals manufacturer announced its results for the second quarter ended Sept 30, 2022.
Q2 Results- QoQ
The company’s net profit grew 14.6% to Rs 1.16 billion for the period ended Sept 30, 2022 as against net profit of Rs 1.01 billion for the previous quarter.
Net sales increased 11.8% to Rs 5.66 billion during the period ended Sept 30, 2022 as compared to Rs 5.06 billion during the previous quarter.
Q2 Results- YoY
The company reported 42.7% growth in net profit of Rs 1.16 billion for the period ended Sept 30, 2022 as against net profit of Rs 813 million for the prior-year quarter.
Net sales increased 51.34% to Rs 5.66 billion during the period ended Sept 30, 2022 as compared to Rs 3.74 billion during the prior-year quarter.
Company’s largest product by sales, ATBS (Acrylamide tertiary butyl sulfonic acid) had stable growth during the quarter. The margins for the product continued to grow during the quarter.
Commissioning of 2000 MT of MEHQ & Guaiacol and 30000 MT of Iso Amylene have been completed during the quarter.
Expansion of ATBS capacity from 40000 MT to 60000 MT with a capex of Rs 3 billion is in progress.
H1 Results- YoY
The company reported 33.9% growth in net profit to Rs 2.17 billion for the period ended Sept 30, 2022 as against net profit of Rs 1.62 billion for the prior-year 1st half period.
Net sales increased 41% to Rs 10.72 billion during the period ended Sept 30, 2022 as compared to Rs 7.6 billion during the the 6 months period last year.
Vinati Organics Limited is a leading player in the Indian chemical industry engaged in the manufacture and sale of organic chemicals such as Speciality Aromatics, Speciality Monomers, Butyl Phenols, Other Speciality Products and Miscellaneous Polymer.