Vipul Organics announced its quarterly results. Net sales have gone up 4.14 percent at Rs 38.88 crore in March 2022 rom Rs. 37.34 crore in March 2021.
The specialty chemicals company in the pigments and dyes segment, quarterly net profit is up 30.36 percent at Rs. 2.23 crore in March 2022 against Rs. 1.71 crore in March 2021.
EBITDA is up 10.43 percent at Rs. 5.08 crore in March 2022 from Rs. 4.60 crore in March 2021.
Commenting on the results, Vipul Shah, Managing Director, Vipul Organics Limited, said: “We faced headwinds in the form of increasing raw material costs due to global crisis. The pandemic also affected our working as we were not able to utilise our production capacities to the optimal for the entire year. However, we are on track and have added new clients during the year and have a strong pipeline of orders.”
Speaking on the future outlook for Vipul Organics, Shah added: “We are targeting a CAGR of 25 percent in revenues in the coming years and are confident that barring unforeseen circumstances, we will achieve this. We have undertaken major capex over the last couple of years but were not able to take advantage of the increased production capacities due to the Pandemic and Global crisis that we are facing now. We will see the full impact of the increased capacities this year and going forward. We are currently working at 70-80 percent of our installed capacity and plan to increase this to around 90 percent. Our product mix is also undergoing a change and we are constantly trying to reach up the value chain. We are also exploring other overseas market besides the 50+ countries that we are already exporting to. We will see a margin expansion due to these efforts.”
The company has issued bonus shares in the ratio of 1:4 and also declared a ESOS (Employee Stock Option Scheme) for its employees.