Categories Earnings, Other Industries

Earnings | Anupam Rasayan India Ltd (NSE:ANURAS): Q3FY23 Results Out; Total Income rise 43% YoY

Anupam Rasayan India Ltd (NSE:ANURAS) is a specialty chemicals company based in India. It provides custom synthesis and manufacturing solutions to companies across various industries such as agrochemicals, pharmaceuticals, and dyes & pigments.

Anupam Rasayan India Ltd is an agrochemicals company that recently announced its financial results for the third quarter of FY23, ended December 31, 2022. During the quarter, the company reported strong revenue growth, with operating revenues of Rs 3,827 million, up 44% YoY from Rs 2,662 million in Q3FY22. Total revenues also increased by 43% YoY to Rs 3,888 million from Rs 2,711 million in Q3FY22. The company attributed this growth to strong demand for its products in both domestic and export markets. In terms of profitability, the company reported EBITDA (including other revenue) of Rs 1,080 million, up 35% YoY from Rs 800 million in Q3FY22. Profit After Tax (PAT) also increased by 44% YoY to Rs 544 million from Rs 379 million in Q3FY22.

Looking at the company’s financial performance on a half-yearly basis, it reported total income of Rs 1106.2 crore during the 9 Months period ended December 31, 2022, up 45% YoY from Rs 764.2 crore during the same period in 2021. Net profit for the period was Rs 124.1 crore, up 17% YoY from Rs 106 crore in the same period last year. The company’s EPS for the period was Rs 14.03, up 33% YoY from Rs 10.57.

The company has continued to show a strong financial performance, with growth in both revenue and profitability. The demand for its products in both domestic and export markets is a positive sign for the company’s future growth prospects.

Anand Desai, Managing Director of Anupam Rasayan, commented, “I am pleased to inform you that despite unavailability of the certain capacities during the quarter, we were able to deliver growth on YoY basis. If you adjust the deferred revenue due to capacity constrain then our growth would have been around 25% during the quarter. I am delighted to share that we have received approval to restart the plant from the GPCB and other regulatory authorities after following all the regulatory and safety compliances. This shows our unwavering focus on compliance and maintaining high levels of manufacturing and safety standards, which has helped us get the closure order lifted within a shorter time span. We continue to strengthen our business development team as we have a strong pipeline of products to launch in coming quarters. Our customer interactions remain very encouraging, and we have specifically seen strong interest from various customers on the fluorination side. Overall, our strong pipeline of products, availability of the capacity, advance stage discussion with various clients along with capex which is moving ahead of the plan makes me confident of delivering strong and sustainable growth in coming quarters and years.”

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