By ICN GroupChemical, May 22, 2020
Jubilant Industries Q4FY20 net revenue down by 12%
As per the company, the outbreak of Coronavirus (COVID-19) globally and in India and subsequent lockdown by the Government of India has impacted business operation of the group.
Jubilant Industries Q4FY20 net revenue was down by 12% to reach Rs.125.31 crore in comparison to Rs.142.64 crore in Q4FY19. The company posted net profit of Rs.1.87 crore as against Rs.5.16 crore 2019.
Net revenue for the year ended March 2020 was down by 2% to Rs. 546.15 crore compared to Rs. 559.57 crore in the previous financial year. While the company posted net profit of Rs.17.17 crore as against Rs. 3.02 crore in 2019.
As per the company, the outbreak of Coronavirus (COVID-19) globally and in India and subsequent lockdown by the Government of India has impacted business operation of the group except fertilisers division, by way of interruption in production, supply chain disruption, unavailability of personnel, closure/ lockdown of production facilities etc. Further the company operations have been resumed in a phased manner at various locations taking cognizance of the Government's views around resuming manufacturing activities with controlled entry and exit facilities, and after obtaining necessary permissions in this behalf.
The company continues to monitor changes in economic conditions and is prepared to take corrective measures to safeguard its business and operations.
Jubilant Industries Ltd. is the flagship company of Agri and Performance Polymers business of the Jubilant Bhartia group. The company's diversified portfolio includes a wide range of Crop Nutrition, Crop Growth and Crop protection Agri products and Performance Polymers products comprising consumer products like adhesives, wood finishes; food polymers and latex such as Vinyl Pyridine, SBR and NBR latex.