Sudarshan Chemical Industries Limited reported drop in sales as well as profit in first quarter of the current year due to slowdown caused by the pandemic.

 

Consolidated net revenue of the company in Q1FY21 stood at Rs 352.29 crore, which declined by 14.22% yoy from Rs 410.69 crore in the same quarter last year.

 

Company's key revenue segment, pigments business saw a dip during the quarter and sales stood at  Rs 341.33 crore versus Rs 396.42 crore last year.

 

EBITDA stood at Rs 52.96 crore in Q1FY21 which decreased by 16.06% yoy. For Q1FY20, it had posted EBITDA of Rs 63.09 crore. EBITDA margin as of Q1FY21 was at 15.03% which declined by 0.33% yoy against the same quarter, the previous year.

 

The consolidated net profit in Q1FY21 came in at Rs 18.20 crore which declined by 57.38%, as compared to Q1FY20, when it had reported Rs 42.70 crore. The net profit margin in Q1FY21 came in at 5.17% which declined by 5.23% yoy. The net profit margin for Q1FY20 was at 10.4%.