Chembond Chemicals Limited has reported a dip in sales and profits in Q1 FY21. The company's net profit declined 8.66% and stood at Rs 3.69 crore as against Rs 4.04 crore during the corresponding period last year. The sales also declined 27.58% to Rs 51.50 crore as against Rs 71.11 crore last year.

 

During the period, the company's operations with respect to manufacturing, sales, supply chain, cashflows etc. were impacted due to COVID-19. Plants of the group operated at below capacity during this quarter. The offices and labs of the group started operations in line with the Unlock advisory. The uncertainties associated with the situation continue to evolve and the group is monitoring them closely, stated the company in its filing to exchanges.

 

The company is engaged in the manufacturing of a diverse range of specialty chemicals like water treatment, polymers, construction chemicals, high performance coatings, animal health and industrial biotech products.