Chemcon Speciality Chemicals Limited has reported total income of Rs. 80.9297 crores during the period ended December 31, 2022 as compared to Rs. 61.2079 crores during the period ended September 30, 2022.

 

The company has posted net profit of Rs. 11.3586 crores for the period ended December 31, 2022 as against net profit of Rs. 7.8237 crores for the period ended September 30, 2022.

 

The company has reported EPS of Rs. 3.10 for the period ended December 31, 2022 as compared to Rs. 2.14 for the period ended September 30, 2022.

 

The company has reported total income of Rs.80.9297 crores during the period ended December 31, 2022 as compared to Rs.51.8714 crores during the period ended December 31, 2021.

 

The company has posted net profit of Rs.11.3586 crores for the period ended December 31, 2022 as against net profit of Rs.13.4863 crores for the period ended December 31, 2021.

 

The company has reported total income of Rs.234.2309 crores during the 9 Months period ended December 31, 2022 as compared to Rs.174.4915 crores during the 9 Months period ended December 31, 2021.

 

The company has posted net profit of Rs.44.64 crores for the 9 Months period ended December 31, 2022 as against net profit of Rs.41.4683 crores for the 9 Months period ended December 31, 2021.

 

Commenting on the results, Kamal Aggarwal, Chairman & MD said, “The company has reported a resilient performance during the quarter with a revenue of Rs 76 crores, a growth of 54% on YoY basis led by an increase in realisation and a stronger contribution from the export market. Our core product, HMDS and CMIC business has continued to remain weak due to soft demand from pharmaceutical producers in India."

"We have been able to produce significant growth in both our bromides and new bromobenzene products on the back of healthy demand and better sourcing of key raw materials. BromoBenzene is a part of Organic Bromides, and is receiving good enquiries from global agrochemical players. We are awaiting regulatory approvals for a new pharmaceutical chemical, Guanine, at P9 Unit and expect to get a nod from them by the end of this quarter. We expect to begin production of other pharmaceutical chemicals which are primarily imported at the P10 Unit by end of Q1 FY24," commented Aggarwal.

"We expect the business momentum of HMDS & CMIC products to revive in the coming period as we expect the pharma industry to recoup well. Due to a demand-supply gap, India imports HMDS & CMIC significantly. Being a global leader of these pharmaceutical chemicals, we are well-positioned to capitalize on future opportunities. We have done meaningful investments over the years to increase the product offerings and will continue to do so to create long-term sustainable growth,” added Aggarwal.