Chemcon Speciality Chemicals Limited (CSCL), a leading manufacturer of specialized chemicals, such as Hexamethyldisilazane (HMDS), Chloromethyl Isopropyl Carbonate (CMIC) and inorganic bromides, has reported Q1 FY23 revenue of Rs. 89.4 crore, a growth of 56% on a YoY basis.

Commenting on the results, Kamal Aggarwal, Chairman & MD, Chemcon Speciality Chemicals Limited said, “We are delighted to report the highest ever quarterly performance led by healthy demand across the product portfolio. For Q1 FY23, we have registered a revenue of Rs 89.4 crore, a growth of 56% on YoY basis. Both HMDS and CMIC are gaining traction and are currently performing satisfactorily. CMIC's newly expanded capacity is also contributing to the growth, and production is expected to ramp up in the coming quarters. On the other hand, the Bromide chemicals have recorded a strong performance on the back of a high-order book. We anticipate consistent performance from these chemicals in the coming months."

"Commercial production of P9 plant is expected to be commercialized by end of Q2 FY23 whereas we are targeting P10 plant to commence by end of this financial year. Post expansion program, we will be well prepared to arrest the upcoming opportunities not only for existing products but also for new products. Some of the new products which we are targeting are primarily imported substitutions," commented Aggarwal.

"Our technological expertise has propelled us to the forefront throughout the years, and we are well positioned to capitalize on prospects in pharmaceutical chemicals. We are persistently working to restore business growth and extend our product offering to our clients. India is still a net importer of numerous pharmaceutical chemicals, so there is vast headroom for a manufacturer like us to establish ourselves as a long-term trusted and sustainable partner,” added Aggarwal.

The board of directors has approved the payment of Interim dividend of Rs. 4 per share of face value of Rs. 10/- each (@ 40% of face value of share) for the FY 2022-23.