Epigral Ltd. (Formerly Meghmani Finechem Ltd) has reported consolidated financial results for the period ended September 30, 2023.

Epigral has reported total income of Rs. 479.15 crores during the period ended September 30, 2023 as compared to Rs. 456.41 crores during the period ended June 30, 2023. The company reported total income of Rs.557.20 crores during the period ended September 30, 2022.

Epigral has posted net profit of Rs. 37.99 crores for the period ended September 30, 2023 as against net profit Rs. 31.50 crores for the period ended June 30, 2023. The company has posted net profit of Rs.91.56 crores for the period ended September 30, 2022.

“We witnessed sales volume growth both on YoY and QoQ basis. This led to 5% revenue growth and 20% PAT growth in the sequential quarter, despite a drop in realizations. Our capex commissioned last year contributed to this volume growth even in this tough business environment. We have been witnessing green shoots in the quarter gone by and areexpecting further improvement in quarters to come; Epigral is well placed to reap the benefits on account of contribution from the Derivatives & Specialty segment and the capex commissioned last year and all our future expansion plan.

“As we had conveyed in the past, we are moving towards Derivatives & Specialty segment. In line with that our revenue contribution from Derivatives & Specialty segment has increased to 46% in Q2FY24 vs 29% for a similar quarter last year. We are committed and focused to diversify our business model and bring consistent growth.

“Our capex for new projects are on schedule and will get commission on committed timelines and will drive growth for FY2025. The R&D center is another strong pillar for our future growth in the Specialty Chemical segment.

“We believe that the demand scenario has improved a bit and will improve further from coming quarters and Epigral willexecute its expansion plans in line with that to grab the market opportunities,” Maulik Patel, CMD, Epigral, said.

For the Half Year ended September 30, 2023, Epigral has reported total income of Rs.935.56 crores as compared to Rs.1092.08 crores during the 6 Months period ended September 30, 2022.

The company has posted net profit of Rs.69.50 crores for the 6 Months period ended September 30, 2023 as against net profit of Rs.199.36 crores for the 6 Months period ended September 30, 2022.