Dyes & dyes intermediate manufacturer Bhageria Industries Ltd has bounced back with a solid growth in sales as well as profits in second quarter of the current fiscal.

 

The company posted a net profit of Rs.16.15 crores for the quarter ended Sept 30, 2020 as compared to a net profit of Rs. 5.70 crores for the quarter ended June 30, 2020, reflecting a growth of over 183% YoY. 

 

Meanwhile, total income for Q2 also jumped by over 100% YoY at Rs.106.80 crores as compared to Rs. 52.88 crores during the period ended June 30, 2020.

 

For six months ended Sept 30, 2020, the company has posted net profit of Rs. 21.86 crores as against net profit of Rs. 34.17 crores for the period ended September 30, 2019. 

 

The company has reported total income of Rs.159.69 crores during the six months period ended September 30, 2020 as compared to Rs. 212.89 crores during the same period last year. Meanwhile, EBITDA stands at Rs. 26.14 crore in September 2020 up 5.96% from Rs. 24.67 crore in September 2019.

 

In Q1 FY21, the company had posted a loss of Rs. 5.70 crore loss due to slower market demand caused by Covid-19 pandemic.

 

Incorporated in 1989, Bhageria Industries Limited is engaged in manufacturing of dye and dye-intermediates. The company has its plant located at Vapi and Tarapur. Vinyl Sulphone, H-Acid and Gamma Acid are major products of the company. Nearly 50% of the production is being exported worldwide to various clients including multinationals. Products are being exported to Korea, Japan, Taiwan, China, Germany, U.S.A & other European and African countries.