Vishnu Chemicals Limited, manufacturer of high-performance specialty chemicals, has reported Q1 FY23 revenue growth of 83% to reach Rs. 361 crore whereas Profit After Tax (PAT) has shown a growth of 194% to reach Rs. 34 crore. Consolidated domestic and exports sales continue its growth trend, growing by 102% and 65% YoY.

In Chromium Chemistry, Q1FY23 was the first full quarter of operations of our backward integration unit, operating at upwards of 50% utilisation levels. Debottlenecking and capacity expansion at the existing plant is proceeding as planned and is expected to be completed by H1 FY23.

In Barium Chemistry, the company commenced operations at brownfield expansion in Q4FY22. The company achieved more than 10% higher production on a QoQ basis. For the remaining part of FY23, operating levels are expected to rise further.

The brownfield expansion to introduce a new speciality chemical to aid Barium portfolio diversification is on track and is expected to be commissioned by H1 FY24. The company is commissioning a solar power capacity at a subsidiary unit under the long-term power contract (OPEX) model as a step towards self-sufficiency and sustainability.

The company’s established market position, niche chemistry expertise, wide product range, diversified end-user industries and strong penetration will help boost future growth.

The company is delighted to report its latest quarterly performance. Our focus to maximize the benefits of our scale and experience in chemistry is reaping benefits. We are continuously improving our manufacturing processes that combine environmental and economic benefits by comprehensive use of resources and ability to handle complex reaction media. Over the years, Vishnu has built a fundamentally strong balance sheet, as well as a good liquidity position,” said Ch. Krishna Murthy, CMD, Vishnu Chemicals Limited.

“Vishnu Chemicals is consistently focused on manufacturing high quality speciality chemicals, combined with value-added sales and service, enhancing customer satisfaction which enables us to be the supplier of choice in the sector we operate. Our performance enhancing chemicals portfolio and strong emphasis on manufacturing is a clear differentiator that has been made possible due to years of R&D and hard work of our skilled work force. We are optimistic about our chemistry and positive about delivering value accretive returns from our operational canvas,” said Ch. Siddartha, JMD, Vishnu Chemicals Limited.