Vishnu Chemicals Limited has reported Q2 FY23 total income of Rs. 375 crore, up 55% from Q2 FY22 whereas profit for Q2 FY23 was Rs. 35 crore, up 111% from Q2 FY22. 

Consolidated domestic and exports sales continued its growth trend, growing by 57% and 53% YoY. Debt to Equity reduced to 1.0 from 1.3 in FY22.

The company continues to improve its working capital efficiency resulting in reduction in inventory & debtor days. The Board approves 1:5 stock split.

The standalone domestic and exports sales continue its growth trend, growing by 64% and 62% YoY in Chromium chemistry. Debottlenecking has led to capacity increase by 10,000 TPA, an increase of around 14% on our existing plate capacity. Production started from Q2 FY23.

On Barium chemistry, the company is focused on balancing its sales mix geographically by increasing its market share in India which would mitigate geography risk in the long term. 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. Solar power capacity under the OPEX model is on track and is expected to be completed in H2FY23.

“The second quarter was another record performance for Vishnu Chemicals, as the company demonstrated resilience amidst macro environment due to its diversified product and application mix. Stepping back, in the second quarter, we continued to demonstrate our ability to make progress on our clear operational priorities. With our targeted investments, we will continue to drive long-term growth above market growth rates by providing value to our customers around the world,” said Ch. Krishna Murthy, CMD, Vishnu Chemicals Limited.

Ch. Siddartha, JMD, Vishnu Chemicals Limited said, “I am pleased with our execution in the second quarter, as we focused on productivity for our customers in their tough time, which has never been more important than it is today. But there is still a significant amount of work to be done. The momentum we have is clearly evident with our ROCE levels and working capital efficiencies making us the most efficient producer in our chemistries globally, which we will continue to monitor and improve. We have industry-leading expertise, a global footprint, and clear priorities with plenty of runway for growth.”