Anupam Rasayan India Ltd., one of India’s leading custom synthesis and specialty chemical player, has announced its financial results for the quarter and year ended March 31, 2024. For the quarter ended March 31, 2024, Anupam Rasayan India reported Profit After Tax (PAT) was at Rs. 40.5 crore as compared to Rs. 72.6 crore, reflecting a degrowth of 44% YoY.

For Q4FY24 the company’s total revenue was at Rs. 413 crore as compared to Rs. 504.2 crore in Q4FY23; down 18% YoY. EBITDA (incl. other income) was at Rs. 104.7 crore in Q4FY24 as compared to Rs. 141.6 crore in Q4FY23, degrowth of 26% YoY, this would translate into 25% EBITDA margin in this quarter.

For the Year ended March 31, 2024, Anupam Rasayan India posted total revenue at Rs. 1505.3 crore as compared to Rs. 1610.5 crore in FY23; down 7% YoY. EBITDA (incl. other income) was at Rs. 410.9 crore  as compared to Rs. 439.9 crore in FY23 – degrowth of 7.0% YoY, this would translate into 27% EBITDA margin. Profit After Tax for FY24 was at 167.4 crore as compared to Rs. 216.8 crore in FY23 - degrowth of 23% YoY.

Speaking on the performance, Anand Desai, Managing Director, Anupam Rasayan commented, “Indian chemical industry including spec chem industry has faced significant headwinds during the last year. However, despite the de-growth in the top-line, we have been able to sustain our profitability and maintain margins at 27% levels on a full year consolidated basis. During the year, the Agro chemical industry in particular faced challenges, however our past sustained efforts in expanding our pharma and polymer portfolio have started yielding results leading to pharma contributing over 9% of revenue in FY24, up from 4% last year. We expect pharma and polymer segment each to further increase their revenue share in double digits by next year.

In FY2024, we have focused on expanding our customers, products and end market applications. We have added 17 new molecules, 4 new MNCs including 2 Japanese majors and expanded contribution from polymer and pharma which going forward will lead to balanced product portfolio from end market perspective.

We believe that headwinds in the industry may continue for the next two quarters. However, financial year 2025 will be a year of growth for us with our major focus on polymer and pharmaceutical space.”