Asahi Songwon Colors Limited, India's leading manufacturer of pigments for ink, plastics, paint, textile and paper industry, announced Q1 FY25 standalone revenue Rs. 89.83 crore, and Y-o-Y increase of 32.13%.

EBITDA of Rs. 210.33 crore during the quarter, a Q-o-Q growth of 27.94% and Y-o-Y increase of 1,033 times and Net Profit stood at Rs. 75.65 crore, a Q-o-Q growth of 42.99% and Y-o-Y increase of 309.26%.

Consolidated total revenue was Rs. 134.28 crore, Q-o-Q growth of 6.60% and Y-o-Y increase of 30.63%. EBITDA of Rs. 313.74 crore during the quarter, a Q-o-Q growth of 56.43% and Y-o-Y increase of 1,639.43%. Net Profit stood at Rs. 74.38 crore, a Q-o-Q increase of 382.94% and Y-o-Y increase of 174.81%.

Commenting on the Q1 FY25 performance, Gokul Jaykrishna, Joint Managing Director and CEO said, “As guided earlier, this was a better quarter for the Phthalocyanine pigments business. We recorded increased capacity utilisation, with the plant operating at higher capacity utilisations as compared to the previous quarters. The destocking phase is now behind us. However, we have not yet witnessed a strong demand pull or a significant jump in realisations."

"Our current focus for this business is to improve efficiencies and keep costs under control. We foreseen capital expenditure (Capex) in the coming years for the blue business and will continue maintaining our market share and strong leadership position in this sector.

From an overall consolidated position, we are nearing the end of our Capex cycle, barring a few debottlenecking projects in the AZO and API businesses. We will now start with the deleveraging of the balance sheet and continue to bring down debt levels at the consolidated level over the next two years," commented Jaykrishna.

Overall, we are now well-positioned. Our AZO business and API business have bottomed out and are showing signs of improvement with every passing quarter. We are optimistic about strong performance in FY25 compared to FY24," added Jaykrishna.

Arjun G. Jaykrishna, Executive Director said, “The AZO business performed better this quarter compared to the previous one. With growing capacity utilisation and stabilization of our products, we have decided to proceed with debottlenecking of yellow capacity and expand capacities by the end of the current fiscal year. We have also commenced commercial production of APIs at the Chhatral site and expect it to start contributing to sales  from Q3 of the current financial year. Overall, we are satisfied with the progress in the API and AZO businesses. Although the progress is a bit slow, our competitive position is improving with every passing quarter. In FY25, we are optimistic that both these businesses, API and AZO, will start contributing positively to the consolidated profitability of the company.”

Asahi Songwon Colors Ltd. is a leading player in the Indian pigment industry and is one of the leading manufacturers of pigments. The company manufactures CPC BetaBlue and BlueCrude. The company has also ventured into manufacturing AZO pigments as well as APIs through its subsidiaries.

The company caters to a diverse base of global and Indian customers with more than 50% of business from exports to global MNC's. It is currently manufacturing products for over 80 international and domestic customers. The company operates via its three manufacturing facilities in Gujarat located at (Padra),Vadodara (Dahej), Bharuch and (Odhav), Ahmedabad (manufacturing APIs).