By: ICN Bureau
Last updated : August 02, 2023 8:40 am
Q1FY24 Total Revenue of Rs 398. 8 crore, growth of 19% YoY
Anupam Rasayan India Ltd., one of India’s leading custom synthesis and specialty chemical player, has announced its financial results for the quarter ended June 30, 2023.As per consolidated financial highlights for quarter ended June 30, 2023, total revenue at Rs. 398.8 crore in Q1FY24 as compared to Rs. 334.3 crore in Q1FY23 – growth of 19% Y-o-Y. Profit After Tax at Rs. 52.3 crore in Q1FY24 as compared to Rs. 42 crore in Q1FY23 - growth of 25% Y-o-Y.
Speaking on the performance, Anand Desai, Managing Director, Anupam Rasayan commented, “I am delighted at the consistent growth momentum of the Company against a challenging industry backdrop. Our consolidated revenue witnessed robust 19% Y-o-Y growth at Rs 3,988 Mn. While the falling prices of commodity agrochemicals are putting pressure on margins for the industry, our customised products and robust business model helped us deliver strong EBITDA margins of 29% in Q1 FY24.
During the quarter, Anupam Rasayan signed an MoU with 3xper Innoventure Ltd., for the supply of targeted and identified new-age pharma molecules using continuous process. The Company has also signed Letters of Intent (LOIs) worth Rs 40,660 Mn with Japanese and American MNCs for niche life sciences and specialty chemical molecules. These LOIs reinforce the growing confidence of global MNCs in our technical capabilities and think of us as the trusted partner of choice for high-end customised molecules. These LOIs improves our revenue visibility in the coming years.
Our order book remains strong despite a challenging external environment, giving us the confidence to deliver robust growth in FY24 while maintaining margins.”