By: ICN Bureau
Last updated : May 03, 2023 8:02 pm
The company’s consolidated total income stood at Rs. 1406 crore for FY23, up 31% from Rs. 1075 crore in FY22.
Vishnu Chemicals Limited, one of India’s leading speciality Chemicals manufacturers, delivered a remarkable performance in FY23, with a 31% increase in consolidated total income and 68% surge in consolidated net profit compared to FY22. Consolidated EBITDA stood at Rs. 245 crores, up 52% compared to Rs. 61 crores in FY22.
On standalone basis, the company posted net profit of Rs. 129 crore in FY23 compared to Rs. 65 crore in FY22.
In an encouraging development, 31.1% promoter pledge was released by the lenders. With the positive outlook from the chemical sector coupled with its own competitive advantages, Vishnu Chemicals seems poised to show remarkable performance and weather any headwinds.
The company’s consolidated total income stood at Rs. 1406 crore for FY23, up 31% from Rs. 1075 crore in FY22. Vishnu Chemicals reported all time highest consolidated PAT margin of 9.7% in FY23.
Siddartha Cherukuri, Joint Managing Director of Vishnu Chemicals, said, “We are pleased to deliver on our commitments to achieve growth. Over the last three years, we have achieved a PAT CAGR of over 80 percent with our focus on manufacturing and process improvement to achieve better yields.”
According to Krishna Murthy Cherukuri, CMD of the company, “We focus on our business as a whole not only the production assets but also the logistics, marketing and talent development. The growth is driven by differentiated premium assets and efficient production processes. The Company is adopting environmental friendly and sustainable process improvements in its manufacturing process.”
“We would like to express our gratitude to our stakeholders for their continued support and remain committed to the highest level of corporate governance and ethics,” added Mr. Murthy.
With a track record of more than 30 years, Vishnu Chemicals is a manufacturer of high performance speciality chemicals supplying to more than domestic and international customers across 12 industries like pharmaceutical, textiles, electroplating, wood, paper, detergents, textiles, ceramics, tiles and glass.