Vipul Organics announces 2022-23 Q2 results

A 17.88% revenue increase in 2022-23 over 2021-22

Vipul organics has a global footprint in over 50 countries (unsplash)

Vipul Organics, a BSE-listed leading specialty Chemicals Company in the pigments and dyes segment, recently announced its Quarter 2 results for the financial year 2022-23. The total revenues in Q2 of 2022-23 stood at Rs 3,684.22 lakh, an increase of 17.88% from Q2 results of 2021-22. 

Total revenues in the year’s first half ending on 30 September 2022 was Rs. 7,477.60 lakh, an increase of 16.88% from the same period in 2021. Profit after tax stood at Rs. 42.10 lakh on a standalone basis and Rs. 41.71 lakh on a consolidated basis.

The company has been counted among the foremost manufacturers of pigments, dyestuff, lake colors, and pigment intermediaries / fast salts in the country. It has three manufacturing facilities spread across Maharashtra and has a global footprint in over 50 countries. Vipul Organics ended the financial year 2021-22 with revenues of Rs 135 crore, marking a 13% + growth compared to the previous financial year.

Total revenues in Q2 of 2022-23 stood at Rs. 3,684.22 Lakh

Commenting on the results, Vipul Shah, managing director at Vipul Organics said, “The global macroeconomic environment continues to be challenging and has been impacting our topline. We have been trying to deleverage ourselves by increasing focus on Indian business. To this effect, we have been strengthening our team size across domains and this is also reflected in the increase in our employee costs.”

Shah adds, “The input costs remain high for which we are in the process of backward integration. The beneficial results of these steps should start to be reflected in the near future. We are confident that we are on the right track for growth.”

2023 promises an interesting ride for print in India

Indian Printer and Publisher founded in 1979 is the oldest B2B trade publication in the multi-platform and multi-channel IPPGroup. While the print and packaging industries have been resilient in the past 33 months since the pandemic lockdown of 25 March 2020, the commercial printing and newspaper industries have yet to recover their pre-Covid trajectory.

The fragmented commercial printing industry faces substantial challenges as does the newspaper industry. While digital short-run printing and the signage industry seem to be recovering a bit faster, ultimately their growth will also be moderated by the progress of the overall economy. On the other hand book printing exports are doing well but they too face several supply-chain and logistics challenges.

The price of publication papers including newsprint has been high in the past year while availability is diminished by several mills shutting down their publication paper and newsprint machines in the past four years. Indian paper mills are also exporting many types of paper and have raised prices for Indian printers. To some extent, this has helped in the recovery of the digital printing industry with its on-demand short-run and low-wastage paradigm.

Ultimately digital print and other digital channels will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future. For instance, there is no alternative to a rise in textbook consumption but this segment will only reach normality in the next financial year beginning on 1 April 2023.

Thus while the new normal is a moving target and many commercial printers look to diversification, we believe that our target audiences may shift and change. Like them, we will also have to adapt with agility to keep up with their business and technical information needs.

Our 2023 media kit is ready, and it is the right time to take stock and reconnect with your potential markets and customers. Print is the glue for the growth of liberal education, new industry, and an emerging economy. We seek your participation in what promises to be an interesting ride.

– Naresh Khanna

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