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.
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.”