Vipul Organics Limited the BSE Listed Specialty Chemicals company announces Q1 results for FY 2023-2024

Press Release

20 Oct 2023

Revenues: QoQ up by 15.64% on a standalone and consolidated basis;

Profits: QoQ PAT Up 42.06% on standalone basis; Up 76.49% on Consolidated basis

Vipul Organics Limited, the BSE listed (VIPULORG / 530627) leading Specialty Chemicals company in the pigments and dyes segment, announced their Q1 results for FY 2023-24

Some of the key highlights are:

Total Revenues in Q1 of 2023-24 stood at Rs. 3,623.8 Lakh, up 15.64% from Q4 of 2022-23
PAT for Q1 of 2023-24 stood at Rs. 51.71 Lakh on a standalone basis, up 42.06% from Q4 of 2022-23 and Rs. 51.34 Lakh on a consolidated basis, up 76.49% from Q4 of 2022-23
Standalone EPS stood at 0.40 per share, up 42.85% from Q4 of 2022-23 and up 60% on a consolidated basis from Q4 of 2022-23.

Financials at a glance:

Quarterly Results: (QoQ)

(Rupees in Lakhs except EPS)

	Q1, 2023-24		Q4, 2022-23
	Standalone	Consolidated	Standalone	Consolidated
Total Revenue	3623.80	3623.80	3133.64	3133.64
PBT	70.08	69.71	53.35	52.72
PAT	51.71	51.34	36.40	29.09
EPS	0.40	0.40	0.28	0.25

Quarterly results (YoY)

(Rupees in Lakhs except EPS)

	Q1, 2023-24		Q1, 2022-23
	Standalone	Consolidated	Standalone	Consolidated
Total Revenue	3623.80	3623.80	3793.38	3793.38
PBT	70.08	69.71	153.15	152.85
PAT	51.71	51.34	106.08	105.78
EPS	0.40	0.40	0.82	0.82

Commenting on the results, Mr. Vipul Shah, Managing Director, Vipul Organics Limited, said: “Our Quarter on Quarter sales and PAT have shown a healthy growth. The positive effect of Economies of Scale has also started kicking in, which is reflected in the increase in Profits. We are witnessing green shoots emerging in the International Markets, with US showing signs of recovery, while the European Markets continue to be challenging. The response from domestic markets continues to be encouraging. The focus on the right mix of Exports and domestic sales has started to pay off. We are confident that we will be able to maintain a healthy growth of 15-18% during the remaining part of the year”

“Our Expansion plans are on track. We have executed the lease papers for our Greenfield project at Sakhya, Gujarat. The coming years are going to be exciting for Vipul Orgaincs, with tailwinds in the Pigments segment of the Chemical Industry. As we embark on the next 50 years of Vipul Organics’ journey, we believe that we will be able to set new benchmarks in the Indian Pigment and Dye Industry”, Mr. Shah adds.