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HomeAgribusinessAnupam Rasayan India posts 44.26% drop in its consolidated net profit in Q4 FY23-24

Anupam Rasayan India posts 44.26% drop in its consolidated net profit in Q4 FY23-24

The company has posted total income Rs 413 crore in the January-March quarter of 2023-24 compared to Rs 504.2 crore in the year-ago period.

Chemicals maker Anupam Rasayan India Ltd., one of India’s leading custom synthesis and specialty chemical player, has announced its financial results for the quarter and year ended March 31, 2024.   Company has reported a 44.26 per cent fall in its consolidated net profit to Rs 40.46 crore for the fourth quarter of 2023-24. Company’s net profit stood at Rs 72.63 crore in FY 2023.

The company has posted total income Rs 413 crore in the January-March quarter of 2023-24 compared to Rs 504.2 crore in the year-ago period, a regulatory filing said.

 Anupam Rasayan posted a 23 per cent drop in consolidated net profit to Rs 167.4 crore for the full fiscal 2023-24 against Rs 216.8 crore in the previous fiscal. For the Year ended March 31, 2024, Anupam Rasayan India posted total revenue at Rs. 1505.3 crore as compared to Rs. 1610.5 crore in FY23; down 7 per cent YoY. Company’s Profit After Tax for FY24 was at 167.4 crore as compared to Rs. 216.8 crore in FY23 – degrowth of 23 per cent YoY.

“The chemical industry, including speciality chemicals, has faced significant headwinds during the last year. However, despite the de-growth in the top line, the company has been able to sustain its profitability and maintain margins at 27 per cent levels on a full-year consolidated basis”, said Anand Desai, Managing Director, Anupam Rasayan .

“We believe that headwinds in the industry may continue for the next two quarters. However, the financial year 2025 will be a year of growth for us with our major focus on polymer and pharmaceutical space,” he added.

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