June 22, 2024
Financial Results

Vipul Organics Sees Bright Future Amid Sectoral Growth: Vipul Shah

Vipul Organics Limited, a leading specialty chemicals company in the pigments and dyes segment, has announced its annual results for FY24 with impressive growth and promising outlooks across various fronts. Total revenues for FY24 reached Rs. 15,099.30 lakhs, up by 12.68% from the previous fiscal year. Profit Before Tax (PBT) surged by 68.87% on a standalone basis and 69.53% on a consolidated basis, reaching Rs. 463.88 lakhs. Profit After Tax (PAT) also recorded substantial growth, increasing by 69.31% on a standalone basis and 78.43% on a consolidated basis, amounting to Rs. 334.44 lakhs. The company declared a dividend of 10% on each equity share, totaling Rs. 1 per share. Earnings Per Share (EPS) expanded by 68.83% on a standalone basis and 77.24% on a consolidated basis.

In terms of quarterly performance, total revenues for Q4 of FY24 stood at Rs. 4,054.31 lakhs, marking a 7.8% increase from Q3 of FY24. Both standalone and consolidated PBT and PAT saw significant quarterly growth, with PBT up by 19.91% and PAT up by 34.15% on a standalone basis, and PBT up by 19.48% and PAT up by 34.77% on a consolidated basis. When compared to Q4 of FY23, total revenues for Q4 of FY24 increased by 29.38%. PBT and PAT witnessed substantial year-on-year growth, with PBT up by 192.82% on a standalone basis and 195.18% on a consolidated basis, and PAT up by 193.74% on a standalone basis and 269.10% on a consolidated basis.

Vipul Shah, Managing Director of Vipul Organics Limited, expressed optimism regarding the company’s performance, highlighting robust growth and margin expansion both quarter-on-quarter and year-on-year. He emphasized the company’s focus on new verticals like Paper, Cosmetics, and Seed Coloring, as well as the introduction of value-added products, contributing to margin enhancement. Additionally, he mentioned the groundbreaking ceremony for a new greenfield facility in Gujarat, which is expected to significantly enhance manufacturing capacities upon completion in FY25-26. Mr. Shah also noted promising signs in the chemical sector and the company’s readiness to capitalize on the sector’s potential upturn in the coming years.

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