Vipul Organics revenues marginally up despite multiple headwinds

Vipul Organics, a leading specialty chemicals company in the pigments and dyes segment, has announced its annual results.

05 Jun 2023 | By Rahul Kumar

The company has also announced a dividend of 9% on each share

On a standalone QoQ basis, the company’s Q4 revenues were up by 12.37%, PAT was up by 181%, due to the focus on value-added products and increased sales in the domestic market. The total revenues were at Rs 13,399.73-lakh, marginally up from Rs 13,386.44-lakhs from 2021-2022. The domestic sales increase by over 35% YOY to Rs 44.75-crore from Rs 33.11-crore. 

The company has also announced a dividend of 9% on each share.

Vipul P Shah, managing director, Vipul Organics, said, “The financial year 2022-23 was a challenging one for us as well as the entire chemical industry with multiple headwinds. We have taken steps to derisk our business from global turbulence by increasing our domestic business and bringing value-added products. Today, over 30% of our top line comes from domestic markets.”

Shah added, “We are in the process of creating a pan-India footprint for our products by strengthening our distribution network. We have increased our production capacities and entered new verticals like paper, special applications, etc. While we are seeing green shoots in the economy in India as well as globally, the challenges remain. We are all geared up to take advantage of the improvement in Macroeconomic factors. We are hopeful that the coming year will be better and we will be back to a growth rate of 15-20%.”

With an increased focus on domestic markets, Vipul Organics aspires to be a truly global company with the ability to service Export markets as well as the booming domestic markets with the best in category pigments and dyes for varied colouring usage across sectors.

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