Total Revenues marginally up despite multiple headwinds. On a standalone QoQ basis, Q4 revenues up by 12.37%, PAT up by 181%.
Vipul Organics, the Specialty Chemicals company in the pigments and dyes segment, announced their annual results. The total revenue of the company stood at 13,399.73 lakh, marginally up from Rs.13,386.44 lakh from 2021-2022. The Q4 Q-o-Q revenues up by 12.37% and PAT up by 181% due to focus on value added products and increased sales in the domestic market. Domestic sales increased by over 35% Y-o-Y to Rs.44.75 crore from Rs.33.11 crore. Vipul Organics also announced a dividend of 9% on each share.
Commenting on the results, Vipul P Shah, Managing Director, Vipul Organics, said, “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.â€
Speaking on the future outlook for Vipul Organics, 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%.â€
With 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.