Vipul Organics announces Q1 results for FY 2022-2023
The company expects the international markets to settle to pre-war levels by the next quarter.
Vipul Organics, a leading specialty chemicals company in the pigments and dyes segment, announced their Quarter 1 results for FY 2022-23. The total revenue of the company in Q1 of 2022-23 stood at Rs 3,793.21 lakh, up 12.19% from Q1 of 2021-22.
Commenting on the results, Vipul Shah, Managing Director, Vipul Organics, said: “More than three fourth of our turnover is from exports and the geopolitical fall-out of the war between Russia and Ukraine has had its impact on our results, as it has on the industry. While our top line grew, the bottom line took a hit, primarily because of increase in input costs including prices of raw materials and the cost of exports”.
Speaking on the future outlook for Vipul Organics, Vipul Shah added: “We expect the international markets to settle to pre-war levels by the next quarter, so that it should help in exports. In addition, we have been increasing our focus on the Indian market and from being a one hundred percent exporter, we have nearly one fourth of our topline coming from domestic sales now. We have also been focusing on diversifying our product portfolio and adding more value accretive products. This and our recent capacity expansion gives us the confidence that going forward, barring unforeseen circumstances, we will be able to not only protect our margins but see an incremental increase in the bottom line.”
Vipul Organics is celebrating its 50th year of operations. To commemorate this and recognise the support of all stakeholders, the company has issued bonus shares in the ratio of 1:4. 25,62,375 Bonus Equity Shares were issued and allotted on the 11th of April 2022 and Earning Per Share has been adjusted accordingly. After the issue, the issued, subscribed and paid capital stands at Rs 12,81,18,750 divided into 1,28,11,875 Equity Shares of Rs 10 each.
Vipul Organics is amongst the foremost manufacturers of Pigments, Dyestuff, Lake Colours and Pigment Intermediaries / Fast Salts in the country. It has 6 manufacturing facilities spread across Maharashtra and has global footprint in over 50 countries. Vipul Organics ended the financial year 2021-22 with revenues of Rs135 Crore, marking a robust 13% + growth over the previous financial year.
