Vipul Organics announces annual results for FY 2023-2024

In the FY 2023-24, the company’s total revenue increased by 12.68%.     

Vipul Organics, the Specialty Chemicals company in the pigments and dyes segment, announced their annual results.

In the fiscal year 2023-24, the company witnessed a significant surge in its financial performance, marking a notable increase in total revenues which stood at Rs 15099.30 Lakh, a commendable 12.68% rise from the previous year’s Rs13399.73 lakhs. This growth trend continued as the Profit Before Tax (PBT) soared by 68.87 per cent to reach Rs 463.88 lakh on a standalone basis and by 69.53 per cent on a consolidated basis. Furthermore, the Profit After Tax (PAT) saw a remarkable uptick, increasing by 69.31 per cent to Rs 334.44 lakh on a standalone basis and by an impressive 78.43 per cent on a consolidated basis. Reflecting this robust performance, the company announced a dividend of 10 per cent per equity share, totalling Rs 1 per share. Moreover, the Earnings Per Share (EPS) also experienced significant expansion, growing by 68.83 per cent on a standalone basis and by 77.24 per cent on a consolidated basis. This notable financial success underscores the company’s strong position and prospects in the market.

Commenting on the results, Vipul P Shah, Managing Director, Vipul Organics said, “We have witnessed robust growth and margin expansion Q-o-Q and Y-o-Y. Our domestic sales are seeing tailwinds and we expect the coming year to be better as we have focussed on new verticals like Paper, Cosmetics and Seed Colouring during the last year. We have also started moving up the value chain by introducing value added products which is reflected in our Margins. Our Exports have picked up despite the Global factors continuing to weigh in. During the year gone by, we did the ground breaking ceremony of our greenfield facility at Sayakha, Gujarat which we hope to complete in F.Y. 2025-26 and this will significantly enhance our manufacturing capacities. We are seeing green shoots in the chemical sector and the company is well poised to take advantage of the uptick in the cycle for Chemical Sector in the coming years”.