Anupam Rasayan India Ltd, a chemicals maker, has reported a 1.84 percent increase in consolidated net profit at Rs 48.69 crore in the second quarter of the current fiscal year. This is a slight increase from the net profit of Rs 47.81 crore in the same quarter of the previous year, according to a regulatory filing.
Total income for the company rose to Rs 395.61 crore during the July-September quarter of the 2023-24 fiscal, up from Rs 383.14 crore in the same period of the previous year. However, expenses also increased slightly to Rs 324.94 crore during the period under review, compared to Rs 315.72 crore in the same period.
Anand Desai, the Managing Director of Anupam Rasayan, expressed satisfaction with the company’s performance, stating “Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth.” For the first half of the current fiscal, total revenue rose to Rs 794.4 crore, reflecting an impressive year-over-year growth of 11 percent. Desai also highlighted the company’s strong margins at 28 percent for the first half of the year, calling it a testament to the company’s unique business model.
During the quarter, the company launched three new molecules, with plans to launch an additional five molecules by the end of the fiscal year. Desai emphasized the company’s confidence in achieving consistent growth and maintaining their margin profile, citing a resurgence in demand.
Anupam Rasayan has also signed three memorandum of understanding (MoUs) with the Gujarat government for afforestation in an effort to balance carbon emissions and achieve energy neutrality by 2027. Additionally, the company’s board has approved the issuance of 19.04 lakh equity shares on a preferential basis to promoters and 39.14 lakh convertible warrants on a preferential basis to non-promoters. The Gujarat-based company has a manufacturing capacity of 27,200 tonnes spread over six facilities.
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