Vipul Organics Limited, the BSE listed leading Specialty Chemicals Company in the pigments and dyes segment, announced their Quarter 1 results for FY 2022-23.
Total Revenues in Q1 of 2022-23 stood at Rs. 3,793.21 Lakh, up 12.19 percent from Q1 of 2021-22. PAT stood at Rs. 106.08 Lakh on a standalone basis and Rs. 105.78 Lakh on a consolidated basis. EPS stood at 0.82 per share; EPS has been adjusted due to the bonus equity shares issued and allotted on 11th April 2022.
Commenting on the results, Vipul Shah, Managing Director, Vipul Organics Limited, said: “More than three fourth of our turnover is from exports and the geo political 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 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 give 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 recognize 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 Earnings 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.
