Vipul Organics, the leading Specialty Chemicals company in the pigments and dyes segment, announced their annual results.
In the fiscal year 2023–24, the company experienced a significant improvement in its financial performance, with total revenues rising to Rs 15,099.30 lakh, marking a commendable 12.68% increase from the previous year’s Rs 13,399.73 lakh. This positive trend was reflected in the profit before tax (PBT), which surged by 68.87% to Rs 463.88 lakh on a standalone basis and by 69.53% on a consolidated basis. Additionally, the profit after tax (PAT) saw a substantial rise, increasing by 69.31% to Rs 334.44 lakh on a standalone basis and by an impressive 78.43% on a consolidated basis. In light of this robust performance, the company declared a dividend of 10% per equity share, amounting to Rs 1 per share. Furthermore, earnings per share (EPS) significantly expanded, growing by 68.83% on a standalone basis and by 77.24% on a consolidated basis. This remarkable financial achievement highlights the company’s strong market position and future prospects.
Commenting on the results, Mr. Vipul P. Shah, Managing Director, Vipul Organics Limited, said: We have witnessed robust growth and margin expansion QoQ and YoY. 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”.
