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Stock Report
Chemcon Speciality Chemicals Limited - Q3FY21 Results
Posted On : 2021-02-15 09:13:18( TIMEZONE : IST )
Chemcon Speciality Chemicals Limited, a leading manufacturer of specialized chemicals, such as Hexamethyldisilazane ("HMDS"), Chloromethyl Isopropyl Carbonate ("CMIC") and inorganic bromides, announced its un-audited financial results for the quarter and nine months ended on December 31st, 2020.
- Revenue Stood at Rs 64.8 Cr, growth of 16.3% on YoY basis
- EBITDA at Rs 22.8 Cr, growth of 70.4% on YoY basis
- PAT at Rs 16.5 Cr, growth of 77.5% on YoY basis
Commenting on the results, Mr. Kamal Aggarwal, Chairman & MD said, "Both Pharma chemicals and Oilwell completion chemicals businesses has reported a decent performance during this quarter. There was an overall revenue growth of 16% in the topline and 25% volume growth on YoY basis. There has been meaningful demand in pharma industry which has elevated our CMIC & HMDS chemicals business.
Our oilwell completion chemical segment has recovered during the quarter on back of rebound in oil & gas industry expansion activities which has partially negated our muted performance in H1FY21. We faced shortage of bromine which is one of our key raw material for manufacturing bromide and therefore had lower than anticipated production. Although, the business environment is improving and evolving at the same time. We look forward for the improving demand of range of bromides in the endmarket.
Total capital expenditure incurred for the 9MFY21 has been Rs 25 Cr of which Rs 21 Cr has been done through internal accrual and balance from IPO proceeds. From IPO proceeds, Rs 4.3 Cr has been utilized for expansion of manufacturing facilities whereas Rs 40 cr has been incurred for working capital requirement.
Our new chemical business 4CBC has been successfully commercialised and has started contributing to our topline. Our endeavor is to shift to more value-added solutions which will help to sustain our business and create new leap of growth. We foresee business momentum to continue on the back of our recent capacity expansion, new commercial products, robust demand in pharma chemicals and economic recovery in Oilwell completion chemicals."
