Sunshield Chemicals Ltd reports surge in Q1FY22 PAT to Rs. 16.32 crores

Sunshield Chemicals Ltd. has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY 2021-22) - QoQ Comparison

The company has reported total income of Rs.60.67 crores during the period ended June 30, 2021 as compared to Rs.51.84 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.16.32 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.3.30 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.22.19 for the period ended June 30, 2021 as compared to Rs.4.49 for the period ended March 31, 2021.

Financials	Q1 FY2021-22	Q4 FY20-21	% Change
Total Income	₹ 60.67 crs	₹ 51.84 crs	17.03%
Net Profit	₹ 16.32 crs	₹ 3.30 crs	394.55%
EPS	₹ 22.19	₹ 4.49	394.21%

Financial Results (Q1 FY 2021-22) - YoY Comparison

The company has reported total income of Rs.60.67 crores during the period ended June 30, 2021 as compared to Rs.39.04 crores during the period ended June 30, 2020.

The company has posted net profit / (loss) of Rs.16.32 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.0.81 crores for the period ended June 30, 2020.

The company has reported EPS of Rs.22.19 for the period ended June 30, 2021 as compared to Rs.1.11 for the period ended June 30, 2020.

Financials	Q1 FY2021-22	Q1 FY2020-21	% Change
Total Income	₹ 60.67 crs	₹ 39.04 crs	55.4%
Net Profit	₹ 16.32 crs	₹ 0.81 crs	1914.81%
EPS	₹ 22.19	₹ 1.11	1899.1%

During the current quarter, on account of product rationalisation activities of the Company, certain products manufactured by it and it's related Technology, Specifications, Brand Names and Customer Contracts ("Specified Assets") were transferred to a related party (Solvay Specialities India Private limited) for a consideration of Rs. 1,782 Lakhs. These specified assets are internally generated over a period of time and hence, as per Ind AS, there is no cost attributable to these specified assets. The entire consideration also being the gain on such transfer is shown as an exceptional item. Further the tax liability of Rs. 488 Lakhs on this gain has been considered under 'Tax expenses' under the sub heading current tax.

Shares of Sunshield Chemicals Ltd. was last trading in BSE at Rs. 372 as compared to the previous close of Rs. 373.2. The total number of shares traded during the day was 9647 in over 222 trades.

The stock hit an intraday high of Rs. 392 and intraday low of 368. The net turnover during the day was Rs. 3634749.

Source : Equity Bulls

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