Vipul Organics Limited, the BSE listed (VIPULORG / 530627) leading Specialty Chemicals company in the pigments and dyes segment, announced their annual results.
Total Revenues at 13,399.73 Lakh, marginally up from Rs.13,386.44 Lakhs from 2021-2022. The Q4 QoQ revenues up by 12.37% and PAT up by 181% due to focus on value added products and increased sales in the domestic market. Export Markets still present a Challenging Macroeconomic environment. Domestic sales increase by over 35% YOY to Rs.44.75 cr from Rs.33.11 cr. Company announces a dividend of 9% on each share.
Commenting on the results, Vipul P. Shah, Managing Director, Vipul Organics Limited, said: “Financial year 2022-23 was a challenging one for us as well as the entire Chemical Industry with multiple headwinds. We have taken steps to derisk our business from Global turbulence by increasing our Domestic business and bringing Value added products. Today over 30 percent of our top line comes from Domestic markets.”
Speaking on the future outlook for Vipul Organics, Vipul Shah added: “We are in the process of creating a Pan India footprint for our products by strengthening our Distribution network. We have increased our Production capacities and entered new verticals like Paper, Special Applications, etc. While we are seeing Green Shoots in the Economy in India as well as Globally, the challenges remain. We are all geared up to take advantage of the improvement in Macroeconomic factors. We are hopeful that the coming year will be better and we will be back to a growth rate of 15-20 percent.”
With increased focus on Domestic markets, Vipul Organics aspires to be a truly Global company with the ability to service Export markets as well as the booming Domestic markets with the best in category Pigments and Dyes for varied coloring usage across sectors.