Chemplast Sanmar’s net profit surges to Rs 649 crore for FY22

CHENNAI: Chemplast Sanmar Ltd, a specialty chemicals company, reported a net profit of Rs 649 crore for FY22 on a revenue of Rs 5,892 crore.

Revenues grew at a healthy rate in FY22, owing to strong volume off-take and higher realisation across all key products - specialty paste PVC resin, suspension PVC, chloromethanes and caustic soda.

In Q4FY22, the company’s revenue grew by 35% on YoY basis due to pick-up in demand coupled with better realisation for most of the products.

“We also liquidated excess inventory of specialty paste PVC resin and suspension PVC built up in Q3FY22,” said Ramkumar Shankar, MD.

“We delivered a strong fiscal year 2022 marked by an important milestone in our history, our IPO. Our focus on consistently delivering outstanding operational results, combined with our dedication to strengthening our balance sheet, has helped us advance our performance by every passing quarter in this year,” he said.

He said “we also achieved the highest-ever net-profit of Rs 649 cr, (a YoY increase of 109%) and a record EPS of Rs 43.66. While there are some short-term challenges, particularly arising out of the lockdowns in China, the outlook across our product portfolio remains very positive.”