Surat, 20th May 2024: Anupam Rasayan India Ltd. (BSE- 543275, NSE- ANURAS, ISIN: INE930P01018), one of India’s leading custom synthesis and specialty chemical player, has announced its financial results for the quarter and year ended March 31, 2024. 

Consolidated Financial Highlights for quarter ended March 31, 2024:

§   Total revenue for Q4FY24 was at ₹4,130 million as compared to ₹5,042 million in Q4FY23; down 18% YoY.

§   EBITDA (incl. other income) was at ₹1,047 million in Q4FY24 as compared to ₹1,416 million in Q4FY23 –

degrowth of 26% YoY, this would translate into 25% EBITDA margin in this quarter.

§   Profit After Tax was at ₹405 million in Q4FY24 as compared to ₹726 million in Q4FY23 – degrowth of 44% YoY. 

Consolidated Financial Highlights for year ended March 31, 2024: 

§   Total revenue for FY24 was at ₹15,053 million as compared to ₹16,105 million in FY23; down 7% YoY.

§   EBITDA (incl. other income) was at ₹4,109 million as compared to ₹4,399 million in FY23 – degrowth of 7.0% YoY, this would translate into 27% EBITDA margin.

§   Profit After Tax was at ₹1,674 million as compared to ₹2,168 million in FY23 – degrowth of 23% YoY. 

Speaking on the performance, Mr Anand Desai, Managing Director, Anupam Rasayan commented, “Indian chemical industry including spec chem industry has faced significant headwinds during the last year. However, despite the de-growth in the top-line, we have been able to sustain our profitability and maintain margins at 27% levels on a full year consolidated basis. During the year, the Agro chemical industry in particular faced challenges, however our past sustained efforts in expanding our pharma and polymer portfolio have started yielding results leading to pharma contributing over 9% of revenue in FY24, up from 4% last year. We expect pharma and polymer segment each to further increase their revenue share in double digits by next year.

In FY2024, we have focused on expanding our customers, products and end market applications. We have added 17 new molecules, 4 new MNCs including 2 Japanese majors and expanded contribution from polymer and pharma which going forward will lead to balanced product portfolio from end market perspective.

We believe that headwinds in the industry may continue for the next two quarters. However, financial year 2025 will be a year of growth for us with our major focus on polymer and pharmaceutical space.”