IOL Chemicals PAT declines 16.63% in Q4; Stock ends lower

The company posted a net profits in the Mar-21 quarter was down 16.63% at Rs75.25cr on the back of halving of EBITDA contribution of the pharmaceutical business.

Jun 07, 2021 05:06 IST India Infoline News Service

IOL Chemicals and Pharmaceuticals Limited a leading manufacturer of pharmaceutical (APIs) and specialty chemicals posted a net profits in the Mar-21 quarter was down 16.63% at Rs75.25cr on the back of halving of EBITDA contribution of the pharmaceutical business.

The stock ended at Rs657.60 down by Rs42.6 or 6.08% from its previous closing of Rs700.20 on the BSE.

Dr Sanjay Chaturvedi, Chief Executive Officer said “During the year the Company’s performance has been satisfactory despite the pandemic situation worldwide”. He also added, the Company completed the installation of new manufacturing facilities “Unit VIII” to manufacture Ibuprofen Derivatives and other pharma (APIs) products. Dr Chaturvedi further informed that the Company has increased the manufacturing capacity of Ethyl Acetate from 87,000 MTPA to 1,00,000 MTPA.

Talking about future projects, he added that the Company is in the process of setting up of 2 new manufacturing facilities 'Unit - IX' for manufacturing Gabapentin & other pharma (APIs) products; and 'Unit - X' for multiple pharma (APIs) products. These units are being installed at the Company’s existing Plant site at Barnala (Punjab) through internal accruals only and the installation of these units are running as per schedule," Dr Sanjay Chaturvedi added.

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