Mitsu Chem reports 42% yoy rise in total revenues, PAT up 40% yoy; Stock climbs 2.5%

10 Aug 2022 , 12:39 PM

Mitsu Chem Plast Limited (Mitsu), one of the largest manufactures of Blow Molding, Injection Molding and Customized Molding has announced its unaudited Financial Results for Q1FY23.

Key Highlights:

• EBITDA for Q1FY23 at Rs9.40 crore; 22.82% YoY growth
• PAT for Q1FY23 at Rs5.16 crore; 39.79% YoY growth

Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, “After having a landmark year FY 22, we continue to ride strongly on growth path. Q1 FY23 financial performance clearly indicate strong Indian consumption story.

Raw material prices were continued to be high which has pressurized our operating margin however rising sales enabled company to report strong operating profitability and increase in the operating efficiency of the company added to the increase in profitability of the company.

Despite various economic and political headwinds, we are optimistic about future growth of the Company.”

At around 12:31 PM, Mitsu Chem Plast was trading at Rs276.70 per share higher by 2.54% as against previous closing of Rs269.85 per share on the BSE.