Camlin Fine Sciences update on impact of Russia-Ukraine crisis

29 Apr 2022 , 01:21 PM

Camlin Fine Sciences announced that based on the preliminary assessment of the latest unaudited consolidated management financial statements of the Group, the Russia – Ukraine crisis has had an adverse impact on all costs especially raw materials, logistics and power and fuel.

Groups material subsidiary CFS Europe SpA which manufactures Diphenols in Italy, Europe has been severally impacted due to phenomenal increase in power costs, owing to this crisis. The normal average quarterly power cost has increased by 240% in Quarter ended 31 March 2022 which has resulted in an increase in power cost of around Rs. 28 crore in the quarter.

Group has been able to transfer some of the inflationary increase in the costs to its customers by increasing the sale prices but to a certain extent.

However, the company expects to have an impact on the consolidated results of the Group for the quarter and financial year ended 31 March 2022.

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