Mitsu Chem Plast Q3 revenue increases 36% yoy to Rs66.5cr

3 Feb 2022 , 09:17 AM

Mitsu Chem Plast Limited has announced its unaudited Financial Results for the 9 Month & Q3 FY22. 

Key Highlights for the 9M FY22:

• For the 9M FY22 Long-term Borrowings reduced to Rs21.03cr from Rs34.51cr YoY
• For the 9M FY22 Finance cost reduced by 8.18% to Rs4.04cr

Key Highlights for the Q3 FY22:

• For the Q3 FY22 Revenue grew by 36% to Rs66.50cr yoy
• For the Q3 FY22 EBITDA was at Rs5.38cr
• For the Q3 FY22 PAT was at Rs2.05cr

Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, “For the 9M FY22, we have seen good growth in our Revenue as our utilisation levels increased and we have seen decent growth in our profitability. In Q3 FY22 prices of our primary raw material were very high along with there was also increase in overhead cost which had impacted our operating margins.

Also there is still on going global logistic issue of very high logistic cost, due to this most of our export-oriented customers have held back their exports shipments that impacted us despite having order bookings we were not able to book the revenues.

Overall we have been able to mitigate the crisis in terms of absolute growth but there was some pressure on the margins.”

At around 9:17 AM, Mitsu Chem Plast was trading at Rs289.90 per share lower by 0.05% on Sensex.