Anupam Rasayan India Limited Reports Q2 & H1 FY24 Results

H1FY24 Total Revenue of ₹7,944 Mn; growth of 11% YoY

H1FY24 EBITDA at ₹2,247 Mn; growth of 18% YoY; H1FY24 EBITDA Margin at 28%

Surat, November 7, 2023: 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 half year ended September 30, 2023.

Consolidated Financial Highlights for quarter ended September 30, 2023:

§   Total revenue for Q2FY24 was at ₹3,956 million as compared to ₹3,831 million in Q2FY23; up 3% YoY.

§   EBITDA (incl. other income) was at ₹1,109 million in Q2Y24 as compared to ₹1,012 million in Q2FY23 - growth of 10% YoY, this would translate into 28% EBITDA margin in this quarter.

§   Profit After Tax was at ₹487 million in Q2FY24 as compared to ₹478 million in Q2FY23 - growth of 2% YoY.

Consolidated Financial Highlights for half ended September 30, 2023:

§   Total revenue for H1FY24 was at ₹7,944 million as compared to ₹7,299 million in H1FY23; up 11% YoY.

§   EBITDA (incl. other income) was at ₹2,247 million in H1FY24 as compared to ₹1,904 million in H1FY23 - growth of 18% YoY, this would translate into 28% EBITDA margin.

§   Profit After Tax was at ₹1,009 million in H1FY24 as compared to ₹898 million in H1FY23 - growth of 12% YoY.

Speaking on the performance, Mr Anand Desai, Managing Director, Anupam Rasayan commented, “Amidst the challenging external environment, I am happy that we have been able to hold our ground and deliver some growth. Our total revenue for the first half of FY24 reached Rs. 7,944 million, reflecting a robust year-over-year growth of 11%. Our strong margins at 28% for H1FY24, are a testament to our unique business model.

During this quarter, we successfully launched three new molecules, bringing the total to five by the end of H1 FY24. We will launch an additional five molecules by the close of FY24. In a bid to balancing our carbon emissions and making significant strides towards achieving energy neutrality by 2027, we have also signed three MoUs with the Government of Gujarat for afforestation.

We are seeing a resurgence in demand, which instills confidence of delivering growth in coming quarters. This bolsters our confidence in achieving consistent growth and maintaining our margin profile. We remain steadfast in our pursuit of growth, sustainability, and contributing positively to the environment.”