Meghmani Finechem Q4 profit rises 3-fold to Rs 99 cr

We have announced plans to enter Chlorotoluene and its value chain in phased manner....We continue to move forward in our strategic direction of expanding scale, strengthening integration and achieving low cost of operations, he said.MFL, incorporated in 2007, is a manufacturer of Chlor-alkali products and value added derivatives.

Meghmani Finechem Ltd (MFL) on Monday posted a three-fold jump in its consolidated net profit at Rs 99.08 crore for the quarter ended March on strong revenue.

The company posted a net profit of Rs 32.76 crore in the same quarter previous fiscal, it said in a regulatory filing.

Total income rose to Rs 500.76 crore in the quarter ended March as compared to Rs 258.52 crore in the year-ago period.

In the entire 2021-22 fiscal, net profit rose sharply to Rs 252.78 crore compared with Rs 100.83 crore in the previous fiscal.

Total income increased to Rs 1,555.05 crore as against Rs 830.78 crore in the said period.

''This has been a landmark year for MFL. We made a debut on the stock exchange as an independent entity in August 2021. I am pleased to announce, we have delivered record financial performance,'' MFL Chairman and Managing Director Maulik Patel said.

He also announced the company's five-year vision of achieving Rs 5,000 crores in revenue by FY'27, translating to a revenue CAGR of 25 per cent from hereon. ''This growth will come from higher revenue contribution of value added derivatives and specialty chemicals. We have announced plans to enter Chlorotoluene and its value chain in phased manner....We continue to move forward in our strategic direction of expanding scale, strengthening integration and achieving low cost of operations,'' he said.

MFL, incorporated in 2007, is a manufacturer of Chlor-alkali products and value added derivatives. The company has state-of-the-art manufacturing facilities in Dahej, Gujarat.