Epigral's Profit Surges Over Two-Fold on Robust Volume Growth

Chemicals manufacturer Epigral reported a significant profit boost, with PAT reaching Rs 86 crore in the June quarter, up from Rs 32 crore the previous year. The surge was driven by increased capacity utilization and new project commissions. Revenue from operations also saw a 43% year-on-year growth.

Chemicals manufacturer Epigral disclosed on Wednesday that its profit after tax (PAT) soared over two-fold to Rs 86 crore in the June quarter as compared to the same period the previous year. This robust rise was attributed to higher capacity utilization and the commissioning of new projects.

Epigral announced a net profit of Rs 32 crore in the first quarter of FY24. The company's revenues from operations during the quarter recorded a 43% year-on-year increase, hitting Rs 651 crore, up from Rs 455 crore the prior year.

The company also indicated that volume during the reporting quarter grew by 29% year-on-year, driven mainly by the efficient utilization of capacities and contributions from newly commissioned projects. Additionally, revenue from derivatives in the specialty chemicals business surged by 53% compared to 37% a year ago.

Maulik Patel, Chairman and Managing Director of Epigral, commented on the performance, stating the company's highest-ever quarterly revenue was primarily due to efficient capacity utilization and new projects. Looking ahead, Epigral expects continued growth with the commissioning of new facilities and aims to create value for stakeholders. The company’s shares rose by 11.72%, closing at Rs 1642.65 on BSE.