Sirca Paints India Sees Profitable Growth Amid Expansion

Sirca Paints India reported a 39.2% increase in consolidated net profit to Rs 14.20 crore for the quarter ending June 30, boosted by improved margins and sales. Revenue surged by 45.26%, with expenses rising 44%. The company shifted its manufacturing unit due to heightened demand and expanded its facilities.

Sirca Paints India has witnessed significant financial growth, reporting a 39.2% increase in consolidated net profit to Rs 14.20 crore for the first quarter ending June 30. The profit rise comes on the back of improved margins and enhanced sales.

The company's revenue from operations surged by an impressive 45.26% to Rs 114.24 crore, compared to Rs 78.64 crore in the same quarter of the previous year. Despite a 44% hike in total expenses, Sirca Paints managed to improve its EBITDA margin to 19.74%.

Sirca Paints has relocated its wall paint manufacturing unit to a larger facility to cater to unexpected demands and acquired additional manufacturing units, a strategic move that the company believes will sustain its growth trajectory and provide steady value to investors and customers.

(With inputs from agencies.)