Vipul Organics Sees Threefold Surge in Q4 Profit

Vipul Organics reported a substantial increase in consolidated net profit, jumping to Rs 1.07 crore in Q4 FY24 from Rs 29 lakh in the previous year. The company’s total income rose to Rs 40.54 crore, driven by higher domestic sales and expansion into new verticals like paper, cosmetics, and seed coloring.

Vipul Organics has posted more than three times jump in consolidated net profit at Rs 1.07 crore for the fourth quarter of FY24 on higher income, the specialty chemicals company said on Friday.

The company, which is in the dyes and pigments segment, posted a net profit of Rs 29 lakh in the same quarter of the previous fiscal.

Total income increased to Rs 40.54 crore during the January-March quarter of the 2023-24 fiscal, from Rs 31.33 crore in a year earlier, the company said in a statement.

For the full fiscal year 2023-24, the company's consolidated net profit rose sharply to Rs 3.34 crore, compared with Rs 1.87 crore in the previous fiscal.

''We have witnessed robust growth and margin expansion QoQ and YoY. Our domestic sales are seeing tailwinds and we expect the coming year to be better as we have focussed on new verticals like paper, cosmetics and seed colouring,'' said Vipul P Shah, Managing Director, Vipul Organics Ltd.

Last year, the company held the groundbreaking ceremony of a greenfield facility at Sayakha, Gujarat which is likely to be completed in 2025-26, he added.