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Atul Ltd Q4FY23 PAT fell by -31.3% to Rs93.6 crore due to weak top line growth in performance chemicals

Apr 28, 2023

By: BlinkX Research Team

Atul Ltd reported -12.8% lower net revenues for the March 2023 quarter at Rs1,195 crore. The revenues were down by -5.76% on a sequential basis and the sequential pressure came from pressure on the performance chemicals business, which his largely come from global weakness in demand in bulk chemicals, epoxy resins, textile dyes and intermediates.

For the March quarter, the life sciences chemicals saw a growth of 11.4% at Rs409 crore while the performance chemical saw fall of -21.1% in the performance chemicals on a yoy basis. As a result, the operating profits of the performance chemicals were sharply lower on a yoy basis. That is why, despite higher operating profits in the life sciences chemicals business, the company overall saw a fall in profits.

Financial highlights for Mar-23 compared yoy and sequentially

The board of the company has declared a dividend of Rs25 per share which is subject to the approval of the board. In addition, the board of Atul Ltd had recently completed a buyback of shares through the open market at an average price of Rs9,536 per share. Atul Ltd is part of the Lalbhai group based out of Gujarat.