Mitsu Chem Plast achieves turnover of ₹76cr in Q2 FY24

Mitsu Chem Plast Limited has announced its unaudited financial results for Q2 FY24.

Key Financials of Q2 FY24 at a glance:

• Total Income at ₹76.01cr
• EBITDA at ₹5.42cr
• EBITDA Margin is 7.16% 
• PAT at ₹1.50cr
• PAT Margin is 1.97 %

Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, “The robust demand emanating from India's manufacturing sectors, particularly pharmaceuticals and chemicals, is poised to propel the plastic packaging industry. 

In light of this burgeoning demand, we are actively exploring the possibility of raising approximately ₹45cr through a Rights issue, targeting eligible equity shareholders. 

Furthermore, we remain steadfast in our commitment to sustainability, pursuing various green initiatives, including energy conservation, adopting advanced technologies, and incorporating efficient machinery within our manufacturing facilities.

Simultaneously, we are making strategic investments in new product launches and value-added offerings to enrich our product portfolio, positioning ourselves as the preferred partner for plastic packaging."