Specialty chemical stock records 25% PAT growth in Q4, Board declares dividend: Do you own?

Vishnu Chemicals is a small cap company recorded a market cap of ₹1,911.36 Cr during today's closing. The company is a leading manufacturer of specialty chemicals like chromium and barium compounds. The stock ended today in a green note after Q4 results and dividend declaration.

The Board of Directors “Recommended dividend of Rs. 0.4/- per equity share of Rs. 2/- each (i.e. 20%) for the financial year ended 31st March, 2023 and the same shall be paid subject to approval of the shareholders at ensuing Annual/ General Meeting.”

During Q4FY23, the company reported a net income of ₹339 Cr, up by 1% YoY from ₹336 Cr during Q4FY22. Its EBITDA stood at ₹64 Cr during the quarter ended March 2023, up by 20% YoY from ₹53 Cr recorded during the quarter ended March 2022. Vishnu Chemicals said its net profit reached ₹36 Cr during the quarter under review up by 25% YoY from ₹29 Cr during the year-ago quarter.

During FY23, the company said its net income reached ₹1406 Cr up by 31% YoY from ₹1075 Cr in FY22. Vishnu Chemicals said its EBITDA stood at ₹245 Cr as against ₹161 Cr in FY22 up by 52% YoY. In FY23, the company’s net profit reached ₹137 Cr up by 68% YoY from ₹81 Cr recorded during FY22.

Mr. Ch. Krishna Murthy, CMD, Vishnu Chemicals Limited said, “We focus on our business as a whole not only the production assets but also the logistics, marketing and talent development. With a disciplined approach, we will continue our focus on key priorities to operate with diligence & responsibility and create long term value for our shareholders. We would like to express our gratitude to our stakeholders for their continued support and remain committed to the highest level of corporate governance and ethics.” 

Mr. Ch. Siddartha, JMD, Vishnu Chemicals Limited said, “The consistent performance is an outcome of our size which is hard to replicate and a product mix that gives us the flexibility to produce as per demand. We are pleased to deliver holistic improvement and will continue to our nurture our chemistry, which is essential for key applications with limited competition globally.”

The shares of Vishnu Chemicals closed today on the NSE at ₹322 apiece, up by 1.19% from the previous close of ₹318.20.