Yasho Industries Q1FY23 PAT up 88.71 % at Rs 20.59 Cr; YoY basis

16 Oct 2022

YashoIndustriesLtd(BSE:541167|ISIN:INE616Z01012)aleadingIndianglobalmanufacturer & supplier of specialty and fine chemicals, announced its un-audited financial results for the quarterended30^th June,2022.

Mr. Parag Jhaveri, Managing Director & CEO, Yasho Industries Limited said, “We are pleased to report strong quarterly performance. Total revenue for the quarter stood at Rs 187.55 crores, a growth of 39.90% on YoY basis. This was achieved by working at near full capacity and favorable product mix. We continue to see interest in our products from our customers and are confident to grow the business keeping a medium to long term view in mind.

Due to global macroeconomic headwinds and capacity constraints, we see some volatility in the near-term revenue which we expect to continue for the next 1-2 quarters. Your company is doing its best to sustain the current sales momentum through better product mix and making more efficient use of our multi-purpose facilities. As stated in the past, we intend to expand capacity at a new greenfield facility in Pakhajan, Gujarat. The board has approved a capex of Rs 350 Cr. for the Phase I of the project. We are awaiting government approval for its environmental clearance, which we expect to receive in the coming months.

We continue to gain market share in value-added chemicals, which have made a significant contribution in recent years to our growth and profitability.  Sustained efforts and investments in our technical capabilities and R&D activities have played an instrumental role in bringing us this far and we are hopeful that it will help us grow further over the years to come.”