Clariant Chemicals’ sales grows by 5.4%

Profit before tax for the 12 months ended March 2020 grew by 134%

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Clariant
Adnan Ahmad, Vice Chairman & Managing Director, Clariant Chemicals (India) Limited
Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company today announced its financial results for the year ended March 31, 2020. The company reported sales from continuing operations of Rs. 757 crores for the year ended March 31, 2020, as compared to sales of Rs. 719 crores in the corresponding previous year period, signifying a growth of 5.4 %. The net profit stood at Rs. 71 crores as against Rs. 30 crores in the corresponding previous year. The Board has recommended a Final Dividend of Rs 11 /- per share (110 %).

Clariant profit for the quarter ended March 2020

For the quarter ended March 2020, the profit before tax grew 158% to Rs 28 crores as against Rs 11 crores in the corresponding previous year period. Sales from continuing business contracted by 8.4% to Rs. 169 crores for the quarter ended March 2020, as against Rs 185 crores for the corresponding quarter in the previous year. Manufacturing and trading activities were shut down in the last week of March 2020 in keeping with the lockdown announced by the government across the country.
 
The sales from continuing operations were lower by 8.4 %, at Rs 169 crores, for the quarter ended March 2020, as against Rs 185 crores for the corresponding quarter in the previous year. The profit before tax of Rs 28 crores for the quarter ended March 2020, as compared to profit before tax of Rs 11 crores in the corresponding previous year period – signifies a growth of 158.4 %.
 
‘‘The Company’s strong bottom line and cash performance is a result of the continued momentum from our strategy to drive profitable growth while expanding our presence in the market with superior products. The prevailing situation with the COVID-19 pandemic has impacted our sales growth this quarter, and we will continue to look at ways to adjust to the new normal,’’ said Adnan Ahmad, vice chairman & managing director, Clariant Chemicals (India) Limited.
 
The sales relating to continuing and discontinued operations is as below (in crores):
 
Particulars

3 months ended                  March 31, 2020

12 months ended March 31, 2020

Sales from continuing operations169.5757.3
Sales from discontinued operations67.3327.5
Total236.81,084.8
 

The Covid-19 pandemic led to the country-wide lockdown on 25 March 2020. It will be two years tomorrow as I write this. What have we learned in this time? Maybe the meaning of resilience since small companies like us have had to rely on our resources and the forbearance of our employees as we have struggled to produce our trade platforms.

The print and packaging industries have been fortunate, although the commercial printing industry is still to recover. We have learned more about the digital transformation that affects commercial printing and packaging. Ultimately digital will help print grow in a country where we are still far behind in our paper and print consumption and where digital is a leapfrog technology that will only increase the demand for print in the foreseeable future.

Web analytics show that we now have readership in North America and Europe amongst the 90 countries where our five platforms reach. Our traffic which more than doubled in 2020, has at times gone up by another 50% in 2021. And advertising which had fallen to pieces in 2020 and 2021, has started its return since January 2022.

As the economy approaches real growth with unevenness and shortages a given, we are looking forward to the PrintPack India exhibition in Greater Noida. We are again appointed to produce the Show Daily on all five days of the show from 26 to 30 May 2022.

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