Clariant Chemicals full year profit grew by 69 percent over previous year

Mumbai, India – Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company, announced its full year financial results for the year ended March 31. The company reported profit before exceptional items and tax of Rs 58.07 crore for the year ended March 31, as compared to Rs 34.29 crore in the similar previous year period, witnessing a significant growth of 69 percent for its continuing business. Sales in this period declined by 3.5 percent at Rs 730.77 crore as against Rs 757.28 crore in the similar previous year period, impacted by the COVID-19 nationwide lockdown in the initial months.

The profit before exceptional items and tax increased to Rs 22.74 crore for the quarter ended March 31, as compared to profit of Rs 10.67 crore for the similar previous year period. Sales rose by 29 percent, at Rs 218.84 crore, for the year ended March 31, as against Rs 169.48 crore for the corresponding quarter in the previous year for its continuing business. 

The board has recommended a final dividend of Rs 15 per share (150 percent).

Adnan Ahmad, vice chairman and managing director, Clariant Chemicals (India) Limited, said, “Clariant in India continued to demonstrate its resilience, despite the pandemic. The gloom over COVID-19 was lifting as consumption across different sectors was bouncing back until the second wave was upon us. At Clariant in India, we saw encouraging growth in the past three quarters, reflecting an impressive margin delivery. The board is pleased to announce a final dividend of Rs 15 per share (150 percent), as we continue to commend our shareholders for their trust in us. Our continued focus on excellence in execution helps us deliver on our top priorities of safety, sustainability and innovative offerings to all of our stakeholders.”