News | November 15, 2023
IOL Chemicals and Pharmaceuticals Q2 PAT jumps 141% to Rs. 37.8 Cr
EBITDA for Q2 FY24 at Rs. 71.2 crore as compared to Rs. 79.9 crore QoQ
EBITDA for Q2 FY24 at Rs. 71.2 crore as compared to Rs. 79.9 crore QoQ
The product is expected to start contributing meaningfully to the revenue from FY25
The identified products for Active Pharmaceutical Ingredients (API) will be developed under the CRAMS and CDMO models
Wider reach for nutraceuticals portfolio in Europe, Turkey and Egypt
Allianz is ISO 9001:2015 certified and INVIMA certified for storage, sampling, dispensation, and distribution of APIs to the Colombian market
Net profit for FY23 at Rs. 140 crore as compared to Rs. 166 crore in FY22
Specialty Chemicals grew 38% YoY for FY23
The company is one of the most profitable companies manufacturing speciality chemicals in India
Advent will also be making an open offer to acquire additional 26% of the outstanding equity shares of the company from the public shareholders.
Q2 FY23 business performance has been slow primarily due to lower volume offtake from pharmaceutical manufacturers
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