News | May 01, 2023
IOL Chemicals and Pharmaceuticals reports Q4 FY23 PAT at Rs. 65 Cr
Net profit for FY23 at Rs. 140 crore as compared to Rs. 166 crore in FY22
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
We are launching the five new products in the new manufacturing facility and they're all pharmaceuticals and this should lead to an increase in pharma numbers.
The capex for FY22 stood at Rs 145 crore and is expected to be in the range of Rs 250-350 crore for the entire FY23 which would be funded through a mix of internal accruals and debt
The company already has the world’s largest capacity for ibuprofen and is now looking at expansion in new molecules as the idea is to actually de-risk the business
The company’s pharmaceutical API products Ibuprofen and fenofibrate got the go-ahead
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The company aims to continue its expansion via organic and inorganic routes to increase production capacity and product portfolio
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