Omkar Specialty Chemicals Limited Q4 profits jump 60.7 The Economics Times (22/05/2012)
MUMBAI: Mumbai based Omkar Speciality Chemicals Limited (OSCL) reported a 60.7% growth in net profit to Rs. 4.78 crore for the quarter ended March 31, 2012 as against a net profit of Rs. 2.97 crore for the quarter ended March 31, 2011. The company is a leader in niche value-added organic as well as inorganic chemicals derived from iodine, molybdenum, selenium, cobalt and tartaric acid. Net sales of OSCL stood at Rs. 41 crore for the March quarter, as against Rs. 31.1 crore for the corresponding quarter in the previous fiscal.
For the whole year FY12, the company posted a 57% growth in consolidated net profit to Rs 16 crore, as against Rs. 10.2 crore for FY.
Commenting on the results, Mr. Pravin S. Herlekar, Chairman & MD, Omkar Speciality Chemicals Limited said, "Our company registered a strong growth for the year with the specialty chemicals and API intermediate business growing in excess of 55%. Our Exports have grown from Rs 11.48 Crs in F.Y 2010-11 to Rs.26.08 crore in F.Y 2011-12, registering a whooping growth of 127.18%." The company, which mainly caters the pharma industry, had come out with an IPO in January 2011 to fund the expansion of its production capacity from 750 tonne to 3650 tonne by September 2012. The company recently concluded couple of acquisitions. It acquired a company in Ratnagiri, with installed capacity of 2800 tonne per annum. This capacity is likely to commission commercial operations from April 2012 onwards. This was followed by acquisition of Lasa Laboratories, which marked its foray in API pharmaceutical industry.