Mumbai: Leading pigment and dye manufacturer Vipul Organics’ profits have risen 11% to Rs. 1.26 crore in the June-August quarter from Rs. 1.14 crore in the corresponding period last year. Revenues have declined slightly to Rs.3,768 crore this time from Rs.3,819 crore last year.
The company’s operating profit margin has been its highest in five quarters at 10.05% even though the net sales have reduced to their lowest in the last five quarters to Rs.37.60 crore.
Even though Vipul Organics offers a diversified portfolio of products for the textile, food processing, pharmaceutical and paper industries, it is facing challenges in maintaining its market share.
To address this, the company’s board has approved the expansion into membrane manufacturing for water treatment, with an aim to diversify into sustainable technologies.
To be led by Dr Vatsal Shah, the company is setting up a greenfield project in Saykha, Gujarat as an independent unit focusing on membrane development and production.
Valued at $2.3 billion, India’s water treatment market is expected to reach $6.30 billion by 2034, according to a report by Market Research Data.
“This move builds on our core strengths in specialty chemicals and our experience with zero-liquid discharge technologies,” Managing Director Vipul P Shah said in a statement.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Readers should conduct their own research or consult with a qualified financial advisor before making any investment decisions.
