Kesar Petro Products , a leading petrochemical company, has resubmitted its standalone financial results for the quarter ended June 30, following a discrepancy notification from the Bombay Stock Exchange (BSE). The company clarified that there were no changes in the financial figures, with the resubmission only addressing the format as prescribed under Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Highlights

The resubmitted results showcase a strong performance for Kesar Petro Products in the first quarter:

• Revenue Growth: The company reported revenue from operations of ₹49.53 crore, marking an 8.1% increase year-over-year from ₹45.80 crore in the same quarter last year.

• Profit Surge: Net profit after tax witnessed a remarkable jump of 177.8%, reaching ₹5.89 crore compared to the previous year's figure.

• EBITDA Performance: EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 148.5% to ₹9.21 crore. The EBITDA margin expanded significantly to 18.5% from 8.1% in the corresponding quarter of the previous year.

• Earnings Per Share: The company's earnings per share improved to ₹0.61 from ₹0.22 in the same period last year.

Key Financial Metrics

Other Notable Points

• The company's finance costs increased to ₹0.57 crore from ₹0.26 crore in the previous year.
• The Board of Directors approved these financial results in their meeting held on August 8.

Regulatory Compliance

Kesar Petro Products emphasized its commitment to regulatory compliance in its communication to the BSE. The company stated, "We regret the oversight and assure you of our continued compliance with the applicable regulations." This resubmission underscores the company's dedication to transparency and adherence to regulatory standards.

The resubmitted results, along with the Limited Review Report, have been filed with the BSE, ensuring that investors and stakeholders have access to accurate and compliant financial information.

As Kesar Petro Products continues to demonstrate strong financial performance, investors will likely keep a close watch on the company's growth trajectory and operational efficiency in the coming quarters.

Kesar Petroproducts Limited , a leading manufacturer of Phthalocyanine Blue Crude and its downstream products, has announced the commencement of commercial production at its new fertiliser unit in Ratnagiri, Maharashtra. This strategic expansion is projected to drive a significant increase in the company's revenue.

New Fertiliser Plant Details

The new plant, with an annual capacity of 6,000 tons, is designed to manufacture high-end fertilisers. Notably, the facility will utilize by-products from the company's existing pigment plant, showcasing Kesar Petroproducts' commitment to efficient resource utilization and vertical integration.

Expected Financial Impact

Kesar Petroproducts anticipates that this additional capacity will lead to an approximate 20% year-on-year increase in revenue. This projection underscores the significance of the new unit in the company's growth strategy.

Dinesh Shankarlal Sharma, Chairman, and Shreyas Sharma, CEO of Kesar Petroproducts, expressed confidence in the new venture, stating, "We expect this foray into the fertiliser industry to significantly boost our revenues in the coming months. We have invested in state-of-the-art manufacturing products and new age technology to constantly innovate and come up with products to meet the needs of our consumers."

Company Performance

Kesar Petroproducts has been performing well financially, as evidenced by its recent financial results:

The company's expansion into fertilisers is expected to build upon this solid financial foundation.

Existing Operations

Kesar Petroproducts is a significant player in the Copper Phthalocyanine market, contributing up to 15% of the entire market in India. The company's current production capacity includes:

• 600 tons per month of Copper Phthalocyanine Blue Crude
• 150 tons per month of Alpha Blue
• 200 tons per month of Beta Blue
• 50 tons per month of Pigment Green

These products cater to a diverse range of industries, including printing inks, paints and coatings, plastics, paper, ceramics, textiles, glass, food, and cosmetics.

Conclusion

With the new fertiliser unit now operational, Kesar Petroproducts is poised for potential growth, leveraging its expertise in chemical manufacturing to expand its product portfolio and market reach. The company's strategic move into the fertiliser industry, coupled with its strong performance in existing markets, positions it for continued success in the coming years.