Nitta Gelatin India Limited, a prominent player in the gelatin and collagen peptide industry, has announced significant changes to its senior management team, signaling a strategic move to strengthen its leadership structure.

New CFO Appointment

Mr. Uppiliyappan C has been appointed as the Chief Financial Officer (CFO)-Designate, set to take charge from his joining date. With over 18 years of experience in finance functions across global and Indian entities, Mr. Uppiliyappan brings a wealth of expertise to his new role.

A qualified Cost Accountant and Company Secretary, Mr. Uppiliyappan's professional journey includes stints at notable organizations such as TIMAB India, SANY Heavy Industries, and Hyundai Motors. His core competencies encompass:

• Strategic financial planning and analysis
• Cost optimization
• Capex management
• Business partnering
• Operational finance

New HR Head Appointment

Simultaneously, the company has appointed Mr. Vinod S. Menon as the Head of Human Resources (HR)-Designate, also effective from his joining date. Mr. Menon holds a Master's degree in Personnel Management and Industrial Relations and brings over 24 years of comprehensive HR experience to Nitta Gelatin India.

Mr. Menon's expertise includes:

• Talent acquisition and workforce planning
• Industrial relations and trade union negotiations
• Culture building and employee engagement

His professional background includes roles at companies such as Amphenol FCI, ICICI Prudential Life Insurance Kerala, and Vallabhdas Kanji Limited.

Strategic Implications

These appointments, decided at a recent Board Meeting, underscore Nitta Gelatin India's commitment to enhancing its management capabilities. The infusion of experienced professionals in key roles is expected to contribute to the company's strategic growth and operational excellence.

The company's move to strengthen its finance and human resources departments suggests a focus on financial strategy and talent management, which could be crucial for navigating future challenges and opportunities in the competitive gelatin and collagen peptide market.

As Nitta Gelatin India Limited continues to evolve, these leadership additions are likely to play a pivotal role in shaping the company's trajectory and reinforcing its market position.

Note: The exact joining dates for Mr. Uppiliyappan C and Mr. Vinod S. Menon have not been specified in the announcement.

Nitta Gelatin India Limited , a leading manufacturer of gelatin and collagen peptide, has reported a robust financial performance for the fourth quarter of fiscal year 2023. The company's consolidated net profit saw a significant increase of 40.5% year-over-year, reaching ₹196.00 million compared to ₹139.50 million in the same quarter last year.

Revenue and Profitability

Despite a slight dip in revenue, Nitta Gelatin demonstrated strong profitability in Q4 FY2023. The company's consolidated revenue stood at ₹1.29 billion, marginally down from ₹1.30 billion in the corresponding quarter of the previous year. However, the substantial growth in net profit underscores the company's ability to enhance its bottom line through improved operational efficiency and cost management.

Key Financial Highlights

• Profit margin improvement: The company's profit margin expanded significantly, reflecting enhanced operational performance.
• EBITDA growth: The company's EBITDA increased from ₹201.10 million to ₹229.00 million year-over-year.
• EBITDA margin improvement: The EBITDA margin rose to 17.71% from 15.43% in the same period last year.

Dividend Announcement

In a move that will likely please shareholders, Nitta Gelatin's Board of Directors has recommended a dividend of ₹8.00 per equity share for FY2023. This includes a special dividend of ₹2.00 per share to commemorate the company's golden jubilee year of operations. The total dividend represents 80% of the face value of ₹10.00 per share.

Management Commentary

While specific management comments were not provided, the financial results suggest that Nitta Gelatin has successfully navigated challenges in the operating environment to deliver strong bottom-line growth. The company's ability to maintain revenue levels while significantly boosting profitability indicates effective cost control measures and possibly improved product mix.

Future Outlook

The company's strong performance in Q4, coupled with its dividend announcement, signals confidence in its financial health and future prospects. As Nitta Gelatin celebrates its golden jubilee, the robust financial results provide a solid foundation for future growth initiatives.

Investors and market observers will be keen to see if the company can maintain this growth momentum in the coming quarters, especially given the evolving global economic landscape and potential challenges in raw material costs and market demand.

Nitta Gelatin India Limited continues to be a key player in the gelatin and collagen peptide market, and its Q4 FY2023 results demonstrate its resilience and ability to deliver value to shareholders even in a challenging business environment.