Mitsu Chem FY23 total income up 19 per cent
May 17, 2023
Mumbai (Maharashtra) [India], May 17 (ANI/PNN): Mitsu Chem Plast Limited (Mitsu) (BSE:540078), One of the largest manufactures of Blow Molding, Injection Molding and Customized Molding, announced its audited Financial Results for Q4 & FY23.
Key Financials at a Glance:
FY23
* Total Income at Rs 309.33 Cr
* EBITDA at Rs 26.60 Cr
* PAT at Rs 11.80 Cr
* EPS at Rs 9.78
* Cashflow from operation is Rs 21.99 Cr
Q4 FY23
* Total Income at Rs 83.17 Cr
* EBITDA at Rs 7.58 Cr
* PAT at Rs 3.30 Cr
* EPS at Rs 2.73
Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said,
"We are thrilled to report that despite higher costs, we have managed to achieve revenue growth and maintain profitability in FY22. We understand that raw material prices remain a major concern, but we are actively working on optimizing our costs to further improve profitability.
Fortunately, we have seen some improvement in raw material prices during Q4 compared to Q3, and we are confident that this trend will continue into FY24. This gives us a positive outlook for the coming year, and we expect FY24 to be a good year from a growth perspective.
We are taking various cost optimization measures to ensure that we continue to maintain profitability while growing our revenue. Additionally, we are closely monitoring market trends and factors that could impact demand in the future. We believe that with the right strategies and contingency plans in place, we can navigate any potential risks and continue to thrive as a company."
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