Vinati Organics Q1 Net Sales up by 38%
Vinati Organics Q1 Net Sales up by 38%
Mumbai, India, July 28, 2010: Vinati Organics Ltd. (VOL) (BSE: 524200), has posted a 38% rise in net sales at Rs. 69.95 crore for the first quarter ended June 2010, as compared to Rs. 50.81 crore in the corresponding period of the previous year.
EBIDTA rose to Rs. 13.49 crore up by 14% as compared to Rs. 11.79 crore in the corresponding period in previous year.
The company’s Q1 PAT stood at Rs. 8.51 crore from Rs. 7.58 crore, up by 12%
Highlights
| Quarter ended 30th Jun’10 (Rs. Cr) | Quarter ended 30th Jun’09 (Rs. Cr) | Growth % | |
| Net Sales | 69.95 | 50.81 | 38% |
| Profit after tax | 8.51 | 7.58 | 12% |
| Earnings per share (face value Rs.10/-) | 1.72 | 1.54 | 12% |
Commenting on the results Ms. Vinati Saraf Mutreja – Executive Director, Vinati Organics Ltd. said, “We are extremely happy with our performance. With Vinati’s expansion plans to the tune of Rs. 120 crore combined with fast pace growth in ATBS Segment, the future prospects look optimistic”
Recent developments during the quarter:
VOL plans Capex to the tune of Rs. 120 crores
· Vinati Organics plans Capex to the tune of Rs. 120 crores. The company plans to fund the same through a combination of internal accruals, debt & equity.
The details of the capex are given below:
° Increase 2-Acrylamido 2 Methyl Sulfonic Acid (ATBS)plant capacity from present 10000 MT to 18000 MT which would make it the largest manufacturer in the world
° 6MW cogeneration plant at Lote facility
° Expansion of Tertiary Butyl Acrylamide (TBA) capacity from 300 MT to 1000 MT
° Expansion of Vintreat Cap Polymers capacity from 1000 MT to 3500 MT
° Launching 2 new products Diacetone Acrylamide (DAAM) & Tertiary Octyl Acrylamide (TOA) with capacity of 1000 MT & 300 MT respectively.
Commenced production of its IB Plant at Lote
· Vinati Organics Limited commences production at new plant, becomes India’s largest manufacturer of IB
° This plant has an installed capacity of 12000 MT, making VOL the largest company in India in terms of manufacturing capacity for IB.
° The commencement of this unit will make the company self reliant in terms of one of their key material for its specialty monomer 2-Acrylamido 2 Methyl Sulfonic Acid (ATBS).
° Other than the captive use of IB for the manufacture of ATBS, VOL plans to sell IB in the domestic market.
About Vinati Organics Limited
Incorporated in the year 1989, VOL is into the manufacturing of specialty organic chemicals. It’s the world’s largest manufacturer of Isobutyl Benzene (IBB) and the 2nd largest manufacturer of ATBS. Its manufacturing facilities are situated in Mahad and Lote, Maharashtra. IBB is used a basic raw material for manufacturing Ibuprofen, an anti-inflammatory analgesic bulk drug. IBB is also used in perfumery industries. ATBS is used in oil–field recovery, water treatment, acrylic fiber, adhesives, and personal care products, as well as in mining industry, coatings, as dispersing and flocculating agent. It exports more than 75% of its production across USA, Europe, Asia, Middle East and China and has been the preferred source for some of the largest chemical manufacturing companies in the world.
VOL is listed on the Bombay Stock Exchange and National Stock Exchange. It had a Net Sales of 
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