Mitsu Chem Growth Story Continues FY22 Revenue Up by 44 per cent

Mumbai (Maharashtra) [India], May 4 (ANI/PNN): Mitsu Chem Plast Limited (Mitsu) (BSE: 540078), One of the largest manufactures of Blow Moulding, Injection Moulding and Customized Moulding, announced its audited Financial Results for the 12 Month & Q4 FY22.

Key Highlights for the FY22:

For the FY22 Long-term Borrowings reduced by 10.67 per cent YoY to Rs 28.55 Crore

For the FY22 Finance cost reduced by 6.4 per cent YoY to Rs 5.59 crore

For the FY22 Operating Cash Flow stood at Rs 8.18 crore

For the FY22 Working Capital Cycle Stood at 84 days against 90 days in FY21

For the FY22 Debt Equity Ratio stood at 1.32 times against 1.61 times in FY21

For the FY22 ROE & ROCE stood at 22.60 per cent & 21.01 per cent respectively

For the FY22 EBITDA & PAT margin stood at 10.36 per cent & 4.45 per cent respectively

Key Highlights for the Q4 FY22:

For the Q4 FY22 EBITDA & PAT margin stood at 11.19 per cent & 4.43 per cent respectively

Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, "FY22 was the landmark year for us we have achieved revenue of Rs 258.86 crore and PAT of Rs 11.51 crore which is a big milestone for us.

We remain on our growth path despite various economic and geopolitical headwinds in the FY22 we have seen good growth in our Revenue and Profitability. This shows our inherent strength and resilience as organization.

In Q4 FY22 prices of our primary raw materials were all-time high due to some geopolitical factors despite that we have seen decent growth in our Revenue and Profitability.

Despite current challenging times, we are very optimistic about the Indian consumption story and FY23 for the Mitsu Chem Plast."

Mitsu Chem Plast Limited (BSE - 540078) is a certified polymer based moulded products manufacturing company, engaged in the business of manufacturing and marketing of technically driven innovative products catering to growing industry sections like, Industrial Packaging Solutions, Automotive Components, Healthcare Products, Infrastructure related products & Emergency Handling Solutions with an in-house testing and quality control systems and machines.

The key products of the company are Moulded Industrial Plastic Packaging products such as Drums, Jerry Cans, Bottles, Jars and its accessories; Infrastructural furniture parts such as chair shells; Hospital Furniture Parts such as Panels, Railings, Planks, Trolley Parts; Rescue & Safety Equipment such as Spine Board; Automotive Components such as Washer Tanks, Rainhood.

The company majorly supply's to OEMs of various industries such as chemical, pharmaceutical, dyes, agro-chemical, disinfectants, diagnostic, hospital & infrastructure furniture, automotive manufacturers.

The Journey of the Company started 30 years back with a plant situated at Boisar, Tarapur and have enlarged its wings up to three manufacturing units situated in Maharashtra i.e. Two (2) units situated at Boisar, Tarapur and one (1) unit in Khalapur.

Safe harbor statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

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