Camlin Fine Chem Q3 net up 23% at Rs 3.15 cr

Camlin Fine Chemicals has registered a 28.3 per cent jump in gross sales/income from operations at Rs 89.92 crore during the nine-months period ended December as against Rs 70.11 crore during the corresponding period last year.

The company's profit before tax stood at Rs 5.47 crore during the nine months ended December as against Rs 3.57 crore during the same period last year, registering a growth of 52.9 per cent, a company statement said here today.

Net profit stood at Rs 3.15 crore during the nine-months period compared to Rs 2.56 crore in the same period last year.

The company has posted a net profit of Rs 44.89 lakh on a gross sales of Rs 34.36 crore in Q3.

Camlin Fine Chemicals is the world's largest manufacturer of food grade antioxidants. The company's R&D along with process development team have developed new products, which would expand the reach of the company in other segments of the industries, like polymers, rubber, resins and plastics, company managing director Ashish Dandekar said.

The company, through its own subsidiary, Sangam Labs, has already ventured in production of nutraceuticals namely Glucosamine and its salts which are used as a supplement in bone management in conditions like osteoarthritis and have wide spread usage in the US and Europe, the volumes are in excess of 2000mt in these markets alone, Dandekar said.
 
The company has strategic plans to enter the markets of the US and Europe to enter the bulk market of Glucosamine and also in value addition segment in the finished formulations like tablets and sachets.