Laxmi Organic Industries Q4 PAT grows year-on-year

The consolidated net profit surged 58% from Rs 57.40 crore for the quarter ended March 2022 as compared with Rs 36.34 crore during the quarter ended March 2021.

Consolidated net sales surged 69.4% to Rs 879.86 crore in Q4 FY22 from Rs 519.52 crore posted in Q4 FY21. Profit before tax rose by 15.9% to Rs 56.47 crore in Q4 FY22 over Rs 48.73 crore in Q4 FY21.

Total expenses spiked 77% to Rs 806.95 crore in Q4 FY22 from Rs 455.85 crore in Q4 FY21. Cost material consumed jumped 77.1% to Rs 455.61 crore in Q4 FY22 over Rs 257.30 crore in Q4 FY21.

On a sequential basis, Laxmi Organic Industries posted a 30.06% declined quarter on quarter in consolidated net profit to Rs 57.40 crore in Q4 FY22 from Rs 82.08 crore in Q3 FY22.

The chemical manufacturer reported a 101.8% jump in the net profit to Rs 256.37 on 74.4% increase in net sales to Rs 3,084.19 crore in FY22 over FY21.

The board of directors recommended a final dividend of Rs 0.70 per share for the financial year ended 31 March 2022.

Meanwhile, Partha Roy Chowdhury will retire from his position as chief financial officer (CFO) and a key managerial personnel (KMP) on 5 May 2022 and Tanushree Bagrodia will be taking over the position from the next day, 6 May 2022.

Tanushree Bagrodia holds bachelor of computer engineering degree from Vivekananda Education Society's Institute of Technology and has also done investment management program from London Business School and Master of Business Administration (MBA) from INSEAD. She has over 17 years of experience. She is currently associated as a nominee director of International Finance Corporation (IFC) on the board of regency healthcare - Kanpur.

Shares of Laxmi Organic Industries tumbled 5.46% at Rs 401.15 on BSE. Laxmi Organic Industries is a leading manufacturer of Acetyl Intermediates and Specialty Intermediates with almost three decades of experience in large scale manufacturing of chemicals.

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