NOCIL rises after Q3 PAT surges 6% YoY to Rs 22 cr

NOCIL gained 4.13% to Rs 148.60 after the company reported a 6.3% rise in consolidated net profit to Rs 22.31 crore on a 41.3% rise in net sales to Rs 274.57 crore in Q3 FY21 over Q3 FY20.

The specialty chemical maker's consolidated profit before tax rose 2.4% year on year to Rs 30.11 crore in Q3 FY21. Current tax expense declined 22.5% to Rs 6.08 crore in Q3 FY21 over Q3 FY20.

The company's consolidated operating EBITDA grew by 3% to Rs 38 crore in Q3 FY21 from Rs 37 crore posted in the same period last year. Operating EBITDA margin fell to 13.7% in Q3 FY21 from 18.8% in Q3 FY20.

NOCIL said that FY21 will register 8-10% growth, inspite of weak Q1FY21 due to COVID-19. The chemical maker said it has a comfortable liquidity position. The company is debt free and it is meeting working capital requirements through internal accruals.

NOCIL is in the business of manufacturing of rubber chemicals. It offers basic organic chemicals. The firm is engaged in the business of manufacturing and trading of rubber chemicals.

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