Archean Chemical declines after weak Q4 performance

Archean Chemical Industries slipped 3.87% to Rs 619.85 after the company reported 56.4% fall in net profit to Rs 59.64 crore on a 25.9% decline in net sales to Rs 283.39 crore in Q4 FY24 as compared with Q4 FY23.

Total operating expenditure during the period rose by 3.9% year-over-year to Rs 195.28 crore. In Q4 FY23, interest cost was Rs 2.17 crore (down 36.5% YoY) and depreciation charges added up to Rs 17.47 crore (up 1.2% YoY).

Profit before tax in Q4 FY24 stood at Rs 82.29 crore, down by 54.9% from Rs 182.39 crore in Q4 FY23.

For FY24, Archean Chemical has reported net profit and net sales of Rs 322.35 crore (down 16% YoY) and Rs 1,329.58 crore (down 7.7% YoY), respectively.

 

Archean Chemical Industries is a leading specialty marine chemical manufacturer in India and it focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.

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