Chemplast Sanmar: Navigating Challenges and Catalyzing Growth

Chemplast Sanmar Ltd reported a reduced net loss of Rs 49 crore for Q3 2024, aided by better Paste PVC prices and Custom Manufacturing success. Despite price and margin pressures from global dumping, the company's revenue improved significantly, signifying a promising future in the specialty chemicals sector.

Specialty chemicals entity, Chemplast Sanmar Ltd, disclosed a net loss of Rs 49 crore for the October-December 2024 quarter, a notable reduction from the Rs 89 crore loss recorded in the previous year.

This Chennai-based company, part of the diversified Sanmar Group and SHL Chemicals, saw improvement in performance due to advantageous prices and margins for Paste PVC, enhanced outcomes in its Custom Manufacturing Division, and amplified volumes from its new Cuddalore plant.

Revenue from operations climbed to Rs 1,058 crore in this period, significantly more than the past Rs 888 crore. For the nine months ending December 31, 2024, revenue spiked to Rs 3,195 crore from Rs 2,872 crore the year before. The firm plans to keep expanding its specialty segment to leverage favorable market conditions.

(With inputs from agencies.)