Mitsu Chem FY23 Total Income Up 19%

Mumbai (Maharashtra) [India], May 18: Mitsu Chem Plast Limited (Mitsu) (BSE:540078), One of the largest manufactures of Blow Molding, Injection Molding and Customized Molding, announced its audited Financial Results for Q4 & FY23.

Key Financials at a Glance: 

FY23

• ₹ 309.33 Cr
• EBITDA at ₹ 26.60 Cr
• PAT at ₹ 11.80 Cr
• EPS at ₹ 9.78
• Cashflow from operation is ₹ 21.99 Cr

Q4 FY23 

• Total Income at ₹ 83.17 Cr
• EBITDA at ₹ 7.58 Cr
• PAT at ₹ 3.30 Cr
• EPS at ₹ 2.73

Commenting on the performance, Mr. Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, 

“We are thrilled to report that despite higher costs, we have managed to achieve revenue growth and maintain profitability in FY22. We understand that raw material prices remain a major concern, but we are actively working on optimizing our costs to further improve profitability.

Fortunately, we have seen some improvement in raw material prices during Q4 compared to Q3, and we are confident that this trend will continue into FY24. This gives us a positive outlook for the coming year, and we expect FY24 to be a good year from a growth perspective.

We are taking various cost optimization measures to ensure that we continue to maintain profitability while growing our revenue. Additionally, we are closely monitoring market trends and factors that could impact demand in the future. We believe that with the right strategies and contingency plans in place, we can navigate any potential risks and continue to thrive as a company.” 

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