Thursday, November 9, 2023

IOL Chemicals And Pharmaceuticals Net Profit Jumps 141% To Rs. 37.8 Crore In Q2 FY24

·         Total income for Q2 FY24 stood at Rs. 552.4 crore against Rs. 570.2 crore QoQ and Rs. 546.5 crore YoY

·         EBITDA for Q2 FY24 at Rs. 71.2 crore as compared to Rs. 79.9 crore QoQ and Rs. 36.7 crore in YoY

·         Net profit for Q2 FY24 at Rs. 37.8 crore as compared to Rs. 46.2 crore in QoQ and Rs. 15.7 crore in YoY

IOL Chemicals and Pharmaceuticals Ltd, a leading manufacturer of pharmaceutical APIs and speciality chemicals, announced its financial results for the second quarter and first half year ended September 30, 2023.

Commenting on the performance, Mr Vikas Gupta, Joint Managing Director said, “With the global economy showing signs of stability, the pharmaceutical and chemical trade are likely to revive in the second half of this fiscal. We, at IOL, are pleased to announce another stellar quarterly performance amid the backdrop of strong growth in pharmaceutical sector. As the Company positions itself for upcoming opportunities through entry into regulated markets and focus on improved efficiencies, we are hopeful of sustained performance, thereby driving value creation for the shareholders and investors, alike.”    

About IOL Chemicals and Pharmaceuticals Limited (IOLCP)

Established in 1986 and listed on the National Stock Exchange of India Ltd (Code: IOLCP) and BSE Ltd (Code: 524164), IOL Chemicals and Pharma is one of the leading pharmaceutical (APIs) Companies and a significant player in the specialty chemicals space with world-class facilities. IOLCP has a wide presence across major therapeutic categories like Pain Management, anti-convulsants, anti-diabetes, anti-cholesterol and anti-platelets.

The Company’s product portfolio includes APIs; Ibuprofen, Metformin, Fenofibrate, Clopidogrel, Lamotrigine, Pantoprazole, Paracetamol and specialty chemicals such as Ethyl Acetate, Iso Butyl Benzene, Mono Chloro Acetic Acid and Acetyl Chloride.

The company is the World’s largest producer of Ibuprofen with an installed capacity of 12,000 TPA and having backward integrated manufacturing facility. The Company has DSIR-approved R&D which is fully equipped to validate existing processes.

The Central and State Government approved Effluent Treatment Plant (ETP) had been set up with Zero Liquid Discharge (ZLD) system along with a 17 MW captive Co-Generation plant for self-reliance. The Company is ISO 9001:2015, 14001:2015 and BS OHSAS 18001:2007 certified.

IOLCP's overseas customers are spread out across several countries including the UK, Belgium, Hungry, Spain, Germany, Italy, Netherlands, Switzerland, Poland, Ireland, USA, Peru, Brazil, Argentina, Colombia, Indonesia, South Korea, Thailand, Bangladesh, Turkey, U.A.E., China, Hong Kong, Egypt etc. Products are sold primarily to Branded Generic formulators both in India & Overseas.

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