Bodal Chemicals annual sales up by 18.75% at Rs 479.35 crore

By Representative:
Bodal Chemicals Ltd, India 's leading manufacturer and marketer of Dye and Dye intermediates, has recorded a profit of Rs 14.03 crore driven by higher sales and cost efficiencies. The Company had registered a loss of Rs11.09 crore in the previous fiscal.

The Board of Directors has recommended a final dividend of 9% on equity share of face value of Rs 10. Together with an interim dividend of 18% declared earlier, the total dividend for the financial year 2009-10 stands at 27%.

According to the audited annual results of 2009-10, Total sales and income from operations rose 18.75% to Rs 479.35 crore from Rs 403.65 crore in the previous year. The Profit Before Tax (PBT) stood at Rs.20.41 crore as against a loss of Rs. 16.99 crore in the corresponding period. EBIDTA for the financial year 2009-10 shot up 330% to Rs 52.72 crore against Rs 12.26 crore in 2008-09.

Speaking on the results, Mr. Suresh J Patel, Chairman and Managing Director of Bodal Chemicals said, "The commitment to building value for customers and driving operational efficiencies have not only put the company back on a profitable track but also made immensely strong in the market. We are integrating across the value chain to have better control over margins. Through the year 2009-10, three facilities were successfully commissioned expanding our capacity, adding new products to our range and giving us captive supply of raw material leading to better cost control. We expect to further enhance our control over the raw material costs with the commissioning of the Sulphuric Acid plant in June 2010."

Bodal Chemicals commissioned a Rs 53 crore Dyes project (at Padra unit near Vadodara) with manufacturing capacity of 12000MTPA taking its total capacity to 17000 MTPA. On the raw material front, Bodal Chemicals has commissioned a Beta Nepthol plant and a PNA plant.

"Bodal has become the only company in India to straddle Basic Chemicals, a wide range of Dye intermediates and dye stuff. We have expanded our range in keeping with the global market trends and today we manufactures over 25 varieties of Dye Intermediates and around 150 variants in Dyestuff," Mr Patel said.