Clariant Chemicals' Q1 2016-17 Net Sales up by 10.5%

Mumbai, August 12, 2016 – Clariant Chemicals (India) Limited, India's leading specialty chemicals producer, reported a growth of 10.5% in Sales at Rs. 271 crore, for the quarter ended June 30, 2016 as compared to Rs. 245 crore in the same period last year. The company's reported Sales grew by 21% at Rs. 252 crore, in the core continuing business (plastics and coatings segment), for the quarter ended June 30, 2016 as compared to Rs. 209 crore in the same period last year.

The Profit Before Tax for the quarter ended June 30, 2016 rose to Rs. 20.80 crore (7.7% of sales) as against Rs. 5.6 crore (2.3% of sales) for the same period last year. This profitability improvement is due to better raw material management, targeting new customers and introducing innovative products, besides leveraging lean sigma tools for better efficiencies.

Dr. Deepak Parikh, Vice-Chairman & Managing Director, Clariant Chemicals (India) Ltd, said, "We have demonstrated substantial topline growth and overall profitability for the quarter, with sales registering a strong positive growth because of local and export markets, material management, effective distribution management and better cost control. A key pillar of Clariant's growth and success within the country has been the ability to provide innovative and sustainable solutions. We will stay focused in this direction to come up with customer-oriented solutions that make a difference. We strongly believe in India's potential to be a global manufacturing powerhouse, and will continue to invest towards the same."

Note to the editor Please note that Clariant Chemicals (India) Ltd. has changed its financial reporting cycle. Accordingly, the financial year is reported for a 15-month period commencing from January 1 2015 to March 31, 2016. And the April-June 2016 period is hence considered as Quarter 1 (Q1). You can access the latest Annual Report here.