MOSCOW (MRC) -- Clariant Chemicals (India) Limited, a focused, sustainable and innovative specialty chemical company today announced its financial results for the second quarter ended September 30, 2021, said the company.
The sales rose by 8%, at Rs. 194.9 crore, for the quarter ended September 30, 2021 as against Rs. 180.8 crore for the corresponding quarter in the previous year. However, Profit before exceptional item & tax stood at Rs. 6 crore for the quarter ended September 30, 2021, as compared to Rs. 12.2 crore for the quarter ended September 30, 2020.
For half year ended September 2021, the Profit before exceptional item & tax stood at Rs. 25.6 crore as compared to Rs. 16.3 crore for half year ended September 2020 – witnessing a strong recovery from the pandemic that has affected global trade in recent times. The Company reported sales of Rs. 407.6 crore in the first half of 2021, as against Rs. 309.8 crore for the corresponding half of the previous year.
The company reported Profit before exceptional items & tax of Rs. 6.0 crore for the quarter ended September 30, 2021, as compared to Rs. 19.6 crore for the quarter ended June 30, 2021 – witnessing a decline. The Sales declined by 8% at Rs. 194.9 crore, for the quarter ended September 30, 2021 as against Rs. 212.8 crore in the previous quarter. In general the overall industry was impacted by the increasing raw material and freight costs. The first half of this fiscal continued to exhibit strong resilience despite the headwinds faced by the markets.
As per MRC, Clariant says that its board has appointed Conrad Keijzer as the company’s new CEO, effective 1 January 2021. Hariolf Kottmann, Clariant’s executive chairman ad interim, will return to his position as chairman of the board, once Keijzer assumes responsibility.
Ethylene and propylene are the main feedstocks for the production of polyethylene (PE) and polypropylene (PP), respectively.
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,868,160 tonnes in the first nine months of 2021, up by 18% year on year. Shipments of all grades of ethylene polymers increased. At the same time, PP shipments to the Russian market were 1,138,510 tonnes in the first nine months of 2021, up by 30% year on year. Supply of propylene homopolymer (homopolymer PP) and block-copolymers of propylene (PP block copolymers) increased, whereas supply of injection moulding PP random copolymers decreased significantly.
Clariant AG is a Swiss chemical company and a world leader in the production of specialty chemicals for the textile, printing, mining and metallurgical industries. It is engaged in processing crude oil products in pigments, plastics and paints.