MOSCOW (MRC) -- Chemplast Sanmar Ltd., a major chloralkali manufacturer based in India, announced its results for the third quarter ended December 31, 2021, according to Kemicalinfo.
The company’s net profit grew 56.5% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.51 billion for the previous quarter.
Net sales decreased 13.6% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 16.95 billion during the previous quarter.
The company’s net profit grew 48.1% to Rs 2.37 billion for the period ended December 31, 2021 as against net profit of Rs 1.59 billion during the prior-year quarter.
Net sales increased 34.2% to Rs 14.65 billion during the period ended December 31, 2021 as compared to Rs 10.91 billion during the prior-year quarter.
Chemplast Sanmar Ltd is engaged in the business of manufacture and selling polyvinyl chloride (PVC) resins, caustic soda, chlorochemicals, refrigerant gas and industrial salt.
Ramkumar Shankar, MD, Chemplast Sanmar, said: “The demand outlook for both paste PVC and suspension PVC is quite strong due to significant deficit and high import dependence in the domestic market. Increasing tight supply at the global level for both these products augurs well for domestic manufacturers like us. With our dominant position in the Indian market and expansion plans to cater to the growing demand, we are well-placed to benefit from uptick in PVC market.”
As MRC reported earlier, Chemplast Sanmar undertook a planned shutdown at its Cuddalore PVC unit in September, 2020. Thus, the maintenance works at this unit began on September 27, 2020. The unit remained off-line for about 4-5 days. Located in Tamil Nadu, India, the Cuddalore PVC unit has a production capacity of 300,000 mt/year.
According to MRC's ScanPlast report, Russia's overall PVC production reached 87,100 tonnes in 2021, down by 3% year on year. Three producers slightly decreased their output.
Chemplast Sanmar Limited is a chemical company based in Chennai, Tamil Nadu. It is part of Sanmar Group which has businesses in Chemicals, Shipping, Engineering and Metals. It has a turnover of over Rs.65 billion and a presence in some 25 businesses, with manufacturing units spread over numerous locations in India.Chemplast Sanmar's manufacturing facilities are located at Mettur, Panruti, Cuddalore and Ponneri in Tamil Nadu, Shinoli in Maharashtra, and Karaikal in the Union Territory of Puducherry. It is a major manufacturer of PVC resins, chlorochemicals and piping systems. The Cuddalore PVC project commissioned in September 2009 is the largest such project to come up in Tamil Nadu. It's aggregate capacity of 235,000 tons makes it one of the largest PVC players in India.