Mitsu Chem’s Growth Story Continues FY22 Revenue Up 44%


Bombay (Maharashtra) [India]May 4 (ANI/PNN): Mitsu Chem Plast Limited (Mitsu) (BSE: 540078), one of the world’s largest manufacturers of blow molding, injection molding and custom molding, announced its audited financial results for the 12 months and the fourth quarter of fiscal year 22. Key highlights for fiscal year 22:

For fiscal year 22 long-term borrowings reduced by 10.67% yoy to Rs 28.55 crore

For FY22, operating cash flow stood at Rs 8.18 crore.

For FY22, the debt ratio was 1.32 times compared to 1.61 times in FY21. For FY22, ROE and ROCE were at 22, 60% and 21.01% respectively.

For FY22, EBITDA and PAT margin were 10.36% and 4.45% respectively

For the fourth quarter of FY22, EBITDA and PAT margin were 11.19% and 4.43% respectively. and PAT of Rs 11.51 crore, which is a milestone for us.

We remain on our growth trajectory despite various economic and geopolitical headwinds in FY22, we saw good revenue and profitability growth. This shows our inherent strength and resilience as an organization. In the fourth quarter of FY22, our primary commodity prices were at an all-time high due to certain geopolitical factors, despite the fact that we experienced decent revenue and profitability growth.

Despite the current tough times, we are very optimistic about India’s consumer story and FY23 for Mitsu Chem Plast. innovative technically oriented products for growing industrial sectors such as industrial packaging solutions, automotive components, healthcare products, infrastructure products and emergency treatment solutions with systems and internal testing and quality control machines.

The Company’s main products are molded industrial plastic packaging products such as drums, jerry cans, bottles, jars and their accessories; Infrastructure furniture pieces such as chair shells; Hospital furniture parts such as panels, railings, boards, trolley parts; Rescue and safety equipment such as backboard; Automotive components such as windscreen washer reservoirs, rain cover. The company mainly supplies equipment manufacturers in various industries such as chemical, pharmaceutical, dyes, agrochemicals, disinfectants, diagnostics, hospital and infrastructure furniture, car manufacturers.

The company journey started 30 years ago with a factory located in Boisar, Tarapur and expanded its wings to three manufacturing units located in Maharashtra i.e. two (2) units located at Boisar, Tarapur and one (1) unit at Khalapur. Safe Harbor Statement:

Statements contained herein relating to future status, events or circumstances, including, but not limited to, statements about plans and objectives, research and development progress and results, potential project characteristics, project potential and target dates for project-related issues are forward-looking statements based on estimates and anticipated effects of future events on current and developing circumstances. These statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company undertakes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors. This story is provided by PNN. ANI shall in no way be responsible for the content of this article. (ANI/PNN)

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