Chemfab Alkalis Surges 10% Today after Declaring Q4 Results!

As the season of financial results is on, Chemfab Alkalis Ltd has reported results for Q4FY23 and year ended on March 31, 2023.  

In comparison to the same quarter last year, the company’s net profit for the fourth quarter that ended on March 31, 2023, increased by 19.03% to Rs 15.26 crore from Rs 12.82 crore on a consolidated basis. In Q4FY23, the company’s total revenue declined by 17.87% to Rs 74.80 crore from Rs 91.07 crore in the similar quarter the year prior.  

The company reported 124.63% increase in net profit for the year ended March 31, 2023, from Rs 64.58 crore to Rs 28.75 crore on a consolidated basis. When compared to the year ended March 31, 2022, the company’s total revenue climbed by 21.50%, reaching Rs 336.89 crore as compared to Rs 277.29 crore for the year ended March 31, 2022.  

Earlier the company had given a dividend of Rs 1.25 per equity share on September 7, 2022. Now the board has recommended a final dividend of Rs 1.25 per equity share with a face value of Rs 10 for the fiscal year ending March 31, 2023, subject to approval by the company’s shareholders in the Annual General Meeting.    

In yesterday’s trading session, scrip was closed at Rs 284.05. Today it opened at Rs 285.10 and touched a high of Rs 312.45 and low of Rs 285.10. Scrip closed around Rs 312.45, up by 10%. So far, a total 22,506 shares were traded over the counter at BSE.   

The BSE group ‘B’ stock has market cap of around Rs 440 crore. It had a 52-week high of Rs 477.45 and 52-week low of Rs 152.10.  

Chemfab Alkalis is the first chloralkali plant in India, to introduce and successfully implement Ion Exchange Membrane Cell technology for chlor-alkali production, in 1985. CCAL has upgraded with BiTAC electrolysers, for the first time in India. It has products like caustic soda lye in two grades (33% & 48%), liquid chlorine, hydrogen gas, hydrochloric acid and sodium hypochlorite.