Vinati Organics Ltd Share Price – NSE  /  BSE

Chemicals, Small Cap

Total expenses dropped by 18% to Rs 351.32 crore in the second quarter from Rs 430.89 crore recorded in the same period last year. This was primarily due to lower raw material costs (down 26% YoY) and lower power and fuel costs (down 28% YoY).

Profit before tax in Q2 FY24 stood at Rs 113.02 crore, down by 27% from Rs 155.38 crore recorded in Q2 FY23.

Vinati Organics is one of India's leading manufacturers and exporters of specialty organic intermediaries, monomers, and polymers.

The scrip lost 0.67% to currently trade at Rs 1753 on the BSE.

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Net profit of Vinati Organics declined 27.45% to Rs 84.16 crore in the quarter ended September 2023 as against Rs 116.01 crore during the previous quarter ended September 2022. Sales declined 20.86% to Rs 448.14 crore in the quarter ended September 2023 as against Rs 566.29 crore during the previous quarter ended September 2022.

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Vinati Organics will hold a meeting of the Board of Directors of the Company on 7 November 2023.

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Vinati Organics has received revision in credit ratings from CARE as under:

- Fund-based - LT-Cash Credit - Upgraded from 'CARE AA; Positive' to 'CARE AA+; Stable'
- Fund-based - LT/ ST-CC/PC/Bill Discounting - Upgraded from 'CARE AA+; Stable' to 'CARE AA+; Stable/CARE A1+'
- Non-fund-based - ST-BG/LC - Reaffirmed at 'CARE A1+

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