Ami Organics Limited’s Q4FY23 revenue rose 30% to Rs. 1,864 million

Surat: Ami Organics Limited (AMI) (BSE: 543349, NSE: AMIORG) today reported financial results for the Quarter and Year ended March 31st, 2023.

Commenting on results, Mr. Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said: “The financial year 2023 has been very challenging on all fronts and I am happy that we have been able to deliver robust growth despite these challenges. Our full year total revenue grew by 19% YoY to Rs. 621cr. This was driven by Advance Pharmaceutical Intermediates business which grew strongly by 22% YoY.

We have used this challenging year to create various growth drivers for the coming years. One of the first initiatives was our electrolyte additives which have been approved by six clients and some of them have released plant scale trial orders. We are also expecting commercial orders from a few customers during the current quarter. Next initiative was to enter into long term exclusive contracts with customers and we have been able to sign some these contracts with some of our big customers. Third initiative was to expand product base for our specialty division with focus on products having high entry barriers. We have developed exciting product pipeline here and products are at different stages of validation and approvals. Some of these products are very big and I will update you on these once they reach certain milestones.

“I am also pleased to share the acquisition of 55% stake in Baba Fine Chemicals (BFC), a leading speciality chemicals company supplying products to the semiconductor industry. BFC has very niche products with high entry barriers, and we are excited to work with them and help them ramp-up their products at higher volumes.Overall, I remain confident of continuing the strong growth momentum in FY24.”