Mitsu Chem 9M FY23 Total Income increases  23%

Mumbai : Mitsu Chem Plast Limited (Mitsu) (BSE:540078), One of the largest manufacturers of Blow Molding, Injection Molding, and Customized Molding, announced its unaudited Financial Results for Q3 & 9M FY23.

Key Financials at a Glance:

9M FY23

• Total Income for 9M FY23 at ₹. 226.16 Cr
• EBITDA for 9M FY23 at ₹. 19.02 Cr
• PAT for 9M FY23 at ₹. 8.51 Cr
• EPS for 9M FY23 at ₹. 7.05

Q3 FY23

• Total Income for Q3 FY23 at ₹. 71.65 Cr
• EBITDA for Q3 FY23 at ₹. 5.25 Cr
• PAT for Q3 FY23 at ₹. 1.81 Cr
• EPS for Q3 FY23 at ₹. 1.50

Commenting on the performance, Mr. Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said,

“Increase in Raw material prices continues to be the concern for the quarter which are increasing due to various reasons like Inflation & Geopolitics which is giving some pressure on our margins but we have been able to maintain our EBITDA.

We have been working on a continuous basis to improve our margins through operating efficiency and improving product mix.”

About Mitsu Chem Plast Limited:

Mitsu Chem Plast Limited (BSE – 540078) is a certified polymer-based molded products manufacturing company, engaged in the business of manufacturing and marketing technically driven innovative products catering to growing industry sections like Industrial Packaging Solutions, Automotive Components, Healthcare Products, Infrastructure related products & Emergency Handling Solutions with an in-house testing and quality control systems and machines.

The key products of the company are Molded Industrial Plastic Packaging products such as Drums, Jerry Cans, Bottles, Jars, and their accessories; Infrastructural furniture parts such as chair shells; Hospital Furniture Parts such as Panels, Railings, Planks, Trolley Parts; Rescue & Safety Equipment such as Spine Board; Automotive Components such as Washer Tanks, Rainhood.

The company majorly supplies OEMs of various industries such as chemical, pharmaceutical, dyes, agrochemical, disinfectants, diagnostic, hospital & infrastructure furniture, and automotive manufacturers.

The Company has diversified its product portfolio by entering into new products viz. pails to cater to lubricants, paints, ink, and the food (FMCG) industry.

The Journey of the Company started 32 years back with a plant situated at Boisar, Tarapur, and has enlarged its wings up to three manufacturing units situated in Maharashtra i.e. Two (2) units situated at Boisar, Tarapur, and one (1) unit in Khalapur.