Kanoria Chemicals reveals Indian chemicals slowdown


The chemicals industry in India is thought to have suffered at the hands of the economic slowdown, exemplified by the recent financial results and comments to have emanated from the country’s leading manufacturer of chemical intermediates.

Kanoria Chemicals & Industries Limited (KCI) reported net sales of Rs. 374 crore for the 9 months ended 31st December 2008, an increase of 17% compared to Rs. 320 crore in 9MFY08.

EBIDTA of Rs. 81 crore for 9MFY09, compared to Rs. 72 crore in the corresponding period last fiscal period, was also an improvement, however a leading figure within the company also described the ‘slowdown in the current macro economic environment’ and a ‘cascading negative impact’ which led to lower realisations.

The company’s net profit for 9MFY09 stood at Rs. 7 crore, while operating margin for 9MFY09 was at 21.7%.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...