I G Petrochemicals Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2022
May 20, 2022 at 11:12 am EDT
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I G Petrochemicals Limited reported earnings results for the fourth quarter and full year ended March 31, 2022. For the fourth quarter, the company reported sales was INR 5,172.06 million compared to INR 4,244.01 million a year ago. Revenue was INR 5,191.26 million compared to INR 4,253.08 million a year ago. Net income was INR 736.23 million compared to INR 998.51 million a year ago. Basic earnings per share from continuing operations was INR 23.91 compared to INR 32.42 a year ago.
For the full year, sales was INR 18,827.65 million compared to INR 11,236.19 million a year ago. Revenue was INR 18,897.39 million compared to INR 11,269.47 million a year ago. Net income was INR 2,645.03 million compared to INR 1,881.08 million a year ago. Basic earnings per share from continuing operations was INR 85.88 compared to INR 61.08 a year ago.
I G Petrochemicals Limited (IGPL) is engaged in the manufacturing of phthalic anhydride and maleic anhydride. The Company is engaged in the manufacture and sale of organic chemicals. It also produces benzoic acid and diethyl phthalate (DEP). Phthalic Anhydride is used in poly vinyl chloride (PVC) products, pipes and hoses, boxes, container, and shoes, wires, and cables; alkyd resins and paints, such as paints, lacquers, dyes insect repellents, and urethane polyester polyols, and unsaturated polyester resin, such as thermostat for manufacturing of fiberglass-reinforced plastics. Benzoic Acid is used in perfumes, dyes, topical medications, insect repellants, and food preservatives. Maleic Anhydride is used in the manufacturing of lubricating oil additives, personal care products, water treatment, detergents, insecticides and fungicides, and unsaturated polyester resins (UPR). It produces maleic anhydride through wash water generated out of the production process.