Mitsu Chem Plast Reports Rs 9 Cr PAT for FY24

PNN

Mumbai (Maharashtra) [India], May 17: Mitsu Chem Plast Limited (Mitsu) (BSE:540078), One of the largest manufactures of Blow Molding, Injection Molding and Customized Molding, announced its audited Financial Results for Q4 & FY24.

FY24 Key Financials at a Glance:

* Total Income at Rs 312.28 Cr

* EBITDA at Rs 25.67 Cr

* PAT at Rs 8.86 Cr

* EPS at Rs 7.12

Q4 FY24 Key Financials at a Glance:

- Total Income at Rs 82.55 Cr

- EBITDA at Rs 7.52 Cr

- PAT at Rs 2.83 Cr

- EPS at Rs 2.28

Commenting on the performance, Jagdish Dedhia, Chairman of Mitsu Chem Plast Limited said, "I am pleased to announce the results for the fourth quarter and the full fiscal year 2024. Mitsu has demonstrated remarkable performance and our focus remains on enhancing operational efficiencies, expanding our product portfolio, and strengthening our market presence.

We received an outstanding response to our recent rights issue during this quarter. We deeply appreciate the trust and confidence shown in us. This achievement underscores our dedication to excellence, innovation, and sustainable progress.

We eagerly anticipate the opportunities ahead and are prepared to deploy these resources thoughtfully to fortify our industry position. Our pledge to foster sustainable growth and drive innovation remains steadfast, and we are enthusiastic about leveraging these funds to propel our company to unprecedented achievements within the industry.

Our unwavering commitment to innovation and quality has enabled us to meet the evolving needs of our customers and maintain a competitive edge in the industry."

Highlights for Q4 FY24 (January 2024 - March 2024)

Right Issue

The company successfully completed the allotment of 15,09,075 partly paid-up equity shares, each with a face value of Rs 10, at a price of Rs 144 per share, which includes a share premium of Rs 134. This allotment was executed with 50 per cent of the issue price, amounting to Rs 72 per share, being paid upon application.

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