Archean Chemical sizzles after Q3 PAT soars 100% YoY to Rs 98 cr

Archean Chemical Industries rallied 4.92% to Rs 677.50 after the specialty chemical maker's standalone net profit zoomed 100.5% to Rs 98.28 crore in Q3 FY23 as compared to Rs 49.02 crore reported in Q3 FY22.

Revenue from operations stood at Rs 364.92 crore in Q3 FY23, up 18.7% from Rs 307.32 crore posted in the corresponding quarter previous year.

Profit before tax surged 99.4% year on year to Rs 131.45 crore in in the quarter ended 31 December 2022.

EBIDTA in Q3 FY23 was at Rs 167.65 crore, registering a growth of 36% as against Rs 123.28 crore recorded in Q3 FY22. EBIDTA margin improved to 45% in Q3 FY23 as compared to 39.3% reported in the same period last fiscal.

Archean Chemical Industries is a leading specialty marine chemical manufacturer in India and it focused on producing and exporting bromine, industrial salt, and sulphate of potash to customers around the world.

Shares of Archean Chemical Industries debuted on the bourses on 21 November 2022. The scrip was listed at a price of Rs 449, representing a premium of 10.32% as compared to the initial public offer (IPO) price of Rs 407.

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