Tamilnadu Petroproducts improves revenue and operating profits in Q1 FY21-22

Total income doubled and earnings tripled over Q1 FY20-21

By teadmin On Aug 9, 2021

New Delhi: Tamilnadu Petroproducts Limited (TPL), Chennai based Petrochemical manufacturing company and part of AM International – Singapore, announced its first quarter results for FY2022 today.

Financials:

TPL posted an increase of about 32% in its revenue in Q1 FY 21-22 over the preceding quarter and EBIDTA went up by about 9.50%. Compared to the preceding quarter of the previous financial year, which witnessed strict lockdowns and related restrictions, during the latest quarter the sales have doubled and the profits tripled.

In comparison to the last quarter of the previous year, PBT and PAT for the quarter are higher by about 14% and 44% without (reckoning) considering the exceptional credits in that quarter.

Financial Performance

(In INR crore)

Particulars	Stand Alone
	Quarterly
	Q1FY22	Q1FY21	Q4FY21
Revenues	464.37	221.67	352.55
EBITDA	81.21	23.90	74.19
PBT	74.09	16.59	89.86
PAT	54.64	12.41	62.73

Other information :

Mr. N Muruganandam, IAS, Principal Secretary, Industries has been appointed as the Non-Executive Chairman of the Board and Mr. Pankaj Kumar Bansal, IAS, CMD of TIDCO and Ms. R Bhuvaneswari, GM, TIDCO as Non-Executive Directors, all nominated by TIDCO. The Board has decided to hold the annual meeting of the shareholders on 15^th September 2021 through virtual mode.

Leadership Comment:

Mr. Ashwin Muthiah, Vice Chairman – TPL and Founder Chairman,
AM International, Singapore said:

TPL’s healthy results showcase the company’s continued focus on efficient operations and profitable growth. The State Government of Tamil Nadu’s support will help us speed up our various projects, further benefitting the company in terms of modern technology, capacity expansion and environmentally friendly operations. I congratulate and wish my colleagues at TPL good health and safety during the current times.

Tamilnadu Petroproducts Limited

Mr. Muthukrishnan Ravi, CEO, Petrochemicals Division of AM International group said that TPL, taking advantage of the global market conditions, has continued to improve its performance over the preceding periods. The full benefits of the NP capacity augmentation are being realized, he added.