Sudarshan Chemical Industries Ltd reported a 67% year-on-year (YoY) increase in net profit to ₹29.9 Crore for the second quarter ended September 30, 2024.
Sudarshan Chemical Industries reported a net profit of ₹17.9 Crore for the same period in the previous fiscal year, according to a regulatory filing. Revenue from operations climbed by 16% to ₹689 Crore, up from ₹594.7 Crore in the previous fiscal period.
EBITDA increased by 47% to ₹87.4 Crore in the second quarter of this fiscal year, up from ₹59.5 Crore in the same period last year.
The EBITDA margin was 12.7% in the reporting quarter, up from 10% in the same period last fiscal year.
Sudarshan Chemical Industries paid €127.5 Million (roughly ₹1,180 Crore) for the Heubach Group, a major pigment maker.
SCIL will acquire Heubach’s assets and business operations through its subsidiary, Sudarshan Europe B.V., including Heubach Colourants Germany GmbH, Heubach GmbH, Dr Hans Heubach GmbH, Heubach Group GmbH, and Heubach Holding Switzerland AG’s participation in downstream Group Companies in various countries.
Heubach, with approximately €1 Billion in revenue for FY21 and FY22, is a major participant in the speciality chemicals market, particularly organic and inorganic pigments. The company, known for its 200-year tradition, increased its global footprint with the acquisition of Clariant’s BU Pigments in 2022.
In addition, SCIL would acquire a 100% share in Heubach Holdings S.a.r.l., a Luxembourg-based holding company with investments in India and the United States.
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