Omkar Speciality Chemicals, engaged in manufacturing and marketing of chemicals and API, has suffered setback during the fourth quarter ended March 2015 and its net sales declined by 46.2 per cent to Rs. 37.02 crore from Rs. 68.76 crore in the corresponding period of last year. Its EBIDTA moved down by 36.7 per cent to Rs. 7.60 crore from Rs. 12.04 crore. However, its net profit moved up by 18 per cent to Rs. 5.05 crore from Rs. 4.28 crore due to income from tax provision.
The board of directors has recommended equity dividend of 15 per cent for the year 2014-15. Omkar Speciality scrip closed lower by Rs. 4.30 to Rs. 158.60 on BSE today. It reached its yearly highest level at Rs. 184 on January21, 2015.
For the full year ended March 2015, Omkar's net sales declined by 7.8 per cent to Rs. 193.31 crore from Rs. 209.62 crore. However, its net profit moved up by 22.1 per cent to Rs. 17.83 crore from Rs. 14.60 crore mainly due to lower tax provision of Rs. 2.51 crore as against Rs. 6.13 crore in the previous year. Its EPS worked out to Rs. 8.89 as compared to Rs. 7.44 in the last year.
The company has successfully commissioned its Unit No VI, located at Lote Parshuram MIDC, Chiplun in Maharashtra. Its another unit in Ratnagiri district is likely to go on stream in short time. Its wholly owned subsidiary namely, Lasa Laboratory Pvt Ltd is implementing expansion program and will increase the capacities thereof by five folds.