Oriental Aromatics, is one of the largest Indian manufacturers of a variety of aroma chemicals, camphor, fragrances and flavours on January 21 reported a 106.12% rise in consolidated net profit for the quarter ended Dec.31, 2020.

The company has earned Rs 363.6 million in the third quarter compared with Rs 176.4 million in the corresponding quarter a year ago.

Net sales of the company for the quarter increased by 8.69% to Rs 1906.8 million compared to Rs 1754.4 million in the corresponding quarter of the previous financial year.

Oriental Aromatics EPS has increased to Rs 10.80 in December 2020 from Rs 5.24 in December 2019.

During the quarter, the company witnessed a healthy demand across all product categories i.e. Aroma Chemicals, Flavours & Fragrances and Camphor.

Sales Volumes for the quarter grew by 7% on a Q-o-Q basis and 13% on a Y-o-Y basis.

Sales Realizations for Camphor improved during the quarter on a Y-o-Y and Q-o-Q basis, while realizations for the aroma chemicals and Flavours & Fragrance division were flattish.

The company was carrying low-cost inventory of Raw Material and was successful in getting higher price realisation for its finished goods, this has resulted in better margins for the current quarter; although the company has witnessed increase in the raw material prices since.

Cash profit stood at Rs 406 million, an increase of 82% on a Y-o-Y basis and 7% on a Q-o-Q basis.

Net Debt/Equity ratio as on Dec.31, 2020 further improved to 0.03x from 0.06x as on Mar.31, 2020.

The company received its land allotment for the greenfield capacity expansion project at Mahad, Maharashtra in the month of October 2020 and has initiated its process for application of environmental clearance and other such approvals.

Shares of the company declined Rs 56.7, or 8.47%, to settle  at  Rs 612.55.  The total volume of shares traded  was  19,657 at  the BSE (Thursday).