Earnings for the September-ended quarter of the chemical manufacturing company showed margins contracting, while topline grew at a healthy pace. Sunil Chari, co-founder and Managing Director, told CNBC-TV18 that the quarter gone by was unprecedented. "We had never seen such volatility in raw material prices," he said.
The chemical manufacturing company reported earnings for the September-ended quarter. Margins contracted but topline growth was healthy.
“We see better margins than in the last quarter (Q2FY22). The last quarter was unprecedented. We had never seen such volatility in raw material prices. However, we are just 45 days into this quarter. So, I would like to wait before we give a better guidance, but we should be able to do better in terms of topline and bottomline in this quarter,” Chari said.
On demand, he said, “We got healthy tailwind last quarter. We were able to supply all our customers on time, and because of our healthy financial position we were able to cover more raw material than was needed. This helped us gain goodwill with the customers.”
For the entire management interview, watch the video