iStockFor the nine-month period ending December 31, 2021, standalone total income from operations went up to Rs 1,363.51 crore from Rs 875.15 crore registered during the corresponding period last fiscal, the company said.

Chennai: Chemical manufacturer Chemplast Sanmar’s revenues shot up by 33% to Rs. 1,452 crore during the third quarter of FY22 on account of higher realizations per tonne for key products.

The company which reported its results on Saturday said EBITDA grew 25% year-on-year to Rs. 353 crore while profits too for the third quarter grew by 48% to Rs. 237 crore.

Chemplast Sanmar said the demand for both specialty polyvinyl chloride (PVC) and suspension PVC has picked up strongly and the built-up inventory is expected to get diluted in near term.

“On the volume front, while the caustic soda volume for the quarter was higher, specialty paste PVC and suspension PVC volumes were lower on a YoY basis, primarily due to restrictions around operation of downstream units in the NCR Region due to poor air quality and the extended monsoons during the third quarter of FY22,” the company said in a statement on Saturday.

However, Sanmar said that the demand for both specialty paste PVC and suspension PVC has picked up strongly and the built-up inventory is expected to get diluted in near term. It went on to add that the product pipeline is strong with a number of projects at various stages of commercialization.

“Debottlenecking of Suspension PVC capacity by 10% is expected to come fully online by the first quarter of FY23. This is a phased debottlenecking, part of which is already completed,” the company said.

Chairman Vijay Sankar said the company is looking to expand its capital investments in speciality PVC, where it is going to double capacity by 50%. Further, he told ET that the Egyptian chemical business under TCI Sanmar is also doing well.

“It’s also one of the largest PVC companies in the Middle East and North Africa region,” he said. “We’ve had a good year focused on improving the utilisation and market access. So focus will be to grow that as well. We are the only PVC company present in two fast growth and import-led markets – Middle East and North Africa apart from India.”

He said that the company was not looking at expansion elsewhere as these two markets provided great opportunity considering the demand is almost a million and a half tonnes each while India is close to two million tonnes of imports.