One of the largest manufacturers of castor oil and speciality chemicals in India and globally, Jayant Agro (BSE: 524330 | NSE: JAYAGROGN), published its financial result for the quarter ended June 30, 2018. The company reported a profit of INR 15.6 crore in the quarter ending June 2018, up 23% against INR 12.7 crore in the sequential quarter ended March 2018. The EBITDA in the quarter at INR 40.2 crore is sequentially higher by 13.6%.
Jayant Agro posted revenue of INR 632.5 crore in the quarter ending June 2018, up 4.5% against INR 605 crore in the corresponding quarter ended June 2018. The company’s EPS at INR 4.78 is sequentially higher by 21.6%.
The company started the year on a positive note with a stable business environment. The exports for the castor oil industry witnessed buoyant demand, which is expected to improve steadily in the long run. With the petroleum prices rising, castor oil based products offer an eco-friendly alternative to many petroleum-based products. Jayant Agro’s joint ventures in the international market have started to pay off and positions the company as leading, consistent and reliable suppliers to the world market.
Speaking on the results, Abhay Udeshi – Chairman and Whole-time Director at Jayant Agro Group, said, “We have to consolidate our performance as we prepare for the next level of growth by introducing new products and adding downstream products to the existing portfolio. The versatility provided by our R&D centre not only helps to launch new products, but also enables to respond dynamically to the changes in the market. We sell more than 75 different products to over 70 countries across the globe.”
“We have placed faith in the Indian farmers, particularly in the castor seed growing regions of Gujarat and Rajasthan to increase castor seed availability in a meaningful way. It has been our endeavour to support the efforts of the farmers by providing them with a market for their produce,” Abhay Udeshi added.