The company's net profit declined 27.1% to Rs 32.57 crore despite of 10.1% jump in revenue from operations to Rs 685.17 crore in Q4 FY23 over Q4 FY22.

Profit before tax decreased 29.3% year on year to Rs 40.65 crore in Q4 FY23.

EBITDA fell 1.16% to Rs 85 crore in Q4 FY23 as compared with Rs 86 crore in Q4 FY22. EBITDA margin stood at 12.3% in Q4 FY23 as against 13.7% in Q4 FY22.

Total expense increased 14.13% to Rs 652.07 crore in Q4 FY23 as compared with Rs 571.33 crore in Q4 FY22. Employee benefit expense was at Rs 48.72 crore (up 7.31% YoY), finance cost stood at Rs 15.04 crore (up 175.46% YoY) while cost of material consumed stood at Rs 390.21 (down 17.24% YoY)

Revenue from pigment business stood at Rs 594 crore in Q4 FY23, registering the growth of 6% as compared with Rs 558 crore posted in corresponding quarter last year.

On full year basis, the company's consolidated net profit tumbled 65.6% to Rs 44.77 crore in FY23 as compared with Rs 129.97 crore in FY22. Revenue from operations increased 4.3% year on year to Rs 2,276.79 crore in FY23.

Meanwhile, the board has recommended a final dividend of Rs 1.50 per equity share for FY23.

Further, the company's board has approved the reappointment of Rajesh B. Rathi as a managing director of the company for a further term of 5 years effective from 1 June 2023.

Sudarshan Chemical Industries manufactures and sells a wide range of organic, inorganic pigments and effect pigments.