Styrenix Performance Materials Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2022
February 13, 2023 at 03:57 am EST
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Styrenix Performance Materials Limited reported earnings results for the third quarter and nine months ended December 31, 2022. For the third quarter, the company reported sales was INR 5,571.94 million compared to INR 5,119.06 million a year ago. Revenue was INR 5,596.41 million compared to INR 5,135.38 million a year ago. Net income was INR 301.86 million compared to INR 474.25 million a year ago. Basic earnings per share from continuing operations was INR 17.17 compared to INR 26.97 a year ago.
For the nine months, sales was INR 17,569.86 million compared to INR 15,551.12 million a year ago. Revenue was INR 17,691.12 million compared to INR 15,680.64 million a year ago. Net income was INR 1,405.75 million compared to INR 2,234.82 million a year ago. Basic earnings per share from continuing operations was INR 79.94 compared to INR 127.08 a year ago.
Styrenix Performance Materials Limited is an India-based company. The Company is a producer of Absolac (ABS). ABS is a plastic resin produced from Acrylonitrile, Butadiene & Styrene, used for manufacturing of home appliances, automobiles, consumer durables and business machines. The company is also a manufacturer of Polystyrene (PS) and ABSOLAN (SAN), which is a polymerized plastic resin produced from Styrene and Acrylonitrile, and mainly used for products, such as lightings, stationeries, novelties, refrigerators, and cosmetic packing. It is engaged in providing styrenic applications for various everyday products across a range of industries, including automotive, electronics, household, construction, healthcare, packaging, and toys/sports/leisure. Its products include Absolac ABS, Absolac High Heat ABS, Absolan SAN, GPPS, and HIPS. The Company operates its manufacturing facilities at Nandesari, Moxi, Katol and Dahej and research and development center at Moxi in Gujarat.