Styrenix Performance Materials Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 03, 2024 at 04:09 am EST
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Styrenix Performance Materials Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 4,846.8 million compared to INR 5,571.9 million a year ago. Revenue was INR 4,864 million compared to INR 5,596.4 million a year ago. Net income was INR 349.4 million compared to INR 302 million a year ago. Basic earnings per share from continuing operations was INR 19.87 compared to INR 17.18 a year ago. Diluted earnings per share from continuing operations was INR 19.87 compared to INR 17.18 a year ago.
For the nine months, sales was INR 16,234.6 million compared to INR 17,569.9 million a year ago. Revenue was INR 16,303.2 million compared to INR 17,691.2 million a year ago. Net income was INR 1,238.1 million compared to INR 1,405.8 million a year ago. Basic earnings per share from continuing operations was INR 70.4 compared to INR 79.95 a year ago. Diluted earnings per share from continuing operations was INR 70.4 compared to INR 79.95 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.