Stylam Industries Limited revenue from operations was Rs 130.84 crore during Q1 FY 2021-22 with an increase by 90% from Rs 70.31 crore during the quarter ended to the same period last year. The net profit was Rs 13.89 crore this year Q1 increasing by 150% to the corresponding period last year from Rs 5.6 crore. The company’s total expenses also increased to Rs 112.07 crore this quarter increasing by 95% from Rs 62.86 crore last year.
The company feels that the outbreak of the second wave of unprecedented COVID-19 pandemic has slowed economic activity globally. Demand in the domestic market during the quarter ended June 2021 was sluggish due to lockdown imposed by various states. The production during the quarter continued at normal capacity levels, however, the domestic dispatches were disturbed.
Resulting into building up of additional Inventories, the Company anticipates bounce-back in products demand on restoration of normalcy due to aggressive vaccination programme along with other initiatives undertaken by the government. The Company will endeavour to achieve maximum capacity utilization levels for the year.