Savita Oil Technologies Limited Q1 FY23 consolidated results

Savita Oil Technologies | CMP: Rs 1,093.10 | The stock rose over 8 percent after the board of directors of Savita Oil Technologies at its meeting held today has approved the sub-division of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each.

Highest ever quarterly PAT of Rs. 91 crore, Savita Oil Technologies Limited, a leading manufacturer of specialty petroleum products, announced its unaudited Financial Results for the quarter ended June 30, 2022.

Commenting on the performance, Mr. Gautam N. Mehra, Chairman and MD, SAVITA Oil Technologies Limited said, I am happy to report that we have started FY23 on a very strong note as we recorded our highest ever quarterly performance.

Our total income surged by 41 percent on YOY basis to Rs. 906 Cr., with a healthy EBIDTA margin of 15 percent. The growth in total income was driven by a combination of volume as well as price uptick across both Petroleum Specialty Oils as well as Lubricating Oils.

This healthy performance reflects robust demand for our quality products backed by strong R&D capabilities as well as our solid operational capabilities, a strong balance sheet with NIL borrowings and healthy liquidity position.”

SAVITA has developed and manufactured a broad array of products including Transformer Oils, Liquid Paraffins, White Oils, Automotive and Industrial Lubricants, Coolants and Greases, among others.

Headquartered in Mumbai, the Company has world-class manufacturing facilities situated in the state of Maharashtra and at Silvassa in the Union Territory of Dadra and Nagar Haveli and Daman & Diu. Established in 1961,

SAVITA serves varied industries such as Power Generation and Distribution, Automotive, Thermoplastic Rubbers, FMCG, Plastics, Pharmaceutical, Agriculture, Refrigeration, Polymers, among others. In addition to catering to a sizeable B2B clientele, our popular range of lubricants, greases, and coolants are sold to retail customers under the brand SAVSOL.

Its consistent investments in green energy production have made it Asia’s only petroleum specialty company which is carbon positive. Its Environmental Management System is IS0 14001:2015 certified.

Besides, the windmills are located at 18 sites in the states of Maharashtra, Tamil Nadu, and Karnataka with an installed capacity to produce 54.15 MW of wind-powered electricity. Its consistent investments in green energy production have made it Asia’s only petroleum specialty company which is carbon positive.

Its Environmental Management System is IS0 14001:2015 certified. Besides, the windmills are located at 18 sites in the states of Maharashtra, Tamil Nadu, and Karnataka with an installed capacity to produce 54.15 MW of wind-powered electricity.

Safe Harbour StatementStatements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances.

Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.