Chennai: Chemplast Sanmar Ltd, the flagship company of Sanmar Group has earmarked capital outlay of Rs 680 crore to be spent over the next 15 months towards capacity expansion, the company said on Sunday. The investments include kick starting of the next phase of expansion of its custom manufacturing multi-purpose facility, Chemplast Sanmar Ltd said.

Chemplast Sanmar Ltd reported a profit after tax for the quarter ending December 31, 2022 at Rs 27 crore as against Rs 237 crore registered in same quarter of last year. The profit after tax for the nine month period ending December 31, 2022 stood at Rs 106 crore as compared to Rs 417 crore recorded corresponding period of last year. Revenue from the operations during the quarter under review slipped to Rs 1,189 crore from Rs 1,452 crore registered in same period of last year. For the nine month period ending December 31, 2022, the revenue from operations dipped to Rs 3,794 crore from Rs 4,085 crore registered in same period of last financial year.

"Prices for both paste PVC and suspension PVC bottomed out during the quarter, after continuous fall from April 2022. Trend reversed from December 2022 onwards with multiple price increases for both suspension PVC and Paste PVC (Polyvinyl Chloride)," the company said.