Lanxess India reports spectacular growth in Q3

Lanxess India, a Germany-headquartered specialty chemicals company reported a spectacular growth from its India operations in Q311 due to ongoing strong demand especially for its synthetic rubbers and hi-tech plastics.

The company which specializes in specialty, basic and fine chemicals, rubber and plastics said that it has achieved sales of around EUR 65 million in the third quarter, registering a growth of around 52% year-on-year (y-o-y).

The company's global sales increased by 26% y-o-y to EUR 2.3 billion.

It's EBITDA pre exceptional rose 27% y-o-y to EUR 311 million during the third quarter.

The company also said that its full-year outlook for EBITDA pre exceptionals to grow 20% y-o-y to more than EUR 1 billion-mark, which is the first time in the company’s history.

Mr. Venkatesh Sankaran, Executive Director and Chief Financial officer, LANXESS India Private Limited said, “Overall, this was our best quarter by far. The performance polymers segment clocked a growth rate of about 155% in India, which is the highest amongst the three business segments. In this segment, the poly butadiene rubber business unit emerged the strongest.”

The applications of high performance rubbers from LANXESS are increasingly finding acceptance in the Indian market, the company mentioned in press release.

GoodReturns.in