Monday, November 2022, Mumbai – Savita Oil Technologies Limited, a leading manufacturer of specialty petroleum products, announced its unaudited financial results for the quarter and half year that ended September 30, 2022.
• EBITDA per KL/MT at Rs. 9,904 for Q2 FY23 and at Rs. 11,768 for H1FY23
• Savita Greentec Limited (“SGL”), a wholly owned subsidiary of Savita Oil Technologies Limited, was incorporated on 3rd October 2022. SGL is yet to commence its business operations.
Commenting on the performance Mr. Gautam N. Mehra, Chairman and MD, said, “We are delighted to report a strong performance for another quarter with a total income of Rs. 876 crores, a growth of 21% on YoY basis. Despite volatile oil prices and rupee depreciation, growth momentum in the business has been robust over the last few quarters backed by healthy volume and better product mix.
With multi-decade relationships with many of our OEM and B2B customers across all product lines, we have not only up-scaled our product offerings based on dynamic market trends, we continue to get new product requirements from them.
In-house technology and R&D is the backbone of our company and has manifested many high-quality products across the product portfolio. New products developed in-house are being prepared to be launched in the next financial year. We are investing Rs. 50 crores for setting up manufacturing facilities for new products and capacity expansion.”