While the pandemic marred the current financial year, Vinati Organics Ltd. expects its revenue to grow 15-20% per annum from FY22.
The growth trajectory is in line with industry expectations, Managing Director and Chief Executive Officer Vinati Saraf Mutreja told BloombergQuint in an interview. As the national lockdown froze economic activities and workers migrated to villages, India’s specialty makers, too, faced logistics and labour issues. While that has dissipated, Mutreja said the demand slowdown from the pandemic still lingers. That, she expects, to hurt earnings in the second and third quarters of the fiscal ending March 2021.
The drop in demand, according to her, has been mainly due to the oil and gas sector. The company’s three other areas of business—agrochemicals, pharmaceuticals and water treatment—remain stable.
The long-term outlook for the specialty chemical…