Kohinoor Chemicals emerged as the standout among six chemical manufacturers, achieving a growth in profit during the nine months ending in March while the others experienced declining profits or losses. This success can be attributed to the popularity of Kohinoor’s brands, such as Sandalina and Ice Cool, particularly among the middle class and rural population. Despite challenges faced by all businesses, including higher raw material costs and energy price hikes, Kohinoor Chemicals saw a 16% increase in sales, reaching Tk 1.33 billion in the January-March quarter, while the demand for products from the other companies dwindled.
However, adverse factors affected the overall profitability of Kohinoor and other chemical manufacturers, including difficulties in opening letters of credit and rising raw material prices. Despite these challenges, Kohinoor Chemicals achieved a 3% growth in profit to Tk 102 million, thanks to higher sales and increased selling prices. In contrast, the listed companies, such as Salvo Chemicals and Global Heavy Chemicals, experienced sharp profit declines or doubled losses, primarily due to the impact of the Russia-Ukraine war, gas and power disruptions, and unhealthy competition from bonded warehouse facilities.
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