Indian lubricants blender Maximus International Ltd. said it had weathered supply chain disruption, competitiveness in pricing and low demand in the market – among other challenges – to post strong growth in net profit and revenue for the fiscal year and quarter ended March 31. The company also remains bullish on further expansion in Africa.
Dealing with those factors during the fiscal year turned into opportunities that led to efficient management of supply chain and deeper customer and distributor engagement, the company said.
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The company expressed confidence about opportunities in Africa. “The company now plans to consolidate its operations and foray into new markets in both Asia and Africa,” Maximus Chief Financial Officer Milind Joshi said in the company’s earnings press release. “The company is confident that it can sustain the continuous growth that it has been maintaining for the last five years by expanding its footprint in the African continent.”