20 Microns posted a strong set of first-quarter earnings on Wednesday.

India's largest producer of industrial Minerals & specialty chemicals reported a 107 percent surge in quarterly profit while sales were up 11 percent. Atil Parikh, managing director of 20 Microns spoke to CNBC-TV18 about the results and outlook..

“It has been definitely a good year now and the results have been very positive and we definitely look ahead in the year with the same numbers or in double-digit growth that we see in the topline and definitely in the bottomline we see the EBITDA margins increased by 50-100 basis points (bps) and the profit after tax (PAT) also being in the same region that you are seeing in Q1 results,” said Parikh.

“20 Microns now is going on with SME initial public offering (IPO) for its subsidiary where it will be focusing more on the value added minerals and specialty chemicals that it is currently doing which we have already filed the DRHP with the SME exchange and we should come out with the IPO anytime in the next few weeks” he added.

“We will be going with about 11-15 percent growth in this year,” said Parikh.

Speaking about specialty chemical business, he further mentioned that, “We are currently trying to reclassify all the products in our portfolio and we are more focused now on the specialty chemicals business and that is the reason we are trying to create a new subsidiary and going out for an IPO for putting up a new plant in Baroda.”