Press release from Business Wire India
Source: Astral Polytechnik Limited
Saturday, January 22, 2011 01:26 PM IST (07:56 AM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Stock exchanges
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Astral Poly Technik delivers Robust Topline & PAT Growth of 45 % and 34% respectively in Q-3
Ahmedabad, Gujarat, India, Saturday, January 22, 2011 -- (Business Wire India) -- Astral Poly Technik Ltd., leaders in manufacturing of CPVC pipes & fittings announced the financial results for the Quarter ended on 31st December , 2010.
Overview of Q3 FY 2010 v/s Q3 FY 2009
. Company's sales from operations has increased by 45%, to Rs.98.49 Crore for the FY 2010 (Q-3) as against Rs. 67.81 Crore in FY 2009 (Q-3).
. PBT has increased by 32% to Rs. 9.94 Crore for FY 2010 (Q-3) as against Rs. 7.55 Crore in FY 2009 (Q-3).
. Cash Profit has increased by 32% to Rs. 11.14 Crore for FY 2010 (Q-3) as against Rs. 8.47 Crore in FY 2009 (Q-3).
. Profit After Tax (PAT) has increased by 34% to Rs. 8.38 Crore for FY 2010 (Q-3) as against Rs. 6.27 Crore in FY 2009 (Q-3).
. The Company has delivered an Earning Per Share (EPS) of Rs. 3.73 for the current quarter (On Rs.5 Paid up Shares).
As usual, the company has been able to maintain its growth momentum and delivered a topline growth of 45% during the quarter. However, the EBITA margin has dropped compared to Q-2 quarter which was mainly because of reduction of PVC-Resin price during the last quarter. The drop in PVC price during the last quarter was appx. 7% to 8%. During the quarter other income has increased substantially mainly because of writing back of provision of earlier year and income on investments. However, on a consolidated basis the overall profitability has increased by 34% from Rs. 6.27 Crores to 8.38 Crores. Since long, the company has been able to maintain its 40% + CAGR growth and during the current quarter also company has been able to maintain 45% topline growth. The last Quarter is always bullish in our industry and we are quite confident that company will do better (Q-4).
The new products launched by company such as SWR/ FOAMCORE/ MANHOLE etc are getting very good response in the market besides the existing products.
During the quarter, the company has utilized its capacity to the tune of 6,856 MT, Further the capacity utilization during the first nine months of the last year was 13,160 MT against that current year first nine months is 18,328 MT which shows a growth of 39%. During the last quarter company has utilized its capacity to the tune of 89% (Total Capacity as on closing of Q-3 was 30,867 MT). However, the company has already increased its capacity to the tune of 4,500 MT in the month of January and few machines are in pipeline which will be installed in the month of February to make the total capacity Appx. 45,000 MT.
During the quarter rupee was comparatively stable and moving on an average between Rs. 44.40 to Rs. 45.40 hence the company was able to gain Rs. 0.36 Crores in foreign exchange. However on Liabilities paid during the quarter company has incurred a loss of Rs. 0.90 Crores and on unpaid liabilities company has gained Rs. 1.26 Crores. Hence the net effect is Rs. 0.36 Crores during the quarter.
Our Kenya joint venture company will start production from January.
To view the Quarterly results, please click on the link given below:
Quarterly financial results
http://www.astralcpvc.com/LinkFile/Results%20311210.pdf
CONTACT DETAILS
Mr. Hiranand Savlani, Chief Financial Officer, Astral Poly Technik Ltd, +91 (79) 30112100, hiranand@astralcpvc.com
KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, STOCK EXCHANGES
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