BWI: Astral Poly Technik delivers Robust Topline of 63% in Q-3

Press release from Business Wire India
Source: Astral Polytechnik Limited
Tuesday, February 07, 2012 05:58 PM IST (12:28 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Financial Analyst, Real estate, Stock exchanges
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Astral Poly Technik delivers Robust Topline of 63% in Q-3


Ahmedabad, Gujarat, India, Tuesday, February 07, 2012 -- (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, 2011.

Overview of Q3 FY 2011-12 v/s Q3 FY 2010-11

-- Company's sales from operations increased by 63% to Rs.160.51 Crore for the FY 2011-12 (Q-3) as against Rs. 98.49 Crore in FY 2010-11 (Q-3).

-- EBITA has increased to Rs. 16.40 Crore for FY 2011-12 (Q-3) as against Rs. 14.45 Crore in FY 2010-11 (Q-3).
-- PBT has decreased to Rs. 5.93 Crore for FY 2011-12 (Q-3) as against Rs. 9.94 Crore in FY 2010-11 (Q-3).

-- Profit After Tax (PAT) has decreased to Rs. 4.74 Crore for FY 2011-12(Q-3) as against Rs. 8.38 Crore in FY 2010-11 (Q-3).

-- The Company has delivered an Earning per Share (EPS) of Rs. 2.11 for the current quarter (On Rs.5 Paid up Shares).

As usual, this quarter also company is able to maintain its topline growth of 63% but due to steep fluctuation in the foreign exchange in last two quarters the operating margins were under pressure . However on nine months basis company is able to registered a sales growth from Rs. 269.13 Crore to Rs. 396.48 Crore i.e. 47% and similarly in first nine months the EBITA has increased from Rs. 37.26 Crore to Rs. 45.23 Crore.

During the quarter Q-3 the unrealized loss is Rs. 3.61 Crore as against the last year Q-3 gain of Rs. 1.27 Crore on the outstanding ECB & FCNR loans. This was mainly because of sudden depreciation of rupee by more than 20% in last six months. As per the policy of company these effects will be given in the books of account at the year end only.

During Q-3 company was able to utilize its capacity to the tune of 9,729 M.T. as against the last year Q-3 6,857 M.T i.e. a rise of 42%. Current year first nine months cumulative utilization was 27,127 M.T. as against last year nine months 18,328 M.T. a rise of 48%.

During the quarter Company has successfully commissioned & started commercial production at its Dholka Manufacturing facility.

Company has also started commercial production of PVC solvent cement in its subsidiary company Advanced Adhesives Ltd.

To view the Quarterly results, please click on the link given below:
Quarterly financial results

http://www.astralcpvc.com/investorrelation.aspx


CONTACT DETAILS
Mr. Hiranand Savlani, Chief Financial Officer, Astral Polytechnik Limited, +91 (79) 66212000, hiranand@astralcpvc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, Financial Analyst, REAL ESTATE, STOCK EXCHANGES

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