BWI: Astral Polytechnik Reports Rs. 20.37 Crore Cash Profit for FY 09

Press release from Business Wire India
Source: Astral Polytechnik Limited
Thursday, May 28, 2009 06:30 PM IST (01:00 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Business services, Construction, Household & personal care products & services, Retailers, Stock exchanges; Technology
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Astral Polytechnik Reports Rs. 20.37 Crore Cash Profit for FY 09


Ahmedabad, Gujarat, India, Thursday, May 28, 2009 -- (Business Wire India) -- Astral Polytechnik Ltd. manufacturer of CPVC pipes & fitting announced their financial results for the year ended March, 2009.

Overview of FY2009 v/s FY2008

- Company's sales from operations has increased by 42% to Rs.193.00 Crores for the FY 2009 as against Rs.135.82 Crores in FY 2008.

- EBDITA has increased to Rs. 27.74 Crores for FY 2009 as against Rs. 25.37 Crores in FY 2008.

- Cash Profit has increased to Rs. 20.37 Crores for FY 2009 as against Rs. 20.33 Crores in FY 2008.

- Profit After Tax (PAT) decreased to Rs. 14.19 Crores for FY 2009 as against Rs. 17.07 Crores in FY 2008 mainly due to effect of foreign exchange fluctuation.

- The Company has delivered an Earning Per Share (EPS) of Rs. 12.63 for the F.Y. 2008-2009.

- The Board has also recommended dividend of 10%.

The year 2008-09, was the worst year for the Construction/Infrastructure Industry world wide and in India also. Inspite of this, ASTRAL was able to deliver a growth of 42% in Topline and maintained its Cash Profit .

Throughout 2008-09 Rupee was continuously depreciating from Rs.40 level to Rs.52 level against the USD which has resulted in reduction of net profitability of company because company had taken Foreign Currency Loan and was mainly dependent on import of CPVC resin.

However Company has continuously maintained its leadership position in CPVC /PVC (Lead Free) pipes and fittings in India and now has launched commercially its new product range of SWR Pipes& Fittings, ABS pipes & fittings, Foam Core pipes and is shortly planning to launch Blaze Master (Fires Sprinkler & Pipes) in Indian Market.

The new plant of company with increased capacity from 11800 MT to 25968 MT is ready at both the locations at Gujarat and Himachal Pradesh and will help company to reduce its cost and avail the benefit of economy of scale and will take care of its new product range.

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

Quarterly Annual financial results


CONTACT DETAILS
Mr. Hiranand Savlani, Chief Financial Officer, Astral Polytechnik Ltd., +91 (79) 30112100, hiranand@astralcpvc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, BUSINESS SERVICES, CONSTRUCTION, HOUSEHOLD, RETAIL, STOCK EXCHANGES, TECHNOLOGY

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