BWI: Astral Poly Technik Posts Robust 42% Top Line Growth in Q-2 and Declared 10% Interim Dividend

Press release from Business Wire India
Source: Astral Polytechnik Limited
Tuesday, October 13, 2009 06:58 PM IST (01:28 PM GMT)
Editors: General: Consumer interest, Economy; Business: Banking & financial services, Chemicals, Construction, Financial Analyst, Heavy industries, Household & personal care products & services, Retailers, Stock exchanges
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Astral Poly Technik Posts Robust 42% Top Line Growth in Q-2 and Declared 10% Interim Dividend


Ahmedabad, Gujarat, India, Tuesday, October 13, 2009 -- (Business Wire India) -- Astral Poly Technik Ltd. Leaders in manufacturing of CPVC pipes & fitting announced their financial results for the Quarter ended on 30th September, 2009.

Overview of Q2 FY2010 v/s Q2 FY2009

-- Company's sales from operations has increased by 41.51%, to Rs.68.12 Crore for the FY 2010 (Q-2) as against Rs.48.13 Crore in FY 2009 (Q-2). Sequential Sales has also increased by 31.58% from Rs. 51.77 Crores in Q-1 to Rs. 68.12 Crore in Q-2.

-- PBT has increased by 43.42% to Rs. 7.09 Crore for FY 2010 (Q-2) as against Rs. 4.94 Crore in FY 2009 (Q-2).

-- Cash Profit has increased by 33.33% to Rs. 7.72 Crore for FY 2010 (Q-2) as against Rs. 5.79 Crore in FY 2009 (Q-2).

-- Profit After Tax (PAT) has increased by 29.56% to Rs. 5.63 Crore for FY 2010 (Q-2) as against Rs. 4.34 Crore in FY 2009 (Q-2).

-- The Company has delivered an Earning Per Share (EPS) of Rs. 5.01 for the current quarter.

Though the market is full of challenges the company has overcome all that and delivered a robust growth of 42% and now the seasonal quarters of the company will start and all the new products range will be in full swing hence company foresee a very good quarters coming forward.

Not only that the USD is continuously becoming weak and rupees is appreciating which will help in improving the Raw Material Cost of the company and will increase EBITA in coming Quarter.

Further as per the policy of the company the profit on foreign currency loan will be accounted at the year end hence company has not accounted the unrealized profit on forex loan in the published figures.

Company is receiving a very good response for its new product from the market which will add further turnover in the coming quarter and better utilization of the enhanced capacity which company had raised last year end from 11800 MT to 25968 MT.

Looking to the better prospectus in Kenya company has increased its stake in ASTRAL TECHNOLOGIES LTD from present 26% to 31.90% .

Since company has earned Rs.14.13 Crore cash profit in First Half of the current financial year the board has decided to give an Interim Dividend of 10% to the Shareholders.

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

http://www.astralcpvc.com/LinkFile/Results%20300909.pdf



CONTACT DETAILS
Mr. Hiranand Savlani, Chief Financial Officer, Astral Polytechnik Limited, +91-079-30112100, hiranand@astralcpvc.com

KEYWORDS
CONSUMER, ECONOMY, BANKING, CHEMICALS, CONSTRUCTION, Financial Analyst, HEAVY INDUSTRIES, HOUSEHOLD, RETAIL, STOCK EXCHANGES, ASTRAL.NS, ASTRAL.BO

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