BWI: Astral Poly Technik Once Again Delivers Robust Topline and PAT Growth of 28% and 101% Respectively in Q-3

Source : Astral Polytechnik Limited Wednesday, February 5, 2014 6:03PM IST (12:33PM GMT)   Astral Poly Technik Once Again Delivers Robust Topline and PAT Growth of 28% and 101% Respectively in Q-3   Ahmedabad, Gujarat, India Astral Poly Technik Ltd., leaders in manufacturing of CPVC pipes & fittings announced the financial results for the Quarter ended on 31st December, 2013.   Overview of Q3 FY 2013-14 v/s Q3 FY 2012-13   Company’s sales from operations increased by 28%, to Rs.2,649.58 Mn for the FY 2013-14 (Q-3) as against Rs. 2,064.27 Mn in FY 2012-13 (Q-3). EBITA has increased by 101% to Rs. 394.40 Mn for FY 2013-14 (Q-3) as against Rs. 196.37 Mn in FY 2012-13 (Q-3). PBT has increased by 71% to Rs. 240.46 Mn for FY 2013-14 (Q-3) as against Rs. 140.47 Mn in FY 2012-13 (Q-3). Cash Profit has increased by 77% to Rs. 267.82 Mn for FY 2013-14 (Q-3) as against Rs. 151.28 Mn in FY 2012-13 (Q-3). Profit After Tax (PAT) has increased by 101% to Rs. 213.23 Mn for FY 2013-14(Q-3) as against Rs. 106.07 Mn in FY 2012-13 (Q-3).   The Company has delivered an Earning per Share (EPS) of Rs. 3.79 for the current quarter (On Rs.2 Paid up Shares).   During the quarter the Company is able to maintain its top line growth of 28% in sales and higher growth of 101% in EBITA in spite of slowdown in the market.   Due to high Fluctuation in Currency during  Q-2 company had incurred the losses by way of MTM on its outstanding foreign currency loan which was unpaid out of which company has paid some of loans during Q-3 has resulted in forex loss of Rs. 83.06 Mn during the quarter, which is reflected as Exceptional Items in results.   During the quarter under review company was able to utilize its capacity to the tune of 15,493 M.T. as against the last year Q-3 12,491 M.T. indicating a volume growth of 24%.   Company’s Hosur Plant is yet to commence its Commercial Production as company has received the electricity connection recently and waiting for some regulatory approval which will be completed by third week of Feb hence by Feb End company will start its commercial production.   During the quarter Advanced Adhesive (Subsidiary of Astral which Manufacture Solvant/Adhesive) has done a Sale of Rs. 72.35 Mn. Compare to Rs.24.57 Mn. in Q-3 last Year. On Nine Months basis total Sales of Rs.169.60 Mn against last year Nine months Rs. 62.87 Mn., which shows a growth of 170%.   To view the Quarterly results, please click on the link given below: Quarterly financial results  http://www.astralcpvc.com/investorrelation.aspx   Media Contact Details Mr. Hiranand Savlani, Chief Financial Officer Astral Poly Technik Ltd., ,+91(79)66212000 , hiranand@astralcpvc.com   KEYWORDS: Business/ Finance:Banking & Financial services, Business Services, Chemicals & Plastics, Financial Analyst & Investors, Major diversified industrial groups;General:People   If you wish to change your Business Wire India selection please visit on Business Wire India and use your personal username and password to login.   Submit your press release at http://www.businesswireindia.com

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