Astral Poly Technik delivers 15% Volume & 14% Value Growth in Q-3

Ahmedabad, Gujarat – 28th January, 2015 – Astral Poly Technik Ltd., leaders in manufacturing of CPVC pipes & fittings announced the financial results for the Quarter/Nine Months ended on 31st December, 2014.

Overview of Q3 FY2014-15 v/s Q3 FY2013-14:

• Company’s sales from operations increased by 14% to Rs. 3,030.52 Mn as against Rs. 2,649.55 Mn in the same quarter previous year.

• EBITDA has decreased by 23% to Rs. 290.23 Mn as against Rs. 378.81 Mn in the same quarter previous year mainly because of inventory losses due to reduction in crude price (PVC price drops by 22%).

• Finance cost has increased from Rs. 22.27 Mn to Rs. 47.69 Mn because of interest paid (Rs.18.82 Mn) on one time temporary bridge loan taken for acquisition of Resinova Chemie Ltd. Which company has repaid from the proceeds of QIP. Otherwise it is in line with earlier quarter.

During the quarter under review the unrealized loss on account of foreign currency borrowings is Rs. 29.18 Mn as against the last year Q3 gain of Rs. 100.24 Mn. This is because of rupee depreciation during the Q-3.

During the quarter under review company was able to utilize its capacity to the tune of 17,809 M.T. as against the last year Q3FY14 15,493 M.T. which shows a volume growth of 15%.

During the Quarter, your Company has acquired 76% controlling stake in Kanpur, UP based Company Resinova Chemie Ltd, manufacturer of various type of Adhesives & Sealants, for Rs. 2,128 Mn. 

During the quarter under review the PVC prices dropped from Rs.74.50 to Rs. 58/- which shows a drop of 22% which resulted an inventory loss on Raw Material & Finished Goods of PVC. Similarly the Rupee depreciated on an average by 4% from Rs.61/- $ to Rs.63.50 $ which affected CPVC realization.

Overview of 9M FY 2014-15 v/s 9M FY 2013-14

• Company’s sales from operations increased by 19% to Rs. 8,769.45 Mn as against Rs. 7,358.41 Mn in the previous year nine months.

• EBITDA maintained to Rs. 1,044.51 Mn as against Rs. 1,045.79 Mn in the previous year nine months.

• PBT has increased by 9% to Rs. 660.80 Mn as against Rs. 604.46 Mn in the previous year nine months.

• Profit after Tax (PAT) has increased by 5.75% to Rs. 522.62 Mn as against Rs. 494.20 Mn in the previous year nine months.

During Nine months the unrealized loss on account of foreign currency borrowings is Rs. 83.99 Mn as against Rs. 83.28 Mn in the previous year first nine months.

During 9MFY15 company was able to utilize its capacity to the tune of 49,690 M.T. as against 42,438 M.T. in the previous year first Nine Months,which shows a volume growth of 17%.

Performance of subsidiaries/JV’s Co.: 

* 12 Months CY14. Astral Pipes Ltd, Kenya is a December year ending company.

Note: Financial Information relating to Seal It Services Ltd, Advanced Adhesives Ltd and Astral Pipes Ltd. are neither audited nor subjected to a limited review. They are as per the management accounts only. No investment decision should be made on the basis of such financial information.   

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

Quarterly financial results – http://www.astralcpvc.com/investorrelation.aspx

Media Contact
Company Name: Astral Poly Technik Limited
Contact Person: Mr. Hiranand Savlani – CFO
Email: Send Email
Phone: +91-079-66212000
Address:207/1, Astral House, B/h. Rajpath Club, Off. S. G. Highway
City: Ahmedabad
State: Gujarat
Country: India
Website: www.astralcpvc.com

Source: www.abnewswire.com