Astral Poly Technik delivers a top-line growth of 17% for the financial Year 2014-2015
Ahmedabad, Gujarat – 28th May, 2015 – Astral Poly Technik Limited, pioneer & leaders in manufacturing of CPVC pipes & fittings announced the financial results for the year ended on 31st March, 2015.
Overview of Standalone Results for FY 2014-15 v/s FY 2013-14
- Company’s sales from operations increased by 17% to Rs. 12,521.08 Mn against Rs. 10,727.99 Mn in the previous year.
- EBITA has decreased to Rs. 1,505.13 Mn as against Rs. 1,557.48 Mn in the previous year.
- PBT has decreased to Rs. 966.08 Mn as against Rs. 1,013.77 Mn in the previous year.
- PAT has decreased to Rs. 688.45 Mn as against Rs. 772.05 Mn in the previous year.
- Cash Profit increased to Rs. 1,018.59 Mn as against Rs. 985.34 Mn in the previous year.
- The Company has reported an Earning per Share (EPS) of Rs. 1.40 for the current quarter (On Re.1/- Paid up Shares). (On a full year basis company has delivered an EPS of Rs.6.03)
- The Company has recommended Final Dividend of Re. 0.225 (22.5%) per equity share of Re. 1/- each in addition to an Interim Dividend of Re. 0.15 (15.00%) per equity share.
Overview of Consolidated Results for FY 2014-15 v/s FY 2013-14
- Company’s sales from operations increased by 32% to Rs. 14,293.77 Mn against Rs. 10,796.39 Mn in the previous year.
- EBITA has increased to Rs. 1,682.94 Mn as against Rs. 1,601.44 Mn in the previous year.
- PBT has increased to Rs. 1,095.18 Mn as against Rs. 1,045.34 Mn in the previous year.
- PAT has decreased to Rs. 758.94 Mn as against Rs. 789.15 Mn in the previous year.
- Cash Profit increased to Rs. 1,123.13 Mn as against Rs. 1,008.25 Mn in the previous year.
Looking to the current situation of the Economy and particularly of Construction Industry the company was able to maintain its growth momentum and has grown sales by 17%. The crude has collapsed from US$ 110 to US$ 40 and due to that the Polymer price fall substantially which resulted in the drop of Sales & EBITA Margins. However in spite of all odds company has performed very well within the Industry.
Current Year also CPVC Ratio was 55% and the PVC was 45%. Which shows that company has maintain its focus on CPVC business.
The reason for drop in EBIDTA was mainly due to Inventory Loss on account of drop in polymer prices and Extra Spending on Branding Activity due to Engagement to Mr. Salman Khan as our Brand Ambassador.
During the year under review company has increased its production capacity to 102,371 M.T. from 97,164 M.T..
During the year company has utilized its capacity to the tune of 69,925 M.T. as against the last year’s 60,400 M.T. which shows a growth of 16% in volume. During the last quarter which was the peak quarter for the company, it has utilized capacity to the tune of 20,235 M.T. compare to last year similar quarter 17,962 MT which shows a growth of 13% in volumes. However the Full Year Sales Volume was 72,848 M.T. higher than the Production Volume of 69,925 MT because of Drop in the Inventory Level of Finished Goods.
During the year company has booked Foreign Exchange loss of Rs. 92.85 Mn on account of depreciation of rupee {During the Year Rupee Depreciated from Rs.59.89 to Rs. 62.5 (4.36%) } which includes Rs. 48.66 Mn towards unrealized loss (MTM) on outstanding foreign currency liabilities.
During the year company has provided an additional depreciation of Rs. 68.24 Mn due to change in the Companies Act from SLM method to Useful life of the assets.
Performance of Subsidiaries (Adhesives) :
(Rs. In Mn.)
|
Particulars |
RESINOVA |
SEAL IT* |
ADVANCED ADHESIVES |
TOTAL |
||||
|
FY 15 |
FY 14 |
FY 15 |
FY 14 |
FY 15 |
FY 14 |
FY 15 |
FY 14 |
|
|
SALES |
2,028.8 |
1,724.7 |
1,501.3 |
1,328.6 |
316.9 |
229.9 |
3,847.0 |
3,283.2 |
|
SALES GROWTH % |
17.63% |
13.00% |
37.84% |
17.17% |
||||
|
EBDITA |
165.5 |
127.1 |
110.4 |
78.7 |
73.6 |
41.5 |
349.5 |
247.3 |
|
EBDITA % |
8.16% |
7.36% |
7.35% |
5.92% |
23.22% |
18.05% |
9.08% |
7.53% |
|
PBT |
138.1 |
111.7 |
75.5 |
59.3 |
70.2 |
40.0 |
283.8 |
211.0 |
|
PAT |
92.9 |
74.5 |
65.5 |
45.8 |
48.5 |
25.5 |
206.9 |
145.8 |
|
CASH PROFIT |
107.1 |
83.4 |
92.4 |
61.2 |
51.9 |
27.0 |
251.4 |
171.6 |
|
ROACE |
38.16 |
37.34 |
26.35 |
28.31 |
128.93 |
160.90 |
39.73 |
39.21 |
|
ROANW |
23.79 |
24.18 |
32.62 |
29.54 |
66.89 |
71.96 |
31.17 |
29.25 |
|
Stake % |
76% |
— |
80% |
— |
85% |
85% |
|
|
* Conversion Rate 1 GBP = 100 INR.
From the above you can see that All the subsidiaries have performed well , not only sales has grown by 17% but across all the three companies has expanded the Margins also. Overall EBDITA Margin has increased from 7.53% to 9.08%.
Kenya Pipe a JV Company where the company has 37.5% stake has grown its sales from Rs.120.98 Mn to Rs.202.36 Mn a growth of 67%.
Company has completed construction of its state of art plant at Dholka with additional Capacity of 40,000 M.T. and Machines will be installed from August Onward.
To view the Audited results, please click on the link given below:
Audited financial results: http://astralpipes.com/investorrelation.aspx
Media Contact
Company Name: Astral Poly Technik Limited
Contact Person: Mr. Hiranand Savlani – CFO
Email: hiranand@astralcpvc.com
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: ABNewswire
ReleaseID: 29249
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