BWI: Astral Poly Technik Post a Robust 343% Growth in PAT and 52% Growth in Top Line for Q-3

Press release from Business Wire India
Source: Astral Polytechnik Limited
Tuesday, January 19, 2010 09:12 PM IST (03:42 PM GMT)
Editors: General: Consumer interest, Economy; Business: Advertising, PR & marketing, Banking & financial services, Business services, Commodities & materials, Construction, Financial Analyst, Heavy industries, Major diversified industrial groups, Real estate, Stock exchanges
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Astral Poly Technik Post a Robust 343% Growth in PAT and 52% Growth in Top Line for Q-3


Ahmedabad, Gujarat, India, Tuesday, January 19, 2010 -- (Business Wire India) -- Astral Poly Technik Ltd. Leaders in manufacturing of CPVC pipes & fitting announced their financial results for the Quarter ended on 31th December, 2009.

Overview of Q3 FY2010 v/s Q3 FY2009

. Company's sales from operations has increased by 51.77%, to Rs.67.81 Crore for the FY 2010 (Q-3) as against Rs.44.68 Crore in FY 2009 (Q-3).
. PBT has increased by 362.53% to Rs. 7.55 Crore for FY 2010 (Q-3) as against Rs. 1.63 Crore in FY 2009 (Q-3).
. Cash Profit has increased by 168.89% to Rs. 8.47 Crore for FY 2010 (Q-3) as against Rs. 3.15 Crore in FY 2009 (Q-3).
. Profit After Tax (PAT) has increased by 343.32% to Rs. 6.27 Crore for FY 2010 (Q-3) as against Rs. 1.41 Crore in FY 2009 (Q-3).
. EBITA has increased by 61.65% to Rs. 11.22 Crore FY 2010 (Q-3) as against Rs. 6.94 Crore in FY 2009 (Q-3).
. The Company has delivered an Earning Per Share (EPS) of Rs. 5.58 for the current quarter.

During the quarter company is able to increase the presence of its new products range into the various part of the country and due to that company is able to utilize its capacity more during the quarter.

Since the last quarter i.e. January to March is pick in the industry company will be in a position to utilize its capacity fully and is also planning to increase the capacity from its present level of 25968 MT p.a.

Though the real estate market has its own challenges since more than one year company is able to successfully over come that challenges and continue to deliver the growth of 40% on year on year basis on (9 month basis). However growth in current quarter was 52% v/s same quarter last year.

Besides above rupees is slowly appreciating on quarter on quarter basis which will help the company to improve its EBITA margin. As the company is importing CPVC material from oversea.

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. However to give the more transparency in the results Auditors has suggested to quantify the figures and accordingly we have quantified by way of note to our published results and the amount is positive to the tune of Rs. 134.05 Lacs.

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

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

Quarterly financial results

http://www.astralcpvc.com/LinkFile/Results%20311209.pdf


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

KEYWORDS
CONSUMER, ECONOMY, MARKETING, BANKING, BUSINESS SERVICES, COMMODITIES, CONSTRUCTION, Financial Analyst, HEAVY INDUSTRIES, GROUPS, REAL ESTATE, STOCK EXCHANGES, ASTRAL.NS, ASTRAL.BO

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