Astral Poly Technik Ltd., a maker of plastic pipes, expects its revenue for the year ending 31 March 2020 to grow by at least 15 percent aided by the government's spending on infrastructure.
“Based on the exit poll projections (for the Lok Sabha elections), it (revenue growth) could be higher,” Hiranand Savlani, the company's chief financial officer, told BloombergQuint in an interview. “The government is definitely going to spend a sizeable amount on infrastructure to achieve 7-8 percent GDP growth.”
Savlani also said that products launches, like industrial chemicals in the adhesives segment, will contribute to the company's growth in the coming financial year. Astral Poly Technik reported its March quarter earnings on Monday.
Key Highlights (YoY):
- Revenue rose 21.3 percent to Rs 774.7 crore.
- Net profit down 4.2 percent to Rs 62.2 crore.
- Ebitda up 6.1 percent to Rs 120.3 crore.
- Margin at 15.5 percent versus 17.8 percent.
Shares of Astral Poly Technik fell as much as 6.8 percent in today's trade compared with a 0.14 percent gain in the Nifty as of 11 a.m.
Watch the full interview here:
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