WATCH | Managing Director SN Kabra on Plastiblends' Q3 results
Plastiblends India Ltd.'s profit doubled in the quarter ended December on the back of a higher-value product mix and lower debt.
Net profit of the plastic producer jumped to Rs 11.4 crore in the third quarter from 5.7 crore in the year-ago period, according to its stock exchange filing.
“The main thing has been the product mix change that we've been using to go to the higher-value products,” SN Kabra, the company's managing director, told BloombergQuint in an interview. Realisation of almost Rs 3.84 crore of unpaid dues from the government have helped the company's earnings, he said. “Our borrowings have come down in the last two years. We are almost debt-free.”
Plastiblends, which is India's largest manufacturer and exporter of colour and additive master batches and thermoplastic compounds, expects its Ebitda margin at 11.5 percent going ahead, Kabra said.
Plastiblends Q3 Results 2019-20: Key Highlights (YoY)
- Revenue down 4.4 percent to Rs 144.7 crore
- Net profit up two times to Rs 11.4 crore
- Ebitda up 66.1 percent to Rs 21.1 crore
- Margin expands to 14.6 percent from 8.4 percent
On Thursday, Plastiblends India shares fell 0.95 percent to Rs 208.00 apiece on the NSE while the benchmark Nifty 50 gained 0.09 percent to end the day at 12,356.25 points.
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