Plastiblends India Ltd (BSE code: 523648, NSE: PLASTIBLEN), India’s premier Masterbatch Manufacturing Company, announced its Financial Results for the fourth quarter and financial year ended 31st March, 2023.
|Q4 FY23||Q3 FY23||% Q-o-Q||Q4 FY22||FY23||FY22|
|Revenue from Operations||19,796.96||18,602.10||6.42%||21,883.92||76,851.52||71,763.29|
|EBITDA Margin %||8.33%||5.23%||310 bps||9.25%||7.16%||9.50%|
|PBT Margin||6.13%||2.54%||359 bps||7.07%||4.75%||6.82%|
|PAT Margin %||4.39%||2.14%||225 bps||5.66%||3.49%||5.11%|
Highest ever revenue from operations of Rs 76,852 lakhs in the history of the Company.
The Board of Directors has recommended dividend of Rs. 4 per share i.e. @ 80 %. (previous year Rs. 4 per share i.e. @ 80 %)
With returning of stability and sanity in highly fluctuating raw material prices, focuson cost optimisation and operational efficiencies, PBT margin in Q4 has increased by 359 bps as compared to sequential quarter Q3.
Post COVID global economic downturn has made economic environment very challenging. There was intense competition and pricing pressure from established and new players and Company had strategically decided to absorb input price rise during the year.
The demand has been adversely impacted by geopolitical crisis, supply chain reorientation, global inflation and tight monetary regulation and the global
Due to financial discipline and effective working capital management,
As of 31st Mar 23, there is no bank borrowings (Rs. 3356 lakhs as of 31st Mar 22) .
As of 31st Mar 23, there is current investment of Rs 2716 lakhs mainly inliquid mutual fund.
In FY 22-23, Rs. 813 lakhs is capital expenditure on account of land & building, plant and equipment.
Engineering Plastics Compounds
Since last year Company ventured into Engineering Plastics Compounds andhave developed various grades for various applications in automobile, electrical
& electronics etc. Approvals from several OEM and tier-1 manufacturers have been received and many are under process. The performance till now promises bright future ahead.
Engineering Plastic division witnessed robust growth of 527 % in FY 22-23 and growth momentum is expected to remain strong in time to come. Since inception i.e. almost more than 3 decades Company is enjoying status of brand leader and market leader and by foraying into Engineering plastics division it will further gain market share.
Considering the strong positive response which Company is receiving in Engineering Plastics Compounds, we are contemplating expansion in near future.
Commenting on the performance, Shri S. N. Kabra, Chairman & Managing Director said, “We have achieved highest ever revenue from operations in history of company which is a milestone.
We are pleased to inform you that company has recently made a strategic investment in acquiring adjoining land & building at Daman. Since the present capacity at Daman is utilised to maximum extent, this purchase in adjoining area will enable us to expand our operations in near future.
Infrastructure revolution along with government schemes like Har Ghar Jal (Jal Jeevan Mission), Atmanibhar Bharat, will be helpful in boosting the growth momentum in future.
We would continue to generate strong cash flow which will enable us to explore the opportunities and create value for shareholders.”
About Plastiblends India Limited
Plastiblends India Limited is into manufacturing of Masterbatches.
Masterbatches find applications in various plastic processing industries such as Flexible Packaging (FMCG, Package and Fast Food, Shopping Bags, etc.), Consumer Durable (Electronic Appliances, Furniture, Toys, Luggage, House ware etc.) Health Care, Agriculture, Irrigation, Piping, Textiles, Telecom, Infrastructure etc.
Plastiblends has wide range of Masterbatches like White/Black/Colour/Additive/Filler. Plastiblends is the Largest Player in Masterbatch Segment enjoying the market/brand leader status since inception.
Plastiblends has world class manufacturing facilities at-Daman (UT), Roorkee (Uttarkhand), Palsana (Surat - Gujarat).
For more log on to www.plastiblends.com