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Gulshan Polyols Ltd announces financial results for Q3FY21

Posted On: 2021-01-20 04:23:40 (Time Zone: Arizona, USA)


The Board of Gulshan Polyols Limited (GPL) met today to approve Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2020.

- Q3'FY21, Revenue from Operations stood at Rs 20,912.89 Lakhs vs. Rs 14,045.85 Lakhs inQ3'FY20, showing a remarkable growth of 49%, similarly, Net Profit at Rs. 1,860.48 Lakhs vs. Rs. 477.64 Lakhs in Q3'FY20, showing a growth of 290%.

- 9M'FY21 Revenue from Operations stood at Rs. 53,868.90 Lakhs vs. Rs. 48,577.54 Lakhs in 9M'FY20, showing a remarkable growth of 11% , similarly, Net Profit at Rs. 4,091.19 Lakhs vs. Rs. 1,780.21 Lakhs in 9M'FY20, which is 130%.

Q3'FY21 (YOY) Other Financial Highlights

- Reported EBITDA at Rs. 3,648.36 Lakhs as compared with Rs. 1,611.59 Lakhs in Q3'FY20, grown by 126.38%.
- EBITDA to Revenue grown from 11.47 % in Q3'FY20 to 17.44 % in Q3'FY21.
- Net Profit at Rs. 1,860.48 Lakhs versus Rs. 477.64 Lakhs in Q3'FY20, grown by Rs. 1,382.84 Lakhs which is almost 289.51 % growth!
- Net Profit to Revenue grown from 3.40% in Q3'FY20 to 8.90% in Q3'FY21.
- The quarter reflected the strong positive free cash flows at Rs. 2,683.32 Lakhs versus Rs. 1,240.60 Lakhs in Q3'FY20, grown by Rs. 1,442.72 Lakhs which is almost 116.29%.
- Reduction in Long Term/Short Term Loans by Rs. 1760.00 Lakhs as compared to previous quarter.
- Finance costs at Rs. 84.48 Lakhs vs. Rs. 233.44 Lakhs in Q3'FY20.
- EPS of Rs. 3.97 vs. Rs. 1.02 in Q3'FY20.

9M'FY21 (YOY) Other Financial Highlights

- Reported EBITDA at Rs. 8,840.07 Lakhs as compared with Rs. 5,531.32 Lakhs in 9M'FY20, grown by 59.82%.
- EBITDA to Revenue grown from 11.39 % in 9M'FY20 to 16.41 % in 9M'FY21.
- Net Profit at Rs. 4,091.19 Lakhs versus Rs. 1,780.21 Lakhs in 9M'FY20, grown by Rs. 2,310.98 Lakhs which is almost 129.81 % growth!
- Net Profit to Revenue grown from 3.66% in Q3'FY20 to 7.59% in 9M'FY21.
- The quarter reflected the strong positive free cash flows at Rs. 6,484.63 Lakhs versus Rs. 4,075.02 Lakhs in 9M'FY20, grown by Rs. 2,409.61 Lakhs which is almost 59.13 %.
- Finance costs at Rs. 482.83 Lakhs vs. Rs. 830.44 Lakhs in 9M'FY20.
- EPS of Rs. 8.72 vs. Rs. 3.79 in 9M'FY20.

Briefing by Dr. Chandra Kumar Jain, Chairman and Managing Director of Gulshan Polyols on the Company's performance: "During the quarter, we worked diligently by assuring employees' safety while continuing to serve our customers by running our operations successfully. On back of streamlined operations, we continue to deliver higher volumes. We are setting up and expanding Gulshan Polyols for its next phase of growth and are confident to deliver superior value to our stakeholders in a sustainable manner."

"Our operational discipline and focused cost optimization programs, leveraging technology are driving our cost lower and is evident in our financial performance. Our unwavering focus on working hard is enabling us to stay ahead of the curve and deliver leading returns."

As announced previously, the Country Liquor business has become a feather on the cap of Company's performance in the Distillery segment which is doing exceptionally well due to processing and supply of 'Ethanol' to 'Public Sector Companies' and contributing into revenue growth by Rs. 3655.76 Lakhs in Q3'FY21 vs. Q3'FY20.

Further, Company's performance in the Grain Processing business has grown in revenue by Rs. 3349.89 Lakhs in Q3'FY21 vs. Q3'FY20, due to good demand and improved pricing of select products. The earnings in the third quarter of FY21 reflects a convincing performance, signaling a gradual revival from the negative impact of the global pandemic. The recovery in demand to pre-Covid levels, credible resumption of supply chain and logistics, cost & cash management, along with judicious price increase, has helped us to deliver profitability."

Moreover, on the basis of recent developments including operational and financial performance of the company for FY20 (Audited) and H1FY21 (Un-Audited) and the possible impact of the same on the credit profile of company, CARE Ratings Limited (CARE), has reaffirmed its credit rating, for the facilities and the rating stands at 'CARE A+; Stable' (Single A Plus; Outlook: Stable) for long-term facilities and 'CARE A1+' (A One Plus) for short-term facilities.

Shares of GULSHAN POLYOLS LTD. was last trading in BSE at Rs.99.4 as compared to the previous close of Rs. 101.7. The total number of shares traded during the day was 50185 in over 974 trades.

The stock hit an intraday high of Rs. 104 and intraday low of 97. The net turnover during the day was Rs. 5011141.


Source: Equity Bulls

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