Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Astron Paper & Board Mill Ltd announces Q2 FY19 results

Posted On: 2018-11-07 12:52:56

Astron Paper & Board Mill Limited is engaged in manufacturing of Kraft Paper. The Initial Public Offering made in December 2017 was for 140 lacs shares at Rs.50 each and listed on 29th December, 2017 on NSE and BSE Limited. The Company has declared its Q2 FY19 Financial Results for the Quarter & Half Year ended on 30th September, 2018 on Monday, 05 th November, 2018.

Highlights of Q2 Results

- Revenue Growth for the 3 months Q2 FY19 were Rs. 101.65 Cr, up 67 % YoY vs Rs.80.40 Cr reported in corresponding previous quarter.

- EBIDTA for the Q2FY19 at Rs. 14.36 Cr was up 82% YoY. EBIDTA margins improved 1.13 % during the current quarter YoY, on back of better efficiencies and higher volumes.

- PBT: (Profits Before Tax) in Q2FY19 at Rs. 10.93 Cr, is up by 36% QoQ vs Rs. 08.02 Cr in Q1FY19.

This increasing demand is being met with increased production from new plants which have recently commenced operations.

Capacity Expansion

Company is currently operating at almost 90% capacity utilization of its PM1 plant with installed capacity of 96,000 MT per annum. At the same location, recently in October 2018 the new line PM2 with installed capacity of 33,000 MT per annum commenced operations.

In the last one year our company has acquired two plants. The acquired plants include plant at Bhuj and Mehsana. Commercial operations have started in February,2018 at Bhuj, adding installed capacity of 24,000 MT per annum and Balaram Papers Pvt Ltd at Mehsana, Gujarat with capacity of 21600 MT per annum. With this Astron now has 4 manufacturing units overall capacity of 174600 MT at three locations in Gujarat.

Company's current major products are High RCT paper and GSM range mainly from 140 GSM to 350 GSM with 22 -35 BF. This has now been expanded with new PM2 line from 80 GSM - 180 GSM, enabling the company to offer the complete range of products from 80-350 GSM and 16-40 BF.

Raw Material

Since inception Waste Paper has been used as raw material instead of traditional usage of wood thus promoting the eco-friendly world. The Waste paper is majorly imported from USA. The plant is situated near the port giving it locational advantage.

Commenting on the Q2FY19 Financial Performance Mr Kirit G. Patel, CMD said "We are happy to share with you the strong financial performance delivered by our Company for the 2Q FY19. During this period we have reported a strong Revenue growth of 67% over the corresponding previous period on back of expanded capacity and a 1.13% increase in EBIDTA by improving margins and efficiencies in production.

We are a rapidly growing company, having made two new acquisitions in the last one year. The Funds from the IPO in Dec.2017 have been utilised for the said purpose of setting up the new line PM2 at the existing location. With this our current capacity has almost doubled to 1,75,000 mtpa in one year time. We expect to ramp up our production by the year end, to meet the increasing demand both domestically and in the export markets.

The expansion has also enabled us to expand our product offering to the full range of Kraft paper ranging from GSM 80 to 350 GSM with 22-35 BF.

Our Kraft paper is approved by a number of MNC's and large convertors as well as direct sales to the FMCG, Pharmaceuticals, Auto, E-Commerce including large MNC's. These vendors prefer larger Kraft paper manufacturers like Astron, who are pre-approved for paper quality and specifications. The demand for Kraft paper is strong and increasing with every year from new applications like fruit veg, ecom for packaging and shipping, grocers. The Kraft paper and Corrugated Box industry is fast becoming a sunrise industry.

In October, 2018 we participated in the annual three day exhibition of the Indian Corrugated Case Manufacturers association where we got a very encouraging interest and response from national as well as international convertors.

We have firmly rooted ourselves in the Kraft Paper and packaging space and aspire to continue our strong growth momentum over the next couple of years and remain focused on growing operating and profitability margins. I thank the entire team of for their constant efforts, sincerity and enthusiasm. Also, I would like to thank our valued Shareholders, who have reposed faith in our Company and supported us along with their critical inputs."

Shares of Astron Paper & Board Mill Ltd was last trading in BSE at Rs.114.5 as compared to the previous close of Rs. 119.05. The total number of shares traded during the day was 30031 in over 228 trades.

The stock hit an intraday high of Rs. 120.6 and intraday low of 113.65. The net turnover during the day was Rs. 3469568.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

BHEL expands bags order to erect Reactor side equipment of Kudankulam Unit 3&4

Amara Raja Batteries Ltd reports 2% growth in revenue during Q1 FY20

Jubilant Life Sciences Ltd board to approve 1st quarter results on July 26, 2019

Muthoot Capital Services Ltd calls for board meeting on July 29, 2019

ICRA revises ratings of Indo Count Industries Ltd

Reliance Industries Ltd approves merger of RHUSA with REGDL and merger of REGDL with itself

K P R Mill Limited board to consider Q1 results on July 29,2 019

IndiGo inaugurates Shillong as 54th domestic destination

Avanti Feeds Ltd Q1 consolidated PAT up at Rs. 101.45 crore

Shri Kumar Mangalam Birla appointed as Chairman of CENTURY Textiles and Industries Limited

ARSS Infrastructure Projects Ltd JV bags work order of Rs. 77.96 crore

HDFC Bank fixes Sep 20, 2019 as record date for stock split

HDFC Bank recommends special interim dividend of Rs. 5

AXIS Bank board approves fund raising of upto Rs. 18,000 crore

HDFC Bank Ltd Q1 FY20 consolidated net profit falls QoQ to Rs. 5676.06 crores

VXL Instruments Ltd calls for board meeting on July 29, 2019

Future Lifestyle Fashions Ltd Q1 PAT falls QoQ, YoY

Andhra Petrochemicals Ltd board to consider quarterly results on Aug 3, 2019

Vodafone Idea Ltd board to announce first quarter results on July 26, 2019

Jagran Prakashan Ltd board to approve Q1 results on July 31, 2019

CARE revises ratings of Godawari Power and Ispat Ltd

Dr. Reddy's Laboratories announces closure of the transaction to divest ZEMBRACE® SYMTOUCH® and TOSYMRA™ to Upsher-Smith Laboratories, LLC

Century Enka Ltd board approves appointment of Smt. Rajashree Birla as Chairperson

Garden Reach Shipbuilders & Engineers Ltd board to consider Q1 results on Aug 9, 2019

Amara Raja Batteries Ltd Q1 FY20 net profit at Rs. 140.91 crores

Cipla Ltd gets 7 observations from USFDA for API facility in Bengaluru

Kirloskar Pneumatic Co. Ltd. Q1 net profit at Rs. 3.46 crore

US FDA completes inspection at Strides' flagship facility in Bangalore

CG bags contract for 400 MW wind farm in Saudi Arabia

NCL Industries Ltd reports 4% growth in cement production in Q1 FY20

CRISIL reaffirms rating of Edelweiss Financial Services Ltd's short term borrowing

IndiGo reports PAT of INR 12,031 million and EBITDAR of INR 27,785 million in Q1 FY20

Brookfield to invest Rs. 25,215 crore in units of RIL's tower infrastructure trust

Bandhan Bank Ltd Q1 net profit rises to Rs. 701.14 crores

Mahindra CIE Automotive Ltd Q2 CY19 PAT drops to Rs. 126.22 crores

Bhageria Industries Ltd reports Q1 net profit of Rs. 17.01 crore

REC Limited launches US$ 650 Million 3.375% Notes

IOL Chemicals & Pharmaceuticals Ltd prepays term loan of Rs. 15.39 crore

McNally Bharat Engineering Company Ltd bags order from NLC India Ltd

RIL Q1 consolidated net profit at Rs. 10141 crores

L&T Technology Services Q1FY20 revenue rises on large deal wins

Dabur India Q1 Consolidated Net Profit surges 10.3%

Bhumika Group partners with Shoppers Stop Ltd. at Urban Square, Udaipur

HPL Electric partners with Haryana Steelers for Pro Kabaddi League Season 7

ICICI Lombard General Insurance Q1 FY20 PAT up 7.1% YoY

L&T Technology Services Ltd Q1 consolidated up at Rs. 203.9 crores

Indian Energy Exchange Ltd board to announce 1st quarter results on July 31, 2019

L&T Finance Holdings Ltd Q1 consolidated PAT at Rs. 548.79 crores

IndiaMART recognized as 'Top 5 Coding Powerhouse in India'

PNB to consider raising Rs. 5000 crore







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019