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:

L&T announces open offer for Mindtree Ltd at Rs. 980

Mukesh Ambani bails out Anil again

L&T to acquire significant stake in Mindtree in an allcash transaction subject to regulatory approvals

RBI renews the authorization issued to Vakrangee for White Label ATMs

Sagar Productions Ltd bags worldwide distribution rights for film 'Ram Ki Janmabhoomi'

RCom group and Reliance Jio terminate agreements by mutual consent

Aegis Logistics Ltd board approves interim dividend of Rs. 0.50 for 2018-19

Aarti Industries Ltd opens QIP

Global Offshore Services Ltd appoints additional director

Persistent Systems Limited board to consider Q4, FY19 results

Majesco acquires Insurance Software Business in India

ICRA assigns credit ratings to Amines & Plasticizers Ltd

Allahabad Bank board to consider raising equity capital on March 26, 2019

Bajaj Finserv RBL Bank SuperCard reaches the milestone of 1 million

VOLTAS introduces industry's first Adjustable Inverter AC range

Hotel Leela Venture Ltd enters into binding contract with Brookfield

OFS Technologies Ltd to change name as Acewin Agriteck Ltd

Tata Communications honored by Frost & Sullivan for creating robust IZO™ Cloud Enablement Platform

BEML Ltd to consider interim dividend on March 21, 2019

Adani Ports and SEZ approves buy-back of 14,000 NCDs

Zensar features 'User First' Digital Workplace Services at the ISG Future Workplace Summit 2019

CARE reaffirms long term rating of PNC Delhi Industrialinfra Private Limited

Wipro achieves Maturity Level 5 in CMMI® V2.0 Development View

Canara Bank to raise long term foreign currency funds of $500 mn

East West Freight Carriers Limited wins Excellence International Cargo Award 2018 from Air India

FIEM Industries Ltd board declares interim dividend of Rs. 8

Pidilite Industries Ltd announces resignation of CFO Mr. P Ganesh

Thomas Cook India observes 20% growth in bookings

Bharat Gears Ltd to consider rights issue terms on March 22, 2019

NLC India Ltd board approves interim dividend of Rs. 4.53

Bharat Dynamics Ltd board approves 1st interim dividend of Rs. 5.25

Hindustan Aeronautics Ltd board declares interim dividend of Rs. 19.80

CMI to supply a Continuous Annealing Line to JSW India

ICICI Lombard partners with Mobikwik to offer an affordable online fraud protection policy

Lakshmi Mills Company Ltd appoionts Sri A Doraiswamy as CFO

Seadrill Selects TCS to Drive Global IT Transformation

GM Breweries Ltd board to consider Q4 results on Apr 4, 2019

Jet Airways India Ltd grounds additional 4 aircraft

Everest Organics Ltd announces opening of a New R&D Center

Ratnamani Metals & Tubes Ltd received new domestic order of Rs.298.00 Crores

IndusInd Bank forays into Boisar

SPML Infra secures new project orders worth INR 883 Crore

IndusInd Bank inaugurates a branch in Sadar Bazar, Delhi

Ashoka Buildcon Limited receives LoI from JBVNL

Ashoka Concessions Ltd ordered to pay Rs. 57.33 cr plus interest to L&T Infrastructure Development Projects Ltd

Vikas Proppant & Granite updates on proppants business

Yedeshi Aurangabad Tollway Pvt. Ltd receives provisional certificate for toll collection

Vodafone Idea Ltd board to consider rights issue terms on March 20, 2019

INOX Leisure Ltd commences operations of 4 screens at Inorbit Mall, Malad West

Lumax Auto Technologies Ltd to sell PCB unit to Lumax Industries Ltd







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

disclaimer copyright © 2005 - 2019