Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
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

Other Headlines:

Suyog Telematics Ltd board approves fund raising proposal

CRISIL reaffirms ratings of Menon Bearings Limited

Eldeco Housing & Industries Ltd to enter into MoU with Eldeco Infrastructure and Properties Ltd

India Finsec Limited to provide additional corporate guarantee to IFL Housing Finance Ltd

IndiGo awarded Best Domestic Airline by FICCI

PG Industry Ltd board approves stock split

Ipca Laboratories Ltd gets 3 observerations from USFDA for Piparia unit

Nath Pulp & Paper Mills Ltd gets NCLT nod for merger

Vadilal Industries Ltd Board recommends Dividend of Rs. 1.25 for FY2019

Vadilal Enterprises Ltd Board recommends Dividend of Rs. 0.80 for FY2019

Jonjua Overseas Ltd updates on order

Vadilal Industries Ltd reports consolidated Q1 FY20 PAT of Rs. 37.67 crores

Vadilal Enterprises Ltd posts PAT of Rs. 11.17 crores in Q1 FY20

CNG supply, CNG-run vehicles and D-PNG supply launched in Ranchi

Insilco Ltd announces shut down of plant on high inventory

Ind-Ra revises rating outlook of Dynamatic Technologies Ltd

US FDA Inspection at Alkem's two manufacturing facilities

Cupid Ltd receives order of Rs. 4.95 crores

Trident Limited won 'Madhya Pradesh State Level 8th Kaizen Competition' Award

Supershakti Metaliks Ltd Board approves 1:1 Bonus Issue

Advik Laboratories Ltd to sell plant to pay for OTS with Indian Overseas Bank

Galaxy Surfactants' 'Aapda Rahat' CSR project extend flood relief aid to 1,000 families in Sangli

NHPC signs agreement with Assam Government for 2000 MW Hydro Power Project

NCL Industries Ltd to form JV in China

ICRA reaffirms ratings of Endurance Technologies Ltd

Bandhan Bank launches credit cards, in partnership with Standard Chartered Bank

IFFCO to invest Rs. 262.15 crore in Triumph Offshore Pvt. Ltd.

Wockhardt Ltd receives GMP compliance certificate for Ankleshwar unit

Thomas Cook India brings Domestic Tourism to the forefront

Hindustan Oil Exploration Company Ltd clarifies on stake sale by KMPs

Maruti Suzuki to proactively recall 40,618 WagonR (1 litre) vehicles

Sundaram-Clayton Ltd's plants to work only for 5 days in a week

Nilkamal Bito Storage Systems Pvt Ltd is now wholly owned subsidiary of Nilkamal Ltd

TVS Motor Company supports flood-affected states across India

Ishan Dyes & Chemicals Ltd allots 47,03,447 shares on rights basis

63 moons wins MPID case in Bombay HC, Court rules NSEL is not financial establishment

Brickwork Ratings revises ratings of Sical Logistics Ltd

TCS iON IntelliGem to Help School Students Build 21st Century Skills

Glenmark Pharmaceuticals receives ANDA approval for Fulvestrant Injection, 250 mg/5 mL (50 mg/mL)

Ethos Ltd opens new store at Phoenix Maret City, Velachery, Chennai

MEP Infrastructure Developers receives LOA for BOT project

India Ratings Places Shree Renuka Sugars on RWN

Infosys and University of Illinois Urbana-Champaign Enter a Strategic Partnership for Precision Medicine

Dabur India Ltd updates on new step down Subsidiary Company

Bimetal Bearings Ltd announces re-alignment of production

Amazon to acquire 49% in Future Coupons Ltd

Pidilite unveils state-of-the-art adhesive manufacturing plant in Bangladesh

HDFC Bank Ltd appoints Mr. Srinivasan Vaidyanathan as CFO

New Version of TCS iCMC™ Solution to Help Enterprises Accelerate their Cloud Journey

Kamdhenu Ltd starts partial manufacturing operations at paints factory, Alwar

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

disclaimer copyright © 2005 - 2019