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Plastiblends India Ltd reports net profit of Rs. 11.37 crore in Q3FY21

Posted On: 2021-01-15 08:07:56 (Time Zone: Arizona, USA)


PLASTIBLENDS INDIA LTD. has reported financial results for the period ended December 31, 2020.

Financial Results (Q3 FY20-21) - QoQ Comparison

The company has reported total income of Rs.160.79 crores during the period ended December 31, 2020 as compared to Rs.143 crores during the period ended September 30, 2020.

The company has posted net profit / (loss) of Rs.11.37 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.7.63 crores for the period ended September 30, 2020.

The company has reported EPS of Rs.4.38 for the period ended December 31, 2020 as compared to Rs.2.94 for the period ended September 30, 2020.

FinancialsQ3 FY20-21Q2 FY20-21% Change
Total Income₹ 160.79 crs₹ 143 crsUp Tick 12.44%
Net Profit₹ 11.37 crs₹ 7.63 crsUp Tick 49.02%
EPS₹ 4.38₹ 2.94Up Tick 48.98%

Financial Results (Q3 FY20-21) - YoY Comparison

The company has reported total income of Rs.160.79 crores during the period ended December 31, 2020 as compared to Rs.149.27 crores during the period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.11.37 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.11.40 crores for the period ended December 31, 2019.

The company has reported EPS of Rs.4.38 for the period ended December 31, 2020 as compared to Rs.4.39 for the period ended December 31, 2019.

FinancialsQ3 FY20-21Q3 FY19-20% Change
Total Income₹ 160.79 crs₹ 149.27 crsUp Tick 7.72%
Net Profit₹ 11.37 crs₹ 11.40 crsDown Tick -0.26%
EPS₹ 4.38₹ 4.39Down Tick -0.23%

Financial Results (9 Months ended FY 20-21) - YoY Comparison

The company has reported total income of Rs.407.71 crores during the 9 months period ended December 31, 2020 as compared to Rs.480.91 crores during the 9 months period ended December 31, 2019.

The company has posted net profit / (loss) of Rs.25.23 crores for the 9 months period ended December 31, 2020 as against net profit / (loss) of Rs.32.21 crores for the 9 months period ended December 31, 2019.

The company has reported EPS of Rs.9.71 for the 9 months period ended December 31, 2020 as compared to Rs.12.39 for the 9 months period ended December 31, 2019.

Financials9 Months ended FY20-219 Months ended FY19-20% Change
Total Income₹ 407.71 crs₹ 480.91 crsDown Tick -15.22%
Net Profit₹ 25.23 crs₹ 32.21 crsDown Tick -21.67%
EPS₹ 9.71₹12.39Down Tick -21.63%

Commenting on the performance, Shri S. N. Kabra, Chairman & Managing Director said, "The sales for the third quarter was 107 % of the previous third quarter sales. During Oct-Dec quarter Colour, White and Black masterbatch sales were highest ever in the history of Company.

The unorganized segment which constitute significant portion of Masterbatch industry has got badly hit due to COVID pandemic and it will be further impacted by tightening of GST regulations and recent introduction of E - Invoicing.

We as a market leader in organized segment since last 5 decades will be major beneficiary going forward as India's economy is showing decisive signs of a 'V-shaped' recovery with the return of consumer confidence, all time high GST collection , robust financial markets etc. In India we saw faster-than-expected pace of recovery in October-December quarter as the pandemic situation did not substantially deteriorate during the festive season . In the near term, there are reasons for optimism. With vaccination programme being rolled out the accruals of the economic benefits would be significant in time to come . Further, we expect union budget to be major catalyst which is expected to focus on demand enhancing measures. All these measures will lead to growth in GDP very significantly.

In a span of less than three years there is a reduction of approx. Rs. 100 Cr in borrowings of the Company.

As of 31st Dec, 2020 the term loan of Rs. 912.50 Lacs is outstanding which will be paid on or before 9th Feb, 2021 as per terms and conditions of the loan. Meanwhile Short term surplus of Rs. 1175 Lacs is deployed in various safer instrument.

Handful of manufacturing Companies gave salary increment to their employees during this critical phase of economic slowdown which is further compounded by woes of COVID Pandemic. It is with great pride we inform that Company gave increment to its employees during this period. In earlier press release it was informed that Company gave 100% of Salary during lockdown period to all its employees. In Dec, 2020, under medical insurance, Company took "Home Care Treatment Plan" for COVID-19 for its employees. We treat all our employees as part of our family.

In past several years, we had adapted to technological advancement in timely manner and done digitization which will help us tremendously going forward."

Shares of PLASTIBLENDS INDIA LTD. was last trading in BSE at Rs.251.2 as compared to the previous close of Rs. 253.15. The total number of shares traded during the day was 3818 in over 276 trades.

The stock hit an intraday high of Rs. 262 and intraday low of 248.65. The net turnover during the day was Rs. 972797.


Source: Equity Bulls

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