Plastiblends India added 2.71% to Rs 323.55 after the company reported 41.83% jump in net profit to Rs 10.85 crore on a 8.31% increase in revenue from operations to Rs 211.58 crore in Q1 FY25 as compared with Q1 FY24.
EBITDA improved by 29.51% to Rs 18.73 crore in Q1 FY25 from Rs 14.46 crore in Q1 FY24. EBITDA margin rose by 146 basis points to 8.85% in Q1 FY25 as against 7.39% posted in Q1 FY24.
Profit before tax for the first quarter was Rs 14.61 crore, up by 39.48% from Rs 10.47 crore recorded in the same period last year.
Plastiblends stated that the domestic markets witnessed low double digit volume growth. There was subdued demand for plastic and polymer in Q1. After urban markets, now rural markets are showing signs of revival, driven by increased consumer spending and heightened business activity. Export markets have witnessed remarkably high double digit volume growth.
"To meet the increase in demand of black masterbatch, company had augmented black capacity in last Financial Year which is getting utilized at optimum level. Company is contemplating augmentation of further capacity in black as well as other families, Plastiblends said in a statement.
S. N. Kabra, chairman & managing director, said: Good growth momentum was observed in Q1. The trend is expected to continue going forward.
The strategic initiative undertaken for capturing the additional market share, enhancing operational efficiency and prudent financial disciplinary strategy have played a pivotal role improving the margins.
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Plastiblends India is into manufacturing of masterbatches & compounds. These products find applications in various plastic processing industries such as flexible packaging (FMCG, package and fast food, etc.), consumer durable (electronic appliances, furniture, toys, luggage, house ware etc.), health care, agriculture, irrigation, piping, textiles, telecom, infrastructure etc.
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