Astral Poly Technik reported better than expected numbers for Q3FY18 on the bottom-line front. Revenue grew by 17.5% yoy to Rs529cr against consensus estimate of Rs549cr. EBITDA came in at Rs74cr, up 16.1% yoy, against consensus estimate of Rs78cr. EBITDA margin contracted by 16bps yoy to 13.9%. PAT grew by 43.2% yoy to Rs46cr as against consensus estimate of Rs44cr.
Strong revenue growth was on account of 28% increase in volumes.
Raw material cost as a percentage of sales declined by 256bps yoy, while other expenses increased by 267bps yoy.
Other income increased from Rs1.4cr in Q3FY17 to Rs5.7cr in Q3FY17.
Interest expense declined by 13.2% yoy, while there was forex gain of Rs3.5cr vs. loss of Rs2.3cr in Q3FY17.
Astral Poly Technik Ltd ended at Rs. 784.30, down by 10.45 points or 1.31% from its previous closing of Rs. 794.75 on the BSE.
The scrip opened at Rs. 809.95 and touched a high and low of Rs. 809.95 and Rs. 774 respectively. A total of 28,649(NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.
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