Linc Pen & Plastics Ltd Q2FY22 revenue up 71% qoq

Profit before tax was Rs. 480 lakh, surpassing the pre-Covid level of Rs. 463 lakh in Q2 FY 2019-20.

November 18, 2021 3:25 IST | India Infoline News Service
Quarterly Results
Linc Pen & Plastics Ltd said in the regulatory filing that the company’s revenues were 93% of pre-Covid revenues (Q2 FY 2019-20).

Revenues grew 71% QoQ and 46% YoY. Revenue rebound was despite the closure of schools, colleges and other educational institutions.

Profit before tax was Rs. 480 lakh, surpassing the pre-Covid level of Rs. 463 lakh in Q2 FY 2019-20. Cash profit was Rs. 790 lakh, a YoY growth of 276%. The improved product mix included non-stationery items.

Managing Director Deepak Jalan’s said “Despite the pandemic continuing to be a threat to the stationery and writing instruments industry, Linc grew revenues to near pre-Covid levels. The creditable factor was that the Company posted a profit before tax above the pre-Covid level despite a sharp increase in raw material (plastic granules and ball pen ink) prices. Linc moved product stocking of from stationery shops to general stores, widening distribution coverage and the possibility of impulse purchase. The Company’s inventories and debtors witnessed a decline of Rs. 880 lakh and Rs. 400 lakh respectively. Borrowings of the Company declined by Rs. 500 lakh during the quarter under review. The Company continued to focus on increasing the proportion of valueadded products.”

With the Indian economy posting a YoY GDP growth of 20.1% in Q1 of FY 2021-22, the Company is optimistic of sustaining its growth. Schools, colleges and other educational institutions are likely to reopen in mid-November 2021, strengthening prospects for the stationery and writing instruments industry in India.

The Company has set a target of surpassing pre-Covid levels (bottomline and topline) in the third quarter. The Company will continue to moderate liabilities with the objective to keep debt at lower levels for FY2021-22.

The stock is trading at Rs240.25 down by Rs6.75 or 2.73% from its previous closing of Rs247 on the BSE.

The scrip opened at Rs243.40 and has touched a high and low of Rs252.50 and Rs236 respectively. 

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