Plastibends record highest ever income of Rs17,521 lakhs in Q3 FY22

14 Jan 2022 , 12:16 PM

Plastiblends announced its financial results updates for the third quarter and nine months ending December 2021 on Friday. The company achieved the highest ever recorded quarterly income of Rs 17521 lakh as against Rs 17261 lakh in Q2, showing sequential growth of 2%.

Company’s EBITDA grew over 73%, at Rs 2,115 lakhs against Rs 1224 for Q2. Its PBT registered a whopping growth of 117% for the quarter, at Rs 1654 lakhs against Rs 763 lakhs for the quarter ending December 2020.

The company achieved a total income of Rs 50,283 lakh as of December 2021, against Rs 40,772 lakh as of December 2020, showing an enormous growth of 23%.

The PBT for Apr-Dec 21 stood at Rs 3,352 lakh as against Rs 3,678 lacs for the previous period, due to multiple headwinds the margin pressure grew.

“We have achieved the highest ever quarterly income of Rs 17,521 lakh in the history of the company which is a milestone. In the past few quarters as company faced multiple headwinds, such an unprecedented surge in input costs, a continued shortage of few materials, supply chain constraints, higher freight costs, lower demand, etc. which led to aberration in the margins. Few of these concerns eased during the Q3 and Q3 was without COVID-related restrictions after a long time which led to a revival of demand in Q3. Various strategic steps taken also yielded positive results.”, commented Shri S.N. Kabra, Chairman & Managing Director.

Considering the shift towards a digital culture, the company has taken the Customer Relationship Management (CRM) software of the sales force. Further, it has streamlined the logistic module of SAP, the benefit of which is immense.

Plastibends Limited is the largest manufacturer of Masterbatches, enjoying the market leader status since inception.

Plastiblends India Ltd is currently trading at Rs253 up by Rs9.4 or 3.86% from its previous closing of Rs243.60 on the BSE. The scrip opened at Rs250.25 and has touched intraday high and low of Rs263.95 and Rs250.25 respectively