TPL Plastech hits fresh 52-week high post strong Q4 numbers

Sales rose 6.76% to Rs53.86cr in the quarter ended March 2021 as against Rs50.45cr during the previous quarter ended March 2020.

May 27, 2021 03:05 IST India Infoline News Service

Shares of TPL Plastech touched a new 52-week high on the BSE in the early trade after posting a good set of Q4 numbers. The company’s net profit rose 60.10% to Rs3.33cr in the quarter ended March 2021 as against Rs2.08cr during the previous quarter ended March 2020. Sales rose 6.76% to Rs53.86cr in the quarter ended March 2021 as against Rs50.45cr during the previous quarter ended March 2020.

The stock ended at Rs269 up by Rs21.7 or 8.77% from its previous closing of Rs247.30 on the BSE.

“We are pleased to report healthy performance for the quarter ended March 31, 2021, despite challenging external environment. The company has posed improving performance quarter on quarter (Q-o-Q) during the year. We are confident of maintaining the growth momentum of over 20% in period ahead, backed by improving demand environment and our strong execution capabilities.

The growth in the Chemicals industry including Specialty Chemicals and Pharmaceuticals has been driving the demand for packaging products around the world. We also expect growth opportunity to emerge for India given the shift of chemical manufacturing base from China to other Asian countries including India. This will also lead to increase in exports from India. The company plans to set up new manufacturing unit in western region (Silvassa, UT) for manufacturing of small packaging products (50 ml to 10 lts) as Value Added Products to serve the existing customers in the segment of Pharma, FMCG, Food etc. The Phase 1 investment will be Rs. 80 million (approximately). The sale expected to start by October 2021.”

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