Chemical stock which is the largest manufacturer and exporter of colour & additive masterbatches and thermoplastic compounds, soars 15 percent in the day’s trade after it announces robust Q2 business updates.
At 10:00 a.m the shares of Plastiblends India were trading at Rs. 273 a piece up by 15 percent from its previous day close price and the market capitalization of the company is 700 Cr.
As per the company’s filing, Plastiblends has published the company’s quarterly update and it is as follows, the revenue from operations has grew by 7.56 percent QoQ from 195 Cr in Q1FY24 to 210 Cr in Q2FY24 and 16.73 percent YoY from 180 Cr in Q2FY23 to 210 Cr in Q2FY24.
The company’s profit after tax increased by 24.57 percent QoQ from 7.65 Cr in Q1FY24 to 9.53 Cr in Q2FY24 and 126.50 percent YoY from 4.21 Cr in Q2FY23 to 9.53 Cr in Q2FY24
The company’s PAT Margins grew by 62 bps QoQ from 3.91 percent in Q1FY24 to 4.53 percent in Q2FY24 and grew by 219 bps from 2.33 percent in Q2FY23 to 4.53 percent in Q2FY24.
The company’s revenue increased by 7.09 percent from 717.63 Cr in FY22 to 768.52 Cr in FY23, accompanied by decreasing profits of 36.7 Cr to 26.85 Cr.
The company reported a return on equity (ROE) of 6.92 percent and return on capital employed (ROCE) of 9.53 percent, this indicates that the company is making decent returns on its equity and capital employed.
Plastiblends India Limited is India’s largest manufacturer and exporter of Colour & Additive Master Batches and Thermoplastic Compounds for the Plastic Processing Industry.
Written by: Bharath K.S
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