Plastiblends India announced that CRISIL has reaffirmed its ratings on the Banking facilities of the Company as follows :-

Total Bank Loan Facilities Rated Rs. 116 crore
Long-Term Rating CRISIL A+/Stable (Reaffirmed)
Short-Term Rating CRISIL A1 (Reaffirmed)

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Net profit of Plastiblends India declined 28.15% to Rs 5.36 crore in the quarter ended December 2017 as against Rs 7.46 crore during the previous quarter ended December 2016. Sales rose 7.10% to Rs 140.19 crore in the quarter ended December 2017 as against Rs 130.90 crore during the previous quarter ended December 2016.

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The result was announced after market hours yesterday, 30 January 2018.

Meanwhile, the S&P BSE Sensex was down 92.21 points or 0.26% at 35,941.52. The S&P BSE Small-Cap index down 84.70 points or 0.45% to 18,788.88, underperforming the Sensex.

On the BSE, 5,755 shares were traded on the counter so far as against average daily volumes of 4,373 shares in the past two weeks. The stock had hit a high of Rs 251.70 and a low of Rs 228 so far during the day. The stock had hit a record high of Rs 333.30 on 6 July 2017 and a 52-week low of Rs 199.50 on 27 March 2017.

Revenue from operations for Q3 December 2017 is not comparable with previous periods since sales are net of GST, whereas excise duties form part of other expenses in previous periods.

Separately, board of directors also approved to raise funds not exceeding Rs 100 crore through various modes.

Plastiblends India is engaged in the manufacturing of masterbatches.

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The Board of Plastiblends India has appointed Rahul Rathi as an Additional Director of the Company.

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