Plastiblends India Ltd Share Price – NSE  / BSE

Chemicals, Small Cap

Net profit of Plastiblends India declined 33.79% to Rs 6.31 crore in the quarter ended September 2024 as against Rs 9.53 crore during the previous quarter ended September 2023. Sales declined 11.93% to Rs 185.35 crore in the quarter ended September 2024 as against Rs 210.46 crore during the previous quarter ended September 2023.

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Plastiblends India will hold a meeting of the Board of Directors of the Company on 11 October 2024.

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EBITDA improved by 29.51% to Rs 18.73 crore in Q1 FY25 from Rs 14.46 crore in Q1 FY24. EBITDA margin rose by 146 basis points to 8.85% in Q1 FY25 as against 7.39% posted in Q1 FY24.

Profit before tax for the first quarter was Rs 14.61 crore, up by 39.48% from Rs 10.47 crore recorded in the same period last year.

Plastiblends stated that the domestic markets witnessed low double digit volume growth. There was subdued demand for plastic and polymer in Q1. After urban markets, now rural markets are showing signs of revival, driven by increased consumer spending and heightened business activity. Export markets have witnessed remarkably high double digit volume growth.

To meet the increase in demand of black masterbatch, company had augmented black capacity in last Financial Year which is getting utilized at optimum level. Company is contemplating augmentation of further capacity in black as well as other families,” Plastiblends said in a statement.

S. N. Kabra, chairman & managing director, said: “Good growth momentum was observed in Q1. The trend is expected to continue going forward.

The strategic initiative undertaken for capturing the additional market share, enhancing operational efficiency and prudent financial disciplinary strategy have played a pivotal role improving the margins.”

Plastiblends India is into manufacturing of masterbatches & compounds. These products find applications in various plastic processing industries such as flexible packaging (FMCG, package and fast food, etc.), consumer durable (electronic appliances, furniture, toys, luggage, house ware etc.), health care, agriculture, irrigation, piping, textiles, telecom, infrastructure etc.

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Net profit of Plastiblends India rose 41.83% to Rs 10.85 crore in the quarter ended June 2024 as against Rs 7.65 crore during the previous quarter ended June 2023. Sales rose 8.13% to Rs 211.58 crore in the quarter ended June 2024 as against Rs 195.67 crore during the previous quarter ended June 2023.

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