Astral Poly Eyes 15% Growth In Pipes Segment For FY20
Astral Poly Technik Ltd. expects double-digit growth in both its pipes and adhesives verticals in the next fiscal despite the prevailing liquidity crisis in the market.
“We are working on 15 percent growth in the piping business and 20 percent growth in that of adhesives. We expect sizeable improvement post elections,” Chief Financial Officer Hiranand Savlani said in an interview with BloombergQuint. “Also, due to the ongoing liquidity crunch, we are bringing down the average receivable to below 30 days from 50 days.”
Savlani said the corrugated and plastic pipe maker Rex Polyextrusion, which Astral acquired in July 2018, would return to its “normal rate” of operating margin of around 14 percent from the financial year 2020 after overcoming compliance pressures.
Key Highlights: (YoY)
- Revenue rose 24 percent to Rs 634 crore.
- Net profit rose 15 percent to Rs 53 crore.
- EBITDA rose 28 percent at Rs 93.8 crore.
- Operating margin at 14.8 percent versus 14.3 percent.
The stock fell as much as 1.6 percent to Rs 1,124.25 apiece in today’s trade compared to 0.2 percent decline in the NSE Nifty Index.
Watch the full interview here: