Astron Paper & Board Mill Ltd announces Q4, FY18 results

Astron Paper & Board Mill Limited (BSE Symbol: 540824 & NSE Symbol: ASTRON) is located in Gujarat and engaged in manufacturing of Kraft Paper.

Audited financial results for the quarter ended March 31, 2018 and Full Year FY18

Highlights

- Strong quarter 4Q FY18 and first full year FY18 Financial Performance reported post listing on 29th Dec. 2017. Revenues were up 64.61%% YoY in 4Q FY18 and 38.01% YoY for 12 months ended 31 March FY18.

- EBIDTA for the 4QFY18 is Rs.9.87 crores up 85.88% YoY & for the full year FY18 Rs.31.62 crores up 41.13%. EBIDTA Margin for the 4QFY18 improved by 147bsp points to 12.82% vs11.35% in the corresponding previous year quarter.

- PAT for 4QFY18 at Rs.5.18 crores down by-4.60 % due to DTL YoY && full year FY18 Rs.20.90 crores up 108.37%. The company was able to report a strong growth on back of higher sales and improved efficiency at the acquired plant.

- Installed Capacity currently stands at 1,20,000 MT per annum. Company is currently operating at almost 85% capacity utilization of its PM1 plant with installed capacity of 96,000 MT per annum. Commercial operations have just started of the recently acquired Kraft paper unit at Bhuj, adding installed capacity of 24,000 MT per annum. This plant was acquired as a stressed asset in the last 4 months. The full impact of capacity expansion will be reflected in the full year FY2018-19.

- The company is in process of installing PM2 with capacity of 33,000 MT per annum in same premises. In addition, due diligence is ongoing to acquire a plant near Ahmedabad with 21600 MT per annum capacity.

Commenting on Company's performance for the 4Q FY18 and full year FY18, the Chairman and Managing Director Mr. Kirit Patel said: "We are happy to share with you the strong financial performance delivered by our Company for the 4Q FY18 and full year FY18. During this period we have expanded capacity and increased sales and profitability. With all expansions in place, the current manufacturing capacity which is for High RCT paper and GSM range mainly from 140 GSM to 350 GSM with 22 -35 BF will expand to full range from 80 to 350 GSM. Since inception waste paper has been used as raw material instead of traditional usage of wood thus promoting the eco-friendly world. The plant is situated near the Mundra & Kandla port giving it locational advantage.

We have firmly rooted ourselves in the Kraft Paper and packaging space and aspire to continue our strong growth momentum over the next couple of years and remain focused on growing operating and profitability margins. I thank the entire team of for their constant efforts, sincerity and enthusiasm. Also, I would like to thank our valued Shareholders, who have reposed faith in our Company and supported us along with their critical inputs."

Source : Equity Bulls

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