Prakash Pipes Ltd reports Q2FY21 results

During the quarter ended 30th September 2020, the Company has achieved Net Sales of Rs. 125.85 crores, higher by 24.67% as compared to corresponding quarter of last year. The EBITDA, at Rs. 14.75 crores, grew by 25.11%. The Net Profit stood at Rs. 9.14 crores, higher by 37.44% as compared to corresponding quarter of last year.

During the half year ended 30th September 2020, the Company has achieved Net Sales of Rs. 214.24 crores, higher by 4.20% as compared to corresponding quarter of last year. The EBITDA, at Rs. 27.39 crores, grew by 21.19%. The Net Profit stood at Rs. 16.43 crores, higher by 25.90% as compared to corresponding quarter of last year.

The company has reported strong performance on account of better sales realization, cost reduction measures, operational efficiencies and growing volumes.

During the quarter, the company has added three injection moulding machines for making PVC fittings. The expansion in the range of PVC Pipes & fittings is on-track.

As regards to the Flexible Packaging, the division has registered phenomenal growth during the quarter under review, with sales growing from 668 MT in Q2FY20 to 2133 MT in Q2FY21, which is over three times.

Source : Equity Bulls

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