Astron Paper and Board Mill Ltd announces Q3FY22 results

Revenue: Q3FY22 at Rs.141.52 crores up 13% YoY and 22% QoQ. For the nine months ending on December 21 the revenue stood at Rs.369.55 crore up 27% YoY, despite the subdued demand in H1FY22. Volumes in current quarter were higher by 15% over the previous quarter. Production during the quarter also grew by 16% as compared to previous quarter. Average Realization was 7% QoQ higher, in line with international prices factoring in higher raw-material costs.

EBIDTA & PAT: Q3FY22 EBIDTA at Rs.9.85 Crore is up 29% QoQ, supported by higher volumes and better realisation. EBIDTA Margins at 7% showing an improvement of 34 bsp. The EBIDTA was subdued mainly due to higher raw material prices and sudden spurt in the prices of coal. In the current fiscal, the Kraft paper manufacturers have witnessed margins dip with jump in prices of imported waste paper prices and sharp rise in the prices of commodities.

Management Comments on Financial Results & Export Statragy

"We at Astron put our all best to withstand ourselves against all odds & came out of tough situation of severely hitting rising input prices due to commodity driven inflation further fuelled with logistic challenges.

Considering the tough market conditions due to above stated high input costs we are happy to share that we remain afloat in this tough unprecedented time too. This was possible with focus on enhancing our internal efficiency and marketing our products meritoriously.

We are happy to share that our focussed endeavours have opened up new geographies for exports in developed geographies of European countries with very long term contract. We are targeting for 15-20% of our total sales to developed European geographies. We are happy to share that there is good progress on exporting to newer geographies with dedicated team focussing on export opportunities via various channels as well on-going participation in auctions.

I thank the entire team of for their constant efforts. I would also like to thank all our stakeholders and our valued shareholders, who have reposed faith in our Company and supported us in our growth journey."

Shares of Astron Paper & Board Mill Limited was last trading in BSE at Rs. 46.00 as compared to the previous close of Rs. 45.50. The total number of shares traded during the day was 4518 in over 257 trades.

The stock hit an intraday high of Rs. 46.25 and intraday low of 44.25. The net turnover during the day was Rs. 204484.00.

Source : Equity Bulls

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AstronPaperandBoardMill INE646X01014 Q3FY22 9MFY22 ResultUpdate