Company Update - Wim Plast - ICICI Direct

Wim Plast (WPL) reported a sluggish performance in Q3FY22 on the profitability front wherein its EBITDA and PAT declined sharply by 20% and 19% YoY to Rs. 15 crore and Rs. 10 crore, respectively. The company has faced significant pressure in its gross margins, which declined ~870 bps YoY (50 bps QoQ). We believe a delay in price hikes (due to intense competition from regionals/small players) and adverse product mix has led to fall in gross margins. However, savings in other expenses helped arrest EBITDA margin fall to 681 bps YoY at 17%. Revenue increased 12% YoY (down ~2% QoQ) to Rs. 86.4 crore, on a favourable base of last year. Segment wise plastic segment revenue increased 14% to Rs. 80 crore while revenues from other segments declined 5% YoY despite a lower base of last year.

For details, click on the link below: Link to the Report

Shares of WIM PLAST LTD. was last trading in BSE at Rs. 428.70 as compared to the previous close of Rs. 428.90. The total number of shares traded during the day was 4008 in over 143 trades.

The stock hit an intraday high of Rs. 443.00 and intraday low of 427.00. The net turnover during the day was Rs. 1733195.00.

Source : Equity Bulls

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WIMPLAST INE015B01018 CompanyUpdate ICICIDirect