February 3 2016, 17.35 PM IST || Pocket News Alert
(Formerly Precision Pipes and Profiles Company Limited)
Result Highlights
For the Quarter ended December 31, 2015 (Q3FY16):
•Total Income of Rs. 71.78 crore; as compared to Rs. 71.46 crore in Q3FY15
•EBITDA of Rs. 12.07 crore; recording a growth of 52.02%
•Net Profit of Rs. 3.51 crore; y-o-y growth of 48.73%
•EPS for Q3FY16 stood at Rs. 2.51, as compared to Rs. 1.68 for Q3FY15
For the Nine-month ended December 31, 2015 (9MFY16):
•Total Income of Rs. 225.69 crore, as compared to Rs. 220.73 crore in Q3FY15
•EBIDTA of Rs. 39.01 crore , y-o-y growth of 35.22%
•Net Profit of Rs. 11.04 crore, y-o-y growth of 51.44%
•EPS for 9MFY16 stood at Rs. 7.88, as compared to Rs. 5.20 for 9MFY15
Mumbai, February 03, 2016: PPAP Automotive Limited (PPAP), a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts, today declared its financial results for the third quarter ended December 31, 2015.
The company reported a healthy increase of 48.73% in its Net Profit to Rs. 3.51 crore for Q3FY16, as compared to Rs. 2.36 crore in the corresponding quarter of last fiscal.
Total Income for the quarter ended December 31, 2015 stood at Rs. 71.78 crore, as compared to Rs. 71.46 crore in the same period last year. PPAP’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q3FY16 stood at Rs. 12.07 crore, up by 52.02%, as compared to Rs. 7.94 crore in Q3FY15. The company’s EBITDA margin improved significantly from 11.11% in Q3FY15 to 16.82% in Q3FY16.
For the nine month ended December 31, 2015, PPAP’s net profit jumped by 51.44% to Rs. 11.04 crore, as compared to Rs. 7.29 crore of the year ago period.
Total Income for 9MFY16 stood at Rs. 225.69 crore, as compared to Rs. 220.73 crore during 9MFY15. PPAP’s EBITDA in 9MFY16 stood at Rs. 39.01 crore, up 35.22%.
Earnings per share (EPS) for the quarter ended Q3FY16 stood at Rs. 2.51, up 49.40% as compared with Rs. 1.68 for the quarter ended December 31, 2014 (Q3FY15). For 9MFY16, EPS stood at Rs. 7.88 as against Rs. 5.20 in 9MFY15.
Commenting on the financial performance of the company Mr. Ajay Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, “The sales were stable on a year-on-year basis. The growth which was expected to take place in this quarter could not take place due to lower demand by the end customers. The Company's focus on operational efficiency continues to deliver results which are reflected by the improvement in operating margins.”
About PPAP Automotive Limited (www.ppapco.in; BSE: 532934; NSE: PPAP)
PPAP Automotive Limited (PPAP) is a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts in India. The company's state of the art manufacturing facilities are located in Noida (UP), Greater Noida (UP), Chennai (Tamil Nadu) and Pathredi (Rajasthan). All the plants are TS 16949, ISO 14001 and OHSAS 18001 certified. All the facilities are equipped with the latest technology available today for plastic extrusion as well as injection molding.
The company's core competence is in Polymer Extrusion based Automotive Sealing System and Injection Molded products. The company has capability to extrude up to four materials in the same profile according to customer specifications. It has capability of processing engineering plastics like PVC, PP, ABS and TPO. Today, the company manufactures over 500 different products for its customers and continuously targets to achieve zero ppm in Quality and Delivery performance for all its customers. The company’s customers include prestigious manufacturers like Maruti Suzuki India Limited, Honda Cars India Limited, General Motors India Private Limited, Toyota Kirloskar Motor Private Limited, Renault Nissan Automotive India Private Limited, Tata Motors Limited, Ford India Private Limited and Mahindra and Mahindra Limited along with other OEM’s. The company also caters the requirements of their respective Tier 1 suppliers.
