BHANSALI ENGINEERING POLYMERS LIMITED - RESULTS FOR Q2 FY 2017-18

 

BHANSALI ENGINEERING POLYMERS LIMITED

RESULTS FOR 

Q2 FY 2017-18 (SEP 2017)

Bhansali Engineering Polymers Limited has declared impressive Results for the second Quarter ended September 2017. The Year on Year and Quarter change percentage also is given below.

Net Sales have gone up by 60% YoY. Net Profits  have gone up by  186%.

NEWS FROM COMPANY WEB SITE :

After extensive scientific research, BEPL has successfully developed super high gloss and high scratch resistance MMA-ABS resin (IPM series).

IPM series products are specially designed on the concept of integrating both features brought from MMA and ABS polymers to provide super high gloss and high scratch resistance together with high impact and high modulus properties.

Excellent gloss with amplified color depth especially in premium jet black color and high scratch resistance with balance of impact & tensile properties with ultimate high-quality processebility makes IPM series products unique & distinctive among styrenic family of polymers.

GROWTH :

Demand for ABS in the domestic as well as global markets is increasing rapidly embedded with  massive growth opportunities in the major user segments. To also keep pace with the growing demand, the installed production capacity of company has been enhanced from 51000 TPA to 80,000 TPA in March-2016 and company is further embarking upon the production capacity expansion programme upto 1,37,000 TPA by 31^st December, 2018 at the existing facility at Abu Road.

The Company have also entered into Joint Venture agreement with Nippon A & L Inc, Japan in May – 2013  and got incorporated a new entity viz. Bhansali Nippon A&L Pvt Limited in India to obtain  their technical support and sales support in specialized grade products of ABS, ASA & AES resins etc which has commenced giving good operational results.

The Company is also planning for establishing a new port based plant with minimum capacity of 2,00,000 TPA Per annum, likely to be achieved by 31.03.2022 which if materialized; will give the Company a good edge over ABS Imports and competitor(s) etc. and will boost the market share of company substantially.

Declaration : This does not constitute a BUY/SELL/HOLD Recommendation. Investors have to make their own decisions.

(Amounts in Crores)

BHANSALI ENGINEERING Q2 FY 18 Q1 FY 18 Q2 FY 17 YOY QOQ REVENUE 292.87 251.17 182.81 60.2 16.6 O.INCOME 2.04 0.83 1.33 53.38 145.78 TOTAL INCOME 294.92 251.99 184.14 60.16 17.04 EXPENSES TOTAL EXPENSES 259.08 224.27 171.06 51.46 15.52 EBITDA/PBT 35.83 27.72 13.09 173.72 29.26 TAX 10.73 10.81 4.3 149.53 -0.74 PROFIT 25.1 16.88 8.78 185.88 48.7 OTHER COMPR.INCOME -0.33 0.53 -0.14 135.71 -162.26 TOTAL COMPR.INCOME 24.77 17.42 8.64 186.69 42.19 EQUITY(FV:RS.1) 16.59 16.59 16.59 0 0 EPS 1.51 1.05 0.53 184.91 43.81
MP : 163
PE : 26.99 AS ON 26.11.17