BHANSALI ENGINEERING POLYMERS LIMITED - RESULTS FOR Q3 FY 17-18 - Q/E DEC'2007

BHANSALI ENGINEERING POLYMERS LIMITED

RESULTS FOR Q3 FY 17-18

Q/E DEC'2007

BHANSALI ENGINEERING POLYMERS has declared excellent Results for the third quarter ending December'2017. The results are here under.

BHANSALI has also chalked up impressive expansion plans for the future.

The company says the following in its Results :

1. The effort to tie up Technology and selecting the Port-based Green field project location is shaping up fast.

2.Captive manufacturing programme for HRG and Bulk SAN at this location will be based on state of the Art technology. substantial savings in logistic cost and benefit of economies of scale result in cost and quality competitiveness against International Giants in ABS manufacturing field.

3. This project is likely to be commissioned by 31.03.2021 (and not 2022 envisaged earlier).

4.At Abu Road, - capacity expansion will be - (i) 100 KTPA ABS capacity to be completed by 31.03.2018 at Rs.20 Crores. (ii) 137 KTPA by 31.12.2018 at Rs.30 Crores. Total Rs.50 Cr.

5. Growth momentum minimum at 15% CAGR beyond 2019 - through imports

6. R&D centre at Abu Road is likely to be completed by 31.12.2018 at Rs.20 cr. Later, it will be shifted to New R&D cemtre at Port based location.

All this indicates that company's expansions will be continuous and will cater to all domestic needs in future, import substitution and potentially, exports to other countries also later in the future.

BHANSALI ENGG	Dec '17	Sep '17	Jun '17	Mar '17	Dec '16	YOY	QOQ
Net Sales	257.93	247.94	224.03	192.73	122.95	109.78	4.03
Other Operating Income	--	--	--	0.12	--
Total Income	257.93	247.94	224.03	192.84	122.95	109.78	4.03
EXPENDITURE
Raw Materials	147.31	142.53	152.55	158.63	113.44	29.86	3.35
Traded Goods	35.99	13.68	4.16	--	--		163.08
Increase in Stocks	-0.11	22.08	11.34	-13.8	-22.98	-99.52	-100.5
Employees Cost	10.83	8.91	7.8	8.54	6.2	74.68	21.55
Depreciation	1.55	1.54	1.52	1.37	1.37	13.14	0.65
Other Expenses	20.61	22.93	18.65	17.55	17.18	19.97	-10.12
P/L Before Other Inc. , Int., Excpt. Items & Tax	41.76	36.27	28.01	20.55	7.74	439.53	15.14
Other Income	5.56	2.04	0.83	6.39	0.44	1163.64	172.55
P/L Before Int., Excpt. Items & Tax	47.32	38.32	28.84	26.94	8.18	478.48	23.49
Interest	2.25	2.48	1.11	2.61	2.29	-1.75	-9.27
P B T	45.08	35.83	27.73	24.33	5.9	664.07	25.82
Tax	16.02	10.73	10.84	9.26	2.84	464.08	49.3
Net Profit	29.06	25.1	16.88	15.06	3.06	849.67	15.78
Equity	16.59	16.59	16.59	16.59	16.59	0	0
Basic EPS	1.75	1.51	1.05	0.91	0.18	872.22	15.89
Diluted EPS	1.75	1.51	1.05	0.91	0.18	872.22	15.89
MP	195.7
PE	27.96

Note : This does not constitute a BUY / SELL / HOLD RECOMMENDATION

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