Garware Polyester standalone Q2 PBT at ₹61.30 Cr

Mumbai: Garware Polyester Ltd. (GPL), the flagship company of the Garware Group and a leading player in specialty Polyester Films in India declared its results for the quarter ending sept 30, 2020 on November 10th,2020.

Highlights for Standalone Q2 FY’21 (July-September’20)
•    Total Revenue – ₹254.15 Crore, a growth of 6% over the corresponding quarter in the previous fiscal
•     Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the quarter stood at ₹ 72.22 cr (vs ₹44.91 Cr in Q2 FY’20) reflecting 28.4% EBITDA margin.
•     Net Profit for the period after tax at ₹39.38 Cr (vs ₹23.28 Cr in Q2 FY’20)
•     Earning per share (EPS) at ₹16.95, up by 69% over the corresponding quarter in FY 2019-20

Total expenses as at September 30, 2020 is ₹192.85 Cr, down by 5.3% over the quarter ended September 30, 2019. Operating EBITDA has increased by 111% from ₹34.23 Cr (Q1, FY 2020-21) to ₹72.22 Cr. The company reported PBT of ₹61.30 Cr for the quarter ended compared to ₹36.14 Cr for the quarter ended September 30, 2019. Consolidated Total income and PAT stood at ₹252.07 Cr and ₹37.76 Cr respectively for the quarter.

Commenting on the results, Mr. S.B. Garware, Chairman and Managing Director, GPL, said, “We are extremely satisfied with our strong second-quarter performance. Consistent improvement in our operating metrics reflects our relentless rigor of execution, which has resulted in PBDT Margin reaching 26.4% in quarter 2 FY21. We have invested out of planned investments to the tune of ₹47.78 crore as on 30th sept 2020. Our focus now is on growth in this fiscal and beyond. We see a strong and secure future for the organization given this growth approach.”