Plastic products company Nilkamal announced Q4FY22 results: Revenue stood at Rs 2,475 crores growth of 31% Records EBIDT of Rs 229 crores for FY22, PAT of Rs 79 crores Plastics business registered volume and value growth of 12% and 32% respectively E-Commerce business stands at Rs 84 crores up by 28% @home- the retail business of the Company recorded sales of Rs 177 crores and EBIDT of Rs 10 crores Mattress business revenue stands at Rs 126 Crores up by 38% Recommends final dividend of Rs 15/- per equity share of Rs 10 each for FY 22 Result PDF
Plastic Products company Nilkamal declares Q3FY22 result: Total revenue stood at Rs 672.33 crores, YoY growth of 19 %. Records EBIDT of Rs 63.48 crores, YoY down by 35 %. Achieved PBT of Rs 31.93 crores and PAT of Rs 23.69 crores. Plastics business registered volume degrowth of 2% and value growth of 19% on YoY basis. E-Commerce sales stood at Rs 25.37 crores. The quarter witnessed a strong demand growth in its B2B business whereas the B2C business was impacted due to weak consumer demand, which led to overall degrowth of 2% in the volume terms whereas, the revenue grew by 19%. During the quarter the Company achieved net sales of Rs 672.3 3 crores (Plastic business Rs 574.05 crores, @home Rs 56.89 crores and Mattress Rs 41.39 crores) as against Rs 566.54 crores (Plastic business Rs 482.72 crores, @home Rs 53.17 croresand Mattress Rs 30.60 crores) for Q3 FY22. For the quarter, the Company has achieved EBIDTA of Rs 63.48 crores as against Rs 97.76 crores and PBT of Rs 31.92 Crores vis-a-vis Rs 69.41 crores of Q3 FY21, whereas the PAT for the period stood at Rs 23.69 Crores as against Rs 51.92 Crores for the corresponding quarter of previous year. The major factor being the continued pressure of increasing raw material costs, weaker consumer demand and increase in other operating cost due to inflationary pressure. The Capex spend for Q3 FY22 stood at Rs 49.74 Crores, with this the total capex incurred for the nine months of the current financial year stood at Rs 112.51 crores which has been majorly utilized towards Land and building, advance towards plant & Machinery, moulds and automation equipment's etc. The total Net Borrowing of the Company stood at Rs 143.80 crores as on 31st December, 2021 as against net surplus of Rs 112.18 crores as on 3st December, 2020. Nilkamal Storage Systems Private Limited- the Company's subsidiary recorded turnover of Rs 89.78 crores and achieved a profit of Rs 4.57 crores for Q3FY22 vis-a-vis Rs 58.78 crores for Q3FY21 and profit of Rs 0.57 crores. The Company's subsidiary Companies at Sri Lanka and Ajman, UAE showed a substantial improvement in performance. Cambro Nilkamal Private Limited, the Company's US Joint Venture exhibited uptrend and recorded a turnover of Rs 21.00 crores during Q3FY22 vis-a-vis Rs 10.96 Crores for Q3FY21. Result PDF
Highlights: The company has registered the highest quarterly revenue of Rs 689.01 crores in Q2FY22, up by 40% on y-o-y. Plastics business exhibits volume and value growth of 23% and 42% on y-o-y basis. @home- the retail business achieved turnover of Rs 52.38 crores and EBIDT of Rs 5. 02 crores. £-Commerce sales stood at Rs 24.21 crores, up by 16% on y-o-y. Records EBIDT of Rs 67.20 crores, down by 29% on y-o-y. Achieved PBT of Rs 36.92 crores and PAT of Rs 27.35 crores. Nilkamal Storage Systems Private Limited- the Company's subsidiary recorded turnover of Rs 66.31 crores and incurred a loss of Rs 1.07 crores for Q2FY22 vis-a-vis Rs 29.53 crores for Q2 FY21 and loss of Rs 1.01 crores. The rising raw material prices by more than 70% impacted the margins of the Company leading to losses inspite of increase in sales. The Company's subsidiary Companies at Sri Lanka and Ajman, UAE showed satisfactory performance as anticipated by the Company. Cambro Nilkamal Limited the Company's US Joint Venture exhibited uptrend and recorded a turnover of Rs 13.59 crores during Q2FY22 vis-a-vis Rs 6 Crores for Q2FY21. However, the business of the said joint venture and subsidiary companies is negligible as compared to the standalone business of the Company. For the Q2FY22, on consolidation of accounts of the subsidiaries and associates ofNilkamal, the Net Sales stood at Rs 739.38 Crore vis-a-vis Rs 534.34 Crore of corresponding quarter of previous year, up by 38%. PAT after minority interest stood at Rs 28.28 Crore as against Rs 49.57 Crore for the corresponding quarter of previous year. Result PDF
Financial Highlights (Standalone): Revenue from operations stood at Rs 449.79 crore up by 101% y-o-y. Records EBIDT of Rs 33.29 crore against EBIDT loss of Rs 6.10 crore on y-o-y. Plastics business registered volume and value growth of 74% and 105% on y-o-y. PBT stood at Rs 3.75 crore against loss of Rs 34.49 crore on y-o-y. Standalone results Q1 FY22 has been once again a challenging quarter; the recovery over the past three quarters got undone with the second wave of COVID-19 which again led to restrictions and full or partial lockdowns, which resulted in loss of the B2C & retail businesses of the Company for a substantial period of the quarter. This has led to an overall degrowth of 26% in the business of the Company against the preceding quarter. This resultant loss of sales, led to decrease in profits by 90% compared to preceding quarter. Further the raw material prices increased to the extent of 27% since December, 2020 in a phased manner. The leadership position enjoyed by the Company in the business in which it operates helped the Company to pass on the said price increase to the extent of 85% with a time lag of couple of months. For the quarter ended June 30, 2021, Revenue from operations has increased by 101% to Rs 449.79 crore from Rs 223.48 crore. PBT for the quarter was Rs 3.75 crore as against loss of Rs 34.49 crore in the previous corresponding period. The sales of the Company's plastic business stood at Rs 412.79 crore whereas the retail business '@home' stood at Rs 18.67 crore against Rs 199.83 crore and Rs 15.39 crore respectively. Further the mattress business achieved sales of Rs 14.34 crore as against Rs 7.27 crore. While the sales of Bubble-guard stood at Rs 3.99 crore vis-a-vis Rs 0.98 crore. In order to achieve its growth plans as well as for further building its competitive advantage in the business in which it operates, the Company estimates a total Capital expenditure of approx. Rs 245 crore during FY 21-22. The said expenditure shall be towards putting up: greenfield plant in southern India for manufacturing of Foam, Mattress, sofa and plastic moulded articles. building of regional warehouses in south and north. increasing injection moulding manufacturing capacity by more than 10,000 MTP A across various manufacturing facilities of the Company. introduction of various new range of designs and products to cater to the need of market and customers for its racking & storage, Bubble Guard and modular & metal furniture businesses. The said capex will be funded majorly from the internal accruals and generations of the Company. During Q1 FY22, the Capex spend of the Company stood at Rs 27.27 crore. Consolidated results The business operations of the Subsidiary & Joint venture Companies showed an uptrend, however, the business of the said Joint Venture and Subsidiary Companies is negligible as compared to the standalone business of the Company. Nilkamal Storage Systems Private Limited (formerly known as Nilkamal Bito Storage Systems Private Limited)- the Company's wholly owned Indian subsidiary recorded turnover of Rs 49.37 crore for Q1 FY22 vis-a-vis Rs 21.63 crore for Q1 FY21. It has incurred a loss of Rs 1. 98 crore for Q1 FY22 vis-a-vis Rs 1.71 crore for Q1 FY21. The said loss is mainly on account of increase in steel prices by approx. 50%, however, the Company expects to recover its losses and achieve profit during the current financial year. The Company's subsidiary Company at Sri Lanka and Ajman, UAE also showed a growth in its performance. Further Cambro Nilkamal Private Limited- the Company's US Joint Venture has recorded a turnover of Rs 8.89 crore during Q1 FY22 vis-a-vis Rs 2.97 crore for Q1 FY21. Result PDF