PPAP Automotive Limited FY17 PAT up by 86.81% at Rs. 26.21 crore

Standalone Results

For the Quarter ended March 31, 2017 (Q4FY17):

  • Total Income stood at Rs. 95.50 crore, up by 23.91% y-o-y
  • EBITDA of Rs. 20.30 crore; y-o-y growth of 57.61%
  • Net Profit stood at Rs. 8.74 crore; y-o-y growth of 106.13%
  • EPS for Q4FY17 stood at Rs. 6.24, as compared to Rs. 3.03 for Q4FY16

Consolidated Results

For the Year ended March 31, 2017 (FY17):

  • Total Income stood at Rs. 366.11 crore, up by 14.90% y-o-y
  • EBIDTA of Rs. 68.90 crore, y-o-y growth of 30.07%
  • PAT of Rs. 26.21 crore, up by 86.81%
  • EPS for FY17 stood at Rs. 18.72, as compared to Rs. 10.02 for FY16

Mumbai, May 23, 2017: PPAP Automotive Limited (PPAP), a leading manufacturer of Automotive Sealing Systems, Interior and Exterior Automotive parts, today declared its financial results for the fourth quarter and full year ended March 31, 2017.

The company reported Net Profit of Rs. 8.74 crore for Q4FY17, up by 106.13%, as compared to Rs. 4.24 crore in the corresponding quarter of last fiscal.The company’s Q4FY17 PAT margin stood at a robust 9.15%, as compared to 5.50% in Q4FY16.

Total Income for the quarter ended March 31, 2017 stood at Rs. 95.50 crore, up by 23.91%, as compared to Rs. 77.07 crore in the same period last year. PPAP’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY17 stood at Rs. 20.30 crore, up 57.61%. The company’s EBITDA margin improved from 16.71% in Q4FY16 to 21.26% in Q4FY17.

Earnings per share (EPS) for the quarter ended Q4FY17 stood at Rs. 6.24, as compared with Rs. 3.03 for the quarter ended Q4FY16.

For the full year ended March 31, 2017, PPAP’sConsolidated Net Profit jumped by 86.81% to Rs. 26.21 crore, as compared to Rs. 14.03 crore of the year ago period. The Consolidated PAT margin improved to 7.16% in FY17 from 4.40% in FY16.

The Consolidated Total Income stood at Rs. 366.11 crore, up by 14.90%, as compared to Rs. 318.63 crore in FY16. The company registered a Consolidated EBITDA ofRs. 68.90 crore in FY17, up by 30.07%, as compared to Rs. 52.97 crore in FY16. The company’s Consolidated EBITDA margin improved from 16.62% in FY16 to 18.82% in FY17.

For FY17, Consolidated EPS stood at Rs. 18.72 as against Rs. 10.02 in FY16.

The Board of Directors has recommended a final dividend of Rs. 1.75 per share (i.e. 17.5% on equity share of Rs. 10 each) for FY17.

In its continuous process to add new customers and to expand product portfolio, the company has recently added Hyundai Motor India Limitedas a new customer. It would be manufacturing automotive sealing parts like outer belts for them.

The company has recently been awarded with the following awards from its customers:

Maruti Suzuki India Limited

  • Overall Performance Award Shield by Maruti Suzuki India Limited
  • Certificate in Safety by Maruti Suzuki India Limited
  • Certificate in Best HR Practices by Maruti Suzuki India Limited

Honda Cars India Limited

  • Environment Award 2017 (Co2 Reduction) by Honda Cars India Limited
  • Bronze award in the category of Spare Parts by Honda Motors India Private Limited
  • Second runner up in the National Level Quality Circle competition organized by Honda Cars India Suppliers Club

The Company has also been awarded The Machinist Super Shopfloor Awards 2017 in the Productivity category

Commenting on the financial performance of the company Mr. Ajay Kumar Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, “The trend of the demand for automobiles by the Indian consumers continues to be buoyant as is reflected by our higher sales. Our continuous efforts towards increasing the operational efficiencies are leading to improvements in our company’s bottom line.”

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.

Please click below link to view entire report:

PPAP Automotive_Q4 Earnings Release