Garware Polyester Limited today, declared excellent results for the financial year 2018-19, thanks to growth in export revenue by 20%, significant improvement in operational efficiency, prudent working capital management, revenue growth with better product mix, laying emphasis on specialty products and with emphasis on generating significant free cash from operations.
During the year under review, company’s consolidated revenue grew by 13%, at Rs 947.89 crores from the previous year’s total revenue of Rs 841.99 crores. The consolidated Earnings before Interest, Depreciation and Tax ( EBIDTA) went up by 73% from the previous year’s Rs 88.50 crores to Rs 153.07 crores.
The consolidated PBT also increased by 141% to Rs.119.88 Crores from Rs.49.83 crores for previous year.
The consolidated Net Profit after Tax Of the company for the year under review went up to Rs 81.65 crores as compared to the previous year’s Net Profit after Tax of Rs 33.12 crores, representing an improvement of 147%. The operating margins for the year under review at Rs 153.07 crores recorded an impressive margin of 16% on total revenue, as compared to previous year’s operating margin of 11%.
On standalone basis, the company reported total revenue of Rs 922.69 crores, EBIDTA of Rs 142.02 crores and PAT of Rs 74.33 crores as against the previous year’s total revenue of Rs 831.90 crores, EBIDTA of Rs 88.69 crores and PAT of Rs 33.76 crores, representing growth of 11% on total revenue, 60% improvement in EBIDTA and 120% improvement in Profit After Tax as compared to the previous year figures.
The standalone PBT also increased by 116% to Rs.109.70 Crores from Rs.50.83 crores for previous year.
Over the years, the company has been expanding its international presence in specialty product range through its own in- house technology developments in sun control films and through its enhanced presence in the international markets. These efforts have resulted in to Company reporting total international revenue on a consolidated basis at Rs 639.92 crores in the year under review, accounting for 68% of Company‘s total revenue. The international revenue on a consolidated basis saw a 20% growth in the current year, as compared to the previous year’s international revenue. The company is in the process of launching some new product range in the suncontrol film in the current financial year.
Buoyed by these excellent results, the Board Of Directors of the company have recommended a dividend of 100% as compared to the previous year’s dividend of 20% The Dividend Payout (Including Dividend Distribution Tax) Ratio for the current year works out to 37.68%.