Ballarpur Industries Limited Unaudited financial results for H1 FY 2008 - 2009
BILT H1 FY 2009 PAT at Rs. 1265 million; BILT H1 FY 2009 PBT at Rs. 1627 millionBILT H1 FY 2009 Revenues at Rs 14181 million BILT H1 FY 2009 Paper Revenues increase 10.64 % to Rs. 12842 million
Tweet-- Ballarpur Industries Limited (BILT) today announced its financial and operating results for H1 FY 2009 and Q2 FY 2009.
*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the half-year and second quarter of Fiscal 2009.
BILT (H1 FY 2008 v/s H1 FY 2007)
· Paper Revenues increase 10.64% to Rs 12842 million compared with Rs 11607 million. Total Revenue at Rs. 14181 million compared with Rs 13501 million.
· PBIDT at Rs 3500 million vis-a-vis Rs 3550 million.
· PBT at Rs 1627 million vis-a-vis Rs 1841 million.
· PAT at Rs 1265 million vis-a-vis Rs. 1462 million.
· Fully Diluted EPS higher by 22 % at Rs 1.80 compared with Rs. 1.48.
BILT (Q2 FY 2009 v/s Q2 FY 2008)
· Consolidated Gross revenues (before Inter Segment Sale) for the quarter was Rs.6812 million as against Rs.7040 million for the corresponding quarter in the previous year.· Net sales (Post Intersegment Sales) for the quarter ended Dec 31,2008 was Rs. 6463 million as against Rs.6924 million for the corresponding quarter in the previous year.The reconciliation of the same is as follows:(a) The paper revenue in India has increased by Rs. 666 million (14%) during the quarter compared to the corresponding quarter in the previous year.(b) However, there has been a dip in revenue of Rs. 848 million in unit Kamalapuram on account of Paper Pulp production for part of the quarter on account of sluggish demand for Rayon Grade Pulp. This trend is expected to continue in the ensuing quarter also.(c) Due to slow down for paper demand in Malaysia the off take of paper during December 2008 was slow. This coupled with the drop in selling prices of paper to 781 USD (average) for the quarter from 839 USD for the same in the previous year. The average drop in revenue during the quarter was Rs. 287 million.The demand is expected to pick up post Chinese New Year.· The Consolidated EBIDTA for the quarter was Rs.1668 million as against Rs.1810 million in the corresponding previous quarter.
While the EBIDTA for the domestic paper business increased to Rs.1511 million (28%) from Rs.1314 million (27%) during the corresponding quarter in the previous year.
The drop in consolidated EBIDTA is mainly on account of
(a) The drop in EBIDTA by Rs.215 million in unit Kamalapuram.
(b) The drop in EBIDTA by Rs.97 million in SFI.
The overall EBIDTA margin for the current quarter was 25.6% as against 26.1% for the corresponding quarter in the previous year. The domestic EBIDTA margin was 28% as against 27% in the previous year.
EBIDTA for the half year ended 31st Dec, 08 was Rs.3518 million as against Rs. 3625 million in the previous half year.
· PBT for the quarter was Rs. 683 million as against Rs.919 million and the same for the half year ended 31st Dec,08 was Rs. 1627 million as against Rs.1841 million.
· PAT for the quarter was Rs. 501 million as against Rs.731 million.
Operating overview· Total paper production of 302442 MT in H1 FY 2009 compared to 295533 MT in H1 FY 2008.
· Total paper production of 150629 MT in Q2 FY 2009 compared to 150505 MT in Q2 FY 2008.
· Total paper sales of 285176 MT in H1 FY 2009 compared with 294866 MT in H1 FY 2008.
· Total paper sales of 136516 MT in Q2 FY 2009 compared with 150735 MT in Q2 FY 2008.
Ballarpur Industries Limited
Ballarpur Industries Limited (BILT), part of the US$ 3 billion Avantha Group, is India’s largest manufacturer of writing and printing paper. Subsidiaries include Sabah Forest Industries, Malaysia’s largest pulp and paper company, and BILT Tree Tech Limited (BTTL), which runs BILT’s farm forestry programme in India. Ranked among the global top 100, BILT has seven manufacturing units.
In India, BILT has a dominant share of the high-end coated paper segment, with over 50% of the coated wood-free paper market, 85% of the bond paper market and nearly 45% of the hi-bright Maplitho market.
Some of BILT’s leading brands include Royal Executive Bond, BILT Matrix and BILT Ten on Ten.
Avantha
The US$ 3 bn Avantha Group is one of India’s leading business conglomerates. Its successful entities include BILT, Crompton Greaves, The Global Green Company, Avantha Power & Infrastructure, Solaris ChemTech, Salient Business Solutions, and Avantha Technologies. International subsidiaries include Pauwels, SFI, Intergarden, Ganz, Microsol, Sonomatra, MSE Power Systems and Puszta Konzerv.
The Group has business interests in diverse areas including power transmission and distribution equipment and services, paper and pulp, energy and infrastructure, food processing, farm forestry, chemicals, IT and ITES. Led by Gautam Thapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.