HCP Plastene Bulkpack Reports Robust Q1 Results, Appoints New Executive Director
HCP Plastene Bulkpack Limited announced robust Q1 financial results with significant growth. Standalone revenue increased to ₹61.52 crore from ₹19.07 crore year-over-year. Consolidated revenue reached ₹125.75 crore, up from ₹104.70 crore, while consolidated net profit rose to ₹40.09 crore from ₹14.48 crore. The company operates in Woven Sacks and Label divisions. Mr. Aman Parekh was appointed as Additional Executive Director, effective August 12.
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HCP Plastene Bulkpack Limited has announced strong financial results for the first quarter, demonstrating significant growth in both standalone and consolidated operations. The company has also appointed a new Additional Executive Director, signaling a strategic move in its leadership structure.
Financial Highlights
Standalone Performance
HCP Plastene Bulkpack's standalone revenue from operations surged to ₹61.52 crore, marking a substantial increase from ₹19.07 crore in the same quarter last year. However, net profit saw a slight decrease to ₹6.98 crore, compared to ₹7.80 crore in the previous year's corresponding quarter.
Consolidated Results
On a consolidated basis, the company's performance was even more impressive:
- Revenue from operations reached ₹125.75 crore, up from ₹104.70 crore in the same quarter of the previous fiscal year
- Consolidated net profit attributable to owners soared to ₹40.09 crore, compared to ₹14.48 crore in the same period last year
Segment-wise Performance
HCP Plastene Bulkpack operates through two primary segments:
- Woven Sacks Division: This segment continues to be the major revenue generator for the company.
- Label Division: Contributing a smaller but significant portion to the overall revenue.
Key Financial Metrics (Standalone)
| Particulars (₹ in Crore) | Q1 Current | Q1 Previous | YoY Change |
|---|---|---|---|
| Revenue from Operations | 61.52 | 19.07 | 222.60% |
| Net Profit | 6.98 | 7.80 | -10.51% |
| EPS (Basic & Diluted) (₹) | 0.65 | 0.73 | -10.96% |
Leadership Update
In a significant development, the Board of Directors has approved the appointment of Mr. Aman Parekh as an Additional Executive Director. Mr. Parekh, who holds a Bachelor of Engineering degree from the University of Manchester, is the son of the company's Managing Director, Mr. Prakash Hiralal Parekh. This appointment is effective from August 12, and is seen as a move to strengthen the company's executive team.
Company Overview
HCP Plastene Bulkpack Limited, with its registered office in Ahmedabad, Gujarat, specializes in the manufacturing of woven sacks and labels. The company's paid-up equity share capital stands at ₹10.67 crore, with shares having a face value of ₹10 each.
The robust financial performance, particularly in the consolidated results, reflects HCP Plastene Bulkpack's strong market position and operational efficiency. The significant increase in revenue and profitability on a consolidated basis indicates successful integration of its subsidiary operations and effective market strategies.
As HCP Plastene Bulkpack Limited continues to grow, the appointment of Mr. Aman Parekh to the executive team suggests a focus on bringing fresh perspectives to the company's leadership, potentially driving further innovation and growth in the coming quarters.
Historical Stock Returns for HCP Plastene Bulkpack
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.29% | -0.27% | +4.12% | +62.85% | +11.35% | +904.03% |
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