Indo Rama Synthetics (India) Ltd.’s net revenue for the quarter ended March 31, 2015, stood at Rs. 650.73 crores as against Rs. 695.46 crores of Q4 of the previous year. The operational EBIDTA for the period stood at Rs. 51.40 crores (Rs. 0.24 crores). The cash profit for the quarter was Rs. 68.61 crores (Rs. 43.68 crores).
For the financial year ended March 31, 2015, the net revenue stood at Rs. 2,761.38 crores as compared to Rs. 2,637.45 crores in the previous year. The operational EBIDTA was Rs. 122.44 crores (Rs. 8.91 crores), while the cash profit was Rs. 83.14 crores (Rs. 109.85 crores).
Commenting on the company’s performance, Mr. O.P. Lohia, Chairman & Managing Director, Indo Rama Synthetics (India) Ltd., said: “The polyester industry saw lots of ups and downs during the financial year, including shortage of raw material, inventory losses due to unprecedented and an exceptional fall in crude oil prices and the consequential raw material and finished goods prices, currency volatility and the adverse civil and economic condition in the European region and Central Asia, which is a big market for the Indian polyester industry. All this adversely impacted exports. Moreover, the Government had levied anti-dumping duty on PTA, making the raw material expensive. This resulted in shortage of raw material and therefore lower capacity utilization. However, now, with the lower raw material and finished goods price and increase in demand, we are achieving higher capacity utilization. We are quite buoyant that the overall positivity in the market sentiment and demand will help the company to be back on the growth trajectory in the current financial year.”