Website: http://economictimes.indiatimes.com/news/news-by-company/earnings/earningsnews/pitamal-glass-net-at-rs-266-cr/articleshow/7328001.cms
Headline: Pitamal Glass net at Rs 26.6 cr
Piramal Glass Limited(PGL), a leading global manufacturer of glass containers today reported its beat
ever quarter with a massive 135 per cent rise in consolidated net profit at Rs 26.6 crore for the
December quarter.
The consolidated sales were Rs 311 crore, up 10.2 per cent while EBIDTA was Rs 78.4 crore, up 31.3 per
cent.
In a press release issued here today, Ajay Piramal , Chairman, Piramal Group said, "It is heartening to see
Piramal Glass achieve its best quarter ever. We are witnessing a shift in the global glass packaging
ecosystem. Emerging economies are expected to drive the global glass industry. Global majors are
shifting their packaging to India and PGL is geared up to respond to this," Piramal said .
Piramal Glass, (erstwhile Gujarat Glass Limited) is a leading global manufacturer of flaconnage (glass
containers) for pharmaceuticals, foods and beverages, cosmetics and perfume industries.
The Company had revenues of Rs 1,100 crore in FY2010. The company has a global footprint, with
manufacturing facilities located in USA, Sri Lanka and India. The Company markets its products to more
than 54 countries and is also the largest producer of nail-polish bottles globally, with more than 30 per
cent market share.
Website: http://www.business-standard.com/india/news/piramal-glass-q3-net-rises-135-tors-266-cr/422388/
Headline: Piramal Glass Q3 net rises 135% to RS 26.6 cr
Piramal Glass Limited, (PGL) (NSE: PIRGLASS, BSE: 532949), a Piramal Group company and a
leading global manufacturer of flaconnage (glass containers) for Cosmetics & Perfumery
(C&P), Specialty Foods& Beverages (F&B) and Pharmaceuticals industry today reported its
best quarterever while announcing its third quarter (Q3) of FY2011 results.
PGL reported a consolidated net profit of Rs. 26.6 crores – a growth of 135%. The key
contributors to this are consolidated sales of Rs.311 crores – a growth of 10.2% and EBIDTA of
Rs. 78.4 crores – an increaseby 31.3%. The EBITDA Margin for the same quarter improved to
25.3% - an improvement of 410 bps.
Ajay Piramal, Chairman, Piramal Group said, “It is indeed heartening to see Piramal Glass
achieve its best quarter ever. A PAT and EBIDTA rise of 135% and 31.3% respectively bear
testimony to this. We are witnessing a shift in the global glass packaging ecosystem. Emerging
economies are expected to drivethe global glass industry. Global majors are shifting their
packaging to India and PGL is geared up to respond to this.”
Vijay Shah, Managing Director Piramal Glass said, “Our unique product mix with a focus on
Cosmetics & Perfumery is driving our growth and profits. Cosmetics & Perfumery grew to 32%
of the total sales. The premium subcategory grew by 50% contributing Rs.80 crores to the
consolidated sales. This result is a vindication of our strategic investments so far. We are
keen to end the year on a high.”
9 months result
Consolidated sales for the 9 months ended 31 December 2010 grew by 8.5% to Rs.890 crores.
EBIDTA grew by 35% to Rs.216 crores. EBIDTA Margin had an improvement of 470 bps to
24.3%.
The biggest turnaround was seen in Profit After Tax, which swung to Rs.67.5 crores from a
loss of Rs.9 crores in the same period last year. Annualized EPS is at Rs.11.2 and Cash EPS is
at Rs.24.3. Annualized Return on Capital Employed (ROCE) is at 13.9% and Return on Equity
(ROE) is at 25.3% for the same period.
Website: http://indiaearnings.moneycontrol.com/sub_india/compnews.php?autono=514872
Headline: Expect margins to improve ahead: Piramal Glass
In an interview with CNBC-TV18’s Sonia Shenoy, Ajay Piramal, Chairman, Piramal Glass, spoke
about the results and his outlook for the company.
Here is a verbatim transcript of the exclusive interview with Ajay Piramal on CNBCTV18. Also watch the accompanying video.
Excerpts from Business Lunch on CNBC-TV18 Watch the full show »
Q: Could you start off by outlining the highlights this quarter and how have you looked in
various segments?
A: As far as Piramal Glass’ results are concerned, our sales have gone up by 10% in this
quarter compared to the same period last year and they are at Rs 311 crore. On a nine-month
basis our sales have gone up by 8.5% to Rs 890 crore. If I take the same level of foreign
exchange at the same rate then the growth is 12.5% on the top-line.
But what is more important is that our earnings before interest, taxes, depreciation, and
amortization (EBITDA) has gone up, the EBITDA growth in this quarter has been 31.3%
compared to the same quarter last year and for the nine months the growth is at 35%. So, our
EBITDA level for the consolidated nine months is Rs 216 crore. We have also seen an overall
improvement in profit after tax which has gone up to Rs 26.6 crore in this quarter and at Rs
68 crore on a consolidated basis.
So, on a consolidated basis, the profit after tax has gone up from a loss of Rs 9 crore last year
to a profit of Rs 67 crore in this year. So, we are seeing consistently for the last five quarters,
we are making better and better results with EBITDA margins going up by 410 bps and
similarly seeing an increase in PAT.
Q: What about cosmetics and perfumery segment because about 45% of your turnover
comes from there and that seems to a high growth segment for Piramal Glass? What kind
of a growth are you expecting in that particular segment, what have you done for the
quarter ad going into the next fiscal what is the trajectory looking like?
A: The cosmetics and perfumery sales now as a percentage of total sales is now 49% and the
growth in this segment has been about 32%. We are continuing to grow in this sector. Over a
period of time you will see that that we are increasing the capacity as well. Therefore, this
growth rate we expect to continue next year onwards as well. This means that this is a higher
margin business and therefore you can also see that the margins have expanded.
Q: Are you planning to beef up your European and US presence in this segment and what
kind of guidelines you can give us with reference to both of those geographies?
A: Our sales in the US are going up as well as our global sales are going up. The production in
the US is not going up. Over a period of time, we are going to show some of the production
into India as well because of high cost of operating in the US.
Q: There was some news that you are bidding for some projects from IRB, is there any
truth to that?
A: No, there are so many speculations, rumours going on that I don’t want to comment on any
such.
Q: Can you tell us what kind of operating profit margins you can hold up at? This quarter
you stayed at 20% figure plus but for the next fiscal i.e. FY12, what operating profit
margins can you maintain?
A: This quarter we have got about 25.3% margins. Whereas we will give an indication of the
next year later on, but I think we will only be able to improving these margins as our shift to
cosmetics and perfumery (C&P) continues as well as we are getting more operating
efficiencies, this will continue.
Q: A word on the acquisition that you made in the C&P space, you have been doing that
for a while, anything else on the anvil that you are looking at?
A: Nothing that I can talk about today.
Website: http://www.indiainfoline.com/Markets/News/Piramal-Glass-Q3-net-profit-up-135percent/5058401887
Headline: Piramal Glass Q3 net profit up 135%
The EBITDA Margin for the same quarter improved to 25.3% - an improvement of 410 bps.
Piramal Glass Limited, a Piramal Group company and a leading global manufacturer of flaconnage (glass
containers) for Cosmetics & Perfumery (C&P), Specialty Foods & Beverages (F&B) and Pharmaceuticals
industry today reported its best quarter ever while announcing its third quarter (Q3) of FY2011 results.
PGL reported a consolidated net profit of Rs. 266mn – a growth of 135%. The key contributors to this are
consolidated sales of Rs.3.11bn – a growth of 10.2% and EBIDTA of Rs. 784mn – an increase by 31.3%.
The EBITDA Margin for the same quarter improved to 25.3% - an improvement of 410 bps.
Ajay Piramal, Chairman, Piramal Group said, “It is indeed heartening to see Piramal Glass achieve its best
quarter ever. A PAT and EBIDTA rise of 135% and 31.3% respectively bear testimony to this. We are
witnessing a shift in the global glass packaging ecosystem. Emerging economies are expected to drive the
global glass industry. Global majors are shifting their packaging to India and
PGL is geared up to respond to this.”
Vijay Shah, Managing Director Piramal Glass said, “Our unique product mix with a focus on Cosmetics &
Perfumery is driving our growth and profits. Cosmetics & Perfumery grew to 32% of the total sales. The
premium subcategory grew by 50% contributing Rs. 80 crores to the consolidated sales. This result is a
vindication of our strategic investments so far. We are keen to end the year on a high.”
9
Months
Result
Consolidated sales for the 9 months ended 31 December 2010 grew by 8.5% to Rs.8.9bn. EBIDTA grew by
35% to Rs. 216 crores. EBIDTA Margin had an improvement of 470 bps to 24.3%.
The biggest turnaround was seen in Profit After Tax, which swung to Rs. 67.5 crores from a loss of Rs. 9
crores in the same period last year. Annualized EPS is at Rs. 11.2 and Cash EPS is at Rs. 24.3. Annualized
Return on Capital Employed (ROCE) is at 13.9% and Return on Equity (ROE) is at 25.3% for the same
period.
Website: http://www.moneylife.in/article/8/13301.html
Headline: Piramal Glass Q3 net profit rises to Rs18.61 crore
Piramal Glass Ltd (PGL) said its standalone net profit for the December 2010 quarter stood at
Rs18.61 crore compared to Rs10.87 crore in the corresponding quarter last year.
During the December 2010 quarter, its total income increased to Rs199 crore from Rs174.08
crore, said the company in a statement.
On Thursday, PGL ended 5% up at Rs110.30 on the Bombay Stock Exchange, while the
benchmark Sensex gained 0.36% to 19,046.54 points.
Website: http://print.dailymirror.lk/business/127-local/33541.html
Headline: Piramal Glass Ceylon reports best quarter ever
Piramal Glass Ceylon Plc (PGC), a manufacturer of flaconnage (glass containers) for food and
beverages, pharmaceuticals, cosmetics & perfumery, has reported its best quarter ever to
date. Net sales for the quarter ending 31st December, 2010 grew by 28% to Rs. 1,166 million,
while gross profits grew by 38% to Rs. 360 million and Net profit for the period was Rs. 190
million.
PGC's Chief Executive Officer and Executive Director, Sanjay Tiwari while announcing PGC's
results said, "We're proud to report the best ever quarter for PGC. This quarter has vindicated
our investments and hard work. We have invested in some strategic initiatives in the last few
years and put in a lot of effort in turning around PGC. We have improved our manufacturing
efficiency and realigned our portfolio offerings.
We have put a major onus on manufacturing excellence with a view to achieving Six Sigma
and the Global implementation of SAP. As a result, we have achieved 84% production
efficiency".
The third quarter was an exceptional one for the company with the festive season playing a
positive indicator towards high domestic sales which grew by 35% from Rs. 663 million to 898
million, while exports increased by 11% from Rs. 244 million to Rs. 269 million. A significant
volume growth of 9% was also a highlight for the quarter.
According to Tiwari, the export market played a significant role during the Quarter with sales
consisting predominantly of the high realization, specialty segment, which contributed to
better margins and an increased bottom line. The high realization segment consisted of 71%
of the Quarter's export volume, which in turn helped the overall export realizations to grow
by over 50% per ton, against that of the similar period of the previous year.
The Total Revenue for the nine months ending 31st December, 2010 grew by 15% to Rs.3,061
million. The Gross Profit [GP] ratio increased to 32% this year as against 27% during the similar
period of the previous year. The company achieved a Gross Profit of Rs.972 million for the
first 9 months of the FY2011 as against Rs.705 million during the same period of the previous
year. The company crossed the Rs. 400 million mark in Profit After Tax for the period as
against a loss of Rs. 89 million during the same period of the previous year.
A combination of robust domestic and export sales across the first 9 months of FY2011 saw
PGC achieve Rs.2,308 million and Rs.753 million respectively in both markets. PGC has
demonstrated its continuing focus on the specialty market with outstanding export figures.
With a tonnage of 7,567 and a value of Rs. 539 million, PGC has once again proved its
capability and intent in expanding its export offerings in niche markets.
The productivity improvements too played their part by reducing production costs. During this
period the company was able to produce 12% more than the similar period of the previous
year.
The continuous achievements of Piramal Glass Ceylon during the FY 2010 was also recognized
by external agencies with the company being awarded a Gold Medal at the NCE Export Awards
in the Extra Large Category and a Merit Award at the CNCI Achievers of Industrial Excellence.
A Gold Award in the Manufacturing sector and a Silver Award in the Best Tech Savvy Company
segment at the National Business Excellence awards was yet another achievement. "We are
indeed thrilled at the performance of Piramal Glass Ceylon and we are confident that the
growing domestic markets coupled with that of niche exports, the company's continuous strive
for excellent performance, as well as the commitment and investment that we made in last
few years have showed fruition" said Chairman of Piramal Glass Ceylon Plc, Mr.Vijay Shah.
Website: http://in.finance.yahoo.com/news/Pitamal-Glass-net-profit-135-pti650032278.html?x=0
Headline: Piramal Glass net profit up 135 pc at Rs 26.6 cr
Piramal Glass Limited(PGL), a leading global manufacturer of glass containers today reported
its beat ever quarter with a massive 135 per cent rise in consolidated net profit at Rs 26.6
crore for the December quarter.
The consolidated sales were Rs 311 crore, up 10.2 per cent, while EBIDTA was Rs 78.4 crore,
up 31.3 per cent.
In a press release issued here today, Ajay Piramal, Chairman, Piramal Group said, "It is
heartening to see Piramal Glass achieve its best quarter ever. We are witnessing a shift in the
global glass packaging ecosystem.
Emerging economies are expected to drive the global glass industry. Global majors are
shifting their packaging to India and PGL is geared up to respond to this," Piramal said.
Piramal Glass, (erstwhile Gujarat Glass Limited) is a leading global manufacturer of
flaconnage (glass containers) for pharmaceuticals, foods and beverages, cosmetics and
perfume industries.
The company had revenues of Rs 1,100 crore in FY2010. The company has a global footprint,
with manufacturing facilities located in USA, Sri Lanka and India. The company markets its
products to more than 54 countries and is also the largest producer of nail-polish bottles
globally, with more than 30 per cent market share.
Website: http://www.indiareport.com/India-usa-uk-news/latestnews/981548/Business/4/30/4
Headline: Pitamal Glass net profit up 135 pc at Rs 26.6 cr
Piramal Glass Limited(PGL), a leading global manufacturer of glass containers today reported
its beat ever quarter with a massive 135 per cent rise in consolidated net profit at Rs 26.6
crore for the December quarter.
The consolidated sales were Rs 311 crore, up 10.2 per cent, while EBIDTA was Rs 78.4 crore,
up 313 per cent
In a press release issued here today, Ajay Piramal, Chairman, Piramal Group said,"It is
heartening to see Piramal Glass achieve its best quarter ever. We are witnessing a shift in the
global glass packaging ecosystem.
Emerging economies are expected to drive the global glass industry. Global majors are
shifting their packaging to India and PGL is geared up to respond to this,"Piramal said.
Piramal Glass, (erstwhile Gujarat Glass Limited) is a leading global manufacturer of
flaconnage (glass containers) for pharmaceuticals, foods and beverages, cosmetics and
perfume industries.
The company had revenues of Rs 1,100 crore in FY2010. The company has a global footprint,
with manufacturing facilities located in USA, Sri Lanka and India. The company markets its
products to more than 54 countries and is also the largest producer of nail-polish bottles
globally, with more than 30 per cent market share.
Website: http://www.financialhub.in/tag/leading-global-manufacturer
Headline: Pitamal Glass net at Rs 26.6 cr
Piramal Glass is a leading global manufacturer of flaconnage (glass containers) for
pharmaceuticals, foods and beverages, cosmetics and perfume industries.