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HSIL stock zooms 15% as net profit rises multifold in Q4

The stock has gained 295.75 per cent in one year and risen 64.5 per cent since the beginning of this year

twitter-logoBusinessToday.In | May 11, 2021 | Updated 14:21 IST
The stock has gained 295.75 per cent in one year and risen 64.5 per cent since the beginning of this year.
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 Shares of HSIL jumped over 15 per cent after the company reported a multifold growth in net profit to Rs 33 crore for the quarter ended March 31. Profit in the year-ago period stood at Rs 3.38 crore.

The stock touched an intraday high of 199.90, rising 15.5 per cent. The stock has gained 295.75 per cent in one year and risen 64.5 per cent since the beginning of this year. Market cap of the firm rose to Rs 1,266.13 crore.

Revenue from operations grew 37 per cent to Rs 633.21 crore in the last quarter against Rs 461 crore a year ago. The packaging products division reported revenue of Rs 418 crore, contributing 66 per cent to the total revenues. Building Products Division delivered revenue of Rs 216 crore, registering a growth of 59.7 per cent.

The company said the packaging products division witnessed increased demand for glass bottles from multiple user segments thereby driving better volumes.

For FY21, revenue from operations marginally declined to Rs 1,852.59 crore from Rs 1,859.07 crore in the previous year. The company also repaid the total debt of Rs 93.3 crore and also utilized cash of Rs 78.4 crore towards the buyback of shares.

"Despite nation-wide lockdown at the beginning of the year, I am pleased with our Q4 FY2021 performance and have closed an otherwise challenging year on a strong note. The sales and profit growth also reflects the resilience of our business model. During the year, we focused on our costs and efficiencies to deliver a robust performance on a quarter-on-quarter basis," said Mr. Sandip Somany, Vice Chairman and Managing Director, HSIL Limited.

"The improvement in margins over the last year demonstrates our abilities to work and deliver under uncertain times. For our future growth, we are investing in a greenfield project for specialty glass packaging and increasing our plastic pipes and fittings plant capacity. With a clear strategic direction, HSIL is well-positioned to drive profitable growth in the coming years and create value for all stakeholders," he added.

The firm manufactures and markets various packaging products, including glass containers and Polyethylene Terephthalate bottles and products and security caps and closures.  

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