Analyst Meet / AGM     16-Feb-21
Conference Call
INEOS Styrolution
Dramatic increase in price of ABS
INEOS Styrolution held a conference call on February 11, 2021 to discuss the results for the quarter ended Dec20 and way forward. Senior Management of the company addressed the call.

Highlights of the Concall

  • Business improved after easing of COVID-19 lockdown
  • Sales revenue increased 43% to Rs 484.8 crore in Q3FY21 compared to Q3FY20 while pat increased 411% to Rs 103 crore. Specialties revenue increased 36% to Rs 349.6 crore while Polystyrene revenue increased 62% to Rs 135.3 crore.
  • For 9MFY21 sales revenue decreased 18% to Rs 994.9 crore while pat stood at Rs 118.8 crore compared to loss of Rs 14 crore in 9MFY20. Specialties revenue decreased 23% to Rs 699.7 crore while Polystyrene revenue decreased 6% to Rs 295.3 crore.
  • High market prices and strong margins resulted in improved business performance. Most market segments showed positive signs of volume recovery
  • Global economies to see gradual recovery in 2021 driven by stimulus packages rolled by all governments and start of COVID-19 vaccination
  • The company does see short term concerns on global supply chain due to container movement in APAC region
  • The company expects Indian economy to show improvements driven by positive sentiments from Union budget 2021
  • The price of ABS has risen dramatically over last one year and so are the margins. But the company finds it difficult to predict for how long it will sustain.
  • China saw a very strong demand of ABS in 2020 as goods market and automotive market picked up very fast which has overall influenced prices globally.
  • The company expects overall market in India to improve and accordingly it shall grow business profitably going forward
  • The company recorded inventory gain of Rs 10 crore in Q3FY21
  • The company sees a strong double digit growth in demand of its product for at least next 6 months.
  • The company continues to strengthen its product position in focus segments and drive mix to maximize margins in line with INEOS Styrolution Triple Shift Strategy
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