There was a volume growth of 5% to 76613 MT and value growth of 2% to Rs 989.48 crore for the quarter ended Dec'15 on YoY basis.

Sale of value added products stood at 42.38% Vs 38.20% on YoY basis. The main reason for an increase in margins is the increase in contribution from the value added products. Management expects the value added products sale to continue to remain robust.

The prices of raw material continued its downward trend during Dec'15 quarter as well. Management expects overall raw material prices to remain in range bound fluctuations and affordable.

The company expects to incur a capex of about Rs 200 crore for 9 months ended March ‘16. The commercial production of new units to Kharagpur and Malanpur have commenced and shall achieve normalcy in Jan-Mar'16 quarter.

Plastic piping business value wise was more or flat on YoY basis and grew by 4% in volume terms for Dec'15 quarter. The segment reported an OPM of around 13.0% for Dec'15 quarter.

Packaging products grew by around 13% both value and volume wise during the Dec'15 quarter on YoY basis. The segment reported an OPM of around 21.2% for Dec'15 quarter.

Industrial segment value wise de-grew by around 21% and de-grew by 12% in volume terms during the Dec'15 quarter on YoY basis. The segment reported an OPM of around 11% for Dec'15 quarter.

Consumer segment value wise grew by around 12% and 21% in volume terms during the Dec'15 quarter. The segment reported an OPM of around 16.3% for Dec'15 quarter as compared to 7.8% for Sep'14 quarter.

Loans stood at Rs 449 crore as on Dec'15 as compared to Rs 712 crore on Dec'14 with average rate of borrowing stood at 8.7%.

CPVC volumes and value stood at 3064 MT and Rs 86 crore for Dec'15 quarter

Subsidy for Dec'15 stood at Rs 1.7 crore as compared to around Rs 3 crore for H1 ended Dec'15.

The company expects to achieve volume growth of around 12-15% for 9 months ended March 2016.

Management is still not positive about industrial segment and expects some de-growth also in Mar'16 quarter. Except industrial component all other segments will grow in double digits in Mar'16 quarter.

Industry component and Material handling systems which form a part of industrial segment, continued to remain under pressure. Not much traction is happening on either of these sub segments and as per the management, it will take some more time, before the segment improves. Soft drink segment is growing quite slow.

The outlook for FY'17 will be revealed in more detail in April'16 but the management continues to remain optimistic about the future and increase of sale of value added products.