Anil Jain, Managing Director of the company addressed the call.

For the quarter ended June 2015, it registered a 4% rise in consolidated sales to Rs 619.88 crore. OPM improved from 14.3% to 14.8% which saw OP rise 8% to Rs 91.84 crore.

PBT went up 13% to Rs 42.19 crore.

Net profit went up 12% to Rs 31.90 crore.

During the quarter Polymer Products contributed 72% of the total revenue. Revenue grew 5% to Rs 446.91 crore. PBIT grew 7% to Rs 47.98 crore and accounted for 73% of total

During the quarter Composite Products business accounted for 28% of the total revenue. Revenue stagnated at Rs 172.97 crore. PBIT went up 2% to Rs 17.492 crore and accounted for 27% of total

The above consolidated financial results for the Quarter/ Year ended are not comparable to those of previous quarter/year ended due to sale and discontinuance of some business.

On a like to like basis, net sale has gone up by 10%. The volume growth is about 13%. EBITDA has grown by 12% and the profit after tax (PAT) has grown 15% in June 2016 quarter.

The difference between the volume and the value growth is because the raw material prices have gone down. Since the company is in B2B business, it passes on the reduction to customers. Therefore the value has gone down but the EBITDA margins have grown about 0.5% as compared to the last quarter.

It is planning to start the production of MOX film in December 2016 quarter.

It has secured a large order for Composite Cylinders from overseas customer to fill almost 70% of its capacity (700000 cylinders per annum) for the next one year.

The company is looking for a 15% growth in continued business in the current year and the growth will come from both, Indian and overseas businesses.

Now discontinued business was worth Rs 180 crore in FY 2016.

In fact its overseas businesses are recording better growth than India, so, the consolidated growth will be about 15%.

It will improve return on capital (RoC) by 2% to around 15% by the end of FY 2017.

Debt will come down and the company will see expansion in margins.

Composite cylinder business is expected to see 50% growth.

In the next year it will have to expand Composite cylinder business because it has got thick pipeline of orders. Capex will be marginal because it already has infrastructure and all the equipments. So, it will probably have to invest a little bit to double capacity next year sometime.

In Q3 the company will launch a new product in Composite cylinder business which is for greenhouses.

In pipe business, it has seen massive growth.

The company will not be increasing debt. Debts actually have been frozen.

Current debt is Rs 740 crore. By the end of FY 2017 it will be reducing the debt by about Rs 40 crore and yet will actually be doing the projects.

Money from internal accruals will be used for reducing the debt, which along with other factors will improve RoC by 2%.

Export accounted for 69% of sales against 70%. Rest came from domestic business.

The company expects net profit growth of over 20%.

It expects growth of 12-14% in all segments.

Multilayer Multiaxial (M) Oriented (O) Cross Laminated (X) Film ( MOX ) will be a major growth driver going forward. The state-of-art manufacturing unit with 6000 MT capacity is expected to commence production in Q3 of the current fiscal.

India volume grew 10% and overseas volume grew 16%.

Annual potential turnover is Rs 150 crore for the entire composite sylinder business. It will do sales of Rs 80 crore from composite cylinders in FY 2017.

The company hopes to do 350000 cylinders in FY 2017 with EBITDA of 20%.

The company has largest range in composite cylinders from 2 kg to 22kg. Its closest competitor in Norway can give composite cylinders of only 14kg max.

Maintenance capex will be of Rs 70 crore in FY 2017. For the new project and products capex in FY 2017 will be Rs 105 crore. The company has already spent Rs 19 crore and Rs 32 crore respectively in June 2016 quarter.

Revenues growth was 9% for India and overseas was 12% in June 2016 quarter.

For FY 2017 tax rate will be 25%.

The Government push on water and sewage projects will benefit the company's PE Pipes business.

It has the second largest capacity for high pressure PE Pipes for industrial use. In this business the company enjoys repeat orders from large EPC contractors.