Other income rose to Rs 3.29 crore compared to loss of Rs 0.76 crore in the corresponding quarter last year. Interest cost was down 5% to Rs 2.83 crore. Depreciation rose 10% to Rs 2.43 crore. PBT surged to Rs 16.66 crore from Rs 0.03 crore in Q4FY20210.

Effective tax rate increased to 30.0% in Q4FY2021 from tax write back in Q4FY2020.

PAT reported surged 2357% to Rs 32.58 crore.

The company has exhibited improvement on various key ratio's with current ratio improving to 1.3x in FY2021 from 1.47x in FY2020. The debt equity ratio has declined o 0.45x from 0.51x, while debt services ratio has jumped to 3.43x from 1.31x.

The company continues its efforts to use Solar Power as a source of energy for their units. It hopes that by the end of the year almost 30% of energy needs would be met by solar power.

With a focus on backward integration, the company continues to leverage on technological upgradation and innovation. With the state of art certified manufacturing facilities and enhanced capacities, the company is better placed to serve the industrial bulk packaging needs of its customers. The company is leveraging artificial Intelligence and Digitalization to improve operational efficiency.

The company has posted strong 51% growth in exports. The export order book of the company remains robust with strong customer loyalty.

Performance FY2021

For year ended March 2021, sales increased 44% to Rs 451.64 crore. The company operating margins surged 648 bps to 12.2%. As a result operating profits galloped 207% to Rs 54.97 crore.

Other income fell 4% to Rs 7.52 crore. Interest cost was down 13% to Rs 9.17 crore. Depreciation rose 3% to Rs 9.18 crore. PBT surged 599% to Rs 44.13 crore.

Effective tax rate was up 962 bps to 31.54%. PAT reported has moved up 513% to Rs 21.10 crore in FY2021.