MUMBAI, India, Nov. 18, 2024 /PRNewswire/ — Platinum Industries Ltd., a leading manufacturer of PVC and CPVC additives and the third-largest player in India’s PVC stabiliser market (Source: CRISIL Report), is pleased to announce its financial results for the second quarter and half-year ending September 30, 2024. The Company concluded the first half of the financial year by surpassing the INR 2 billion revenue mark, reflecting a significant milestone in its consolidated revenue performance.
Key Consolidated Financial Highlights for Q2 and H1 FY25 (INR in Million)
|
Particulars |
Q2 FY25 |
Q2 FY24 |
%Change |
H1 FY25 |
H1 FY24 |
% Change |
|
Revenue from Operations |
996.35 |
609.05 |
63.59 % |
2,022.90 |
1,228.21 |
64.70 % |
|
EBITDA |
150.90 |
161.88 |
-6.78 % |
355.59 |
323.78 |
9.82 % |
|
EBITDA Margin % |
15.15 % |
26.58 % |
-1143 bps |
17.58 % |
26.36 % |
-878 bps |
|
Profit Before Tax |
193.99 |
151.61 |
27.95 % |
432.96 |
302.43 |
43.16 % |
|
PBT Margin % |
19.47 % |
24.89 % |
-542 bps |
21.40 % |
24.62 % |
-322 bps |
|
Profit after Tax |
145.26 |
114.41 |
26.96 % |
322.64 |
228.35 |
41.29 % |
|
PAT Margin % |
13.80 % |
18.61 % |
-481 bps |
15.17 % |
18.45 % |
-328 bps |
|
Earnings Per Share (EPS) In INR |
2.64 |
2.88 |
-8.33 % |
5.75 |
5.71 |
0.70 % |
Performance Highlights:
Revenue in Q2 FY25 reached INR 996.35 million, reflecting a year-on-year growth of 63.59%, driven by increased demand across domestic and international markets. For the first half of FY25, revenue surged by 64.7% year-on-year to INR 2,022.9 million. This substantial revenue growth underscores Platinum Industries’ resilience and adaptability in a competitive market. Platinum’s commitment to quality and reliability has led to long-term relationships with marquee clients, creating high retention and stable cash flows.
Profit Margins and EBITDA Performance
For H1 FY25, EBITDA reached INR 355.59 million, reflecting a 9.82% growth compared to H1 FY24. Compared to Q2FY24, EBITDA margin contracted by 1143 bps in Q2FY25 due to product mix skew towards lower margin products and higher operating expenses.
Nevertheless, the Company demonstrated improved return ratios, with Return on Equity (ROE) and Return on Capital Employed (ROCE) standing at 8.89% and 8.54% respectively for H1 FY25.
Strengthened Profitability in H1 FY25
Profit Before Tax (PBT) increased by 27.95% year-on-year to INR 193.99 million in Q2 FY25, with a PBT margin of 19.47%, down by 542 basis points. For the half-year, PBT grew by 43.16% to INR 432.96 million, demonstrating Platinum Industries’ commitment to maintaining strong profitability despite challenging cost conditions.
Earnings and Shareholder Value
Profit After Tax (PAT) for Q2 FY25 rose by 26.96% to INR 145.26 million, while H1 FY25 PAT reached INR 322.64 million, marking a year-on-year growth of 41.29%. The EPS for H1 FY25 was INR 5.75, indicating steady returns for shareholders amidst market challenges.
Chairman’s Commentary:
Mr. Krishna Rana, Chairman and Managing Director of Platinum Industries, commented, “Our performance for Q2 & H1 FY25 reflects not only the resilience of our business model, but also our commitment to long-term growth. As we expand our manufacturing footprint with upcoming facilities in Egypt and Palghar, we are strategically positioned to meet the growing demand for sustainable PVC stabilisers and additives across high-growth regions, in both mature and emerging markets. In particular, with a proven track record on sustainable, lead-free, and calcium-organic stabilizers, Platinum is well-positioned to align with global regulatory trends and eco-conscious market preferences. This capacity expansion, coupled with our focus on lead-free and eco-friendly solutions, underpins our mission to drive sustainable innovation and establish Platinum as a respected global peer in specialty chemicals.
He further added, “In terms of our outlook, Platinum Industries stands well-prepared to leverage its expanded capacity, sustainable innovations, and strong client relationships for long-term growth. With robust financial health and a clear strategy, we are set to capture further market share and deliver enduring value to our shareholders. A strong balance sheet, with funds from the recent IPO, provides us the financial flexibility needed for expansion, and R&D. We are now also exploring potential acquisitions as beachheads into Europe to accelerate market penetration.”
Strategic Capacity Expansion Roadmap
The new facilities in India and Egypt are set to significantly boost capacity, enabling Platinum to meet rising demand in regions like MENA, Europe, and the U.S., while enhancing cost-efficiency:
- Palghar Facility, India: A 60,000-tonne annual capacity expansion focused on non-lead-based stabilisers is slated for completion by Q4 FY2024-25. Positioned near critical raw material sources and JNPT port, this facility will optimize both domestic supply and export logistics, supporting rapid delivery to key markets.
- Suez Canal Economic Zone, Egypt: Platinum’s new 60,000-tonne annual capacity facility in Egypt is scheduled to be operational by Q2 FY2025-26. This strategic location will enable efficient access to the high-growth MENA and LATAM regions, leveraging proximity to major shipping routes to minimize lead times and distribution costs.
About Platinum Industries Ltd.
Platinum Industries Ltd. is a premier multi-product company in the speciality chemicals sector, specialising in PVC & CPVC Additives, Metal Soaps and lubricants. As India’s leading PVC stabiliser manufacturer, Platinum supplies to over 30 countries from its ISO 9001:2015 certified facility in Palghar, Maharashtra, strategically located near JNPT Port for efficient import and export operations. The Company’s product range includes lead stabilisers, Hybrid™ low lead stabilisers, Highstab™ Ca- Zn/Ca-Org stabilisers, CPVC compounds, CPVC Add Packs, Metal Soaps and various lubricants, which are used in PVC pipes, fittings, profiles, electrical wires and cables, SPC floor tiles, Roofing and packaging materials. According to the CRISIL Report, Platinum Industries holds a 13% market share, making it the third- largest player in the domestic PVC stabiliser market for FY 2022-23. Platinum’s commitment to innovation is reinforced by a technical collaboration with HMS Concept E.U., led by Dr. Horst Michael Schiller. Additionally, an in-house R&D facility in Dhansar, Palghar, drives continuous product development. The Company’s substantial domestic market share, innovation, sustainable growth practices, and strategic global expansion plans, including new facilities in Egypt and Palghar, solidify its status as a market leader with a team of 104 people in Mumbai, India.
