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Showing posts with label Piramal Glass. Show all posts
Showing posts with label Piramal Glass. Show all posts

Piramal Glass Ceylon 1st half year Revenue at Rs.3,040M

Piramal Glass Ceylon PLC has successfully closed the 1st half of F2016 with revenue growth of 19% to Rs. 3,040 million,& PAT growth of 67% to Rs. 287 million against the previous year similar period.

Q2 :- The Sales for the quarter under review showed a growth of 15% from Rs. 1,291 million to Rs.1,491 million. This was made possible due to the domestic market which continued with its positive momentum with a growth of 22% over Q2 of previous year. All sectors showed a marked improvement whilst the food & Beverage contributed significantly.

The export market achieved Rs. 252 million during the period under review as against Rs 276 million during the similar period of previous year. As a strategy the company is continuously churning the export market shift from mid mass to premium thereby utilising the capacities towards servicing the 100% requirements of the domestic market and remain active player in the export premium and value added segment.

Yet during the period the PGC exports have launched several new bottles in the USA market. Presently USA remain the second largest exporting country in the company’s product portfolio.

The operating profit (PBIDT ) for the second quarter grew by 18% to Rs 329 million.

The Profit after tax for the quarter ended 30th Sept, 2015 stood at Rs 141 million as against Rs 84 million in the corresponding period previous year.

H1 :- At half year the company achieved a domestic sale of Rs.2,497 million as against Rs. 2,031 million of previous year with a growth of 23%

The export sales stood at Rs. 543 million as against Rs. 527 million of previous year with a growth of 3%.

The operating profits (PBIDT) for the first half of the FY 2015-16 grew by 20% to Rs 672 million as against Rs 560 million in the similar period of the previous year .
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Piramal Glass PLC 2Q sale drop 6.3%

Piramal Glass Ceylon PLC (PGC) has announced that its first half year results for the Financial Year 2013-14 has a dip in both the turnover and the operating profitability.

Piramal Glass six month price 6.70 - 5.10 rupees
The sales were at Rs. 2,476 million as against Rs. 2,631 million in the H1 of the previous year and the PAT at Rs. 376 million as against Rs. 412 million of the same period during the previous year.

The half year sale saw a drop of 6% which was attributed to a decline of 11% in the domestic market, and growth of 8% in the export market, when compared to the corresponding six month period of that of the previous year.

The company achieved a sale of Rs. 1, 253 million in Q2 F2014 as compared to Rs. 1,338 million in Q2 of F2013. The main reason for the decline in sale was due to the decline in domestic sales by 18% from Rs. 1,068 million to Rs. 875 million. The main sectors affected in the domestic market were the Food, Beverage and Liquor segments.

The export sale saw a growth of 39% during the quarter from Rs.270 million of Q2 F13, to Rs.377 in Q2 F14. “It was encouraging to note the development of new markets growing over 100% as against the similar quarter of the previous year. Also amidst the Indian Rupee Depreciation which has adversely impacted the Sri Lankan Exports to India, PGC managed to maintain its Export volume to India by discounting the prevailing prices. Yet this impacted the margins”, said Managing Director and CEO of Piramal Glass, Sanjay Tiwari.

The Gross Profit was at 18% as against the 30% achieved during the similar period of the previous year. According to Tiwari, the main contributor towards this drop was the high electricity tariff increase which affected the production cost directly and indirectly due to increased Raw Material Costs, Packing Material and reduction in production volume due to low off take in the domestic market, which increased the cost of production.

The PBT as at 30th September 2013 was Rs. 388 million, which included Rs. 297 million of land sale profit. Thus, the Operational PBT was Rs. 91 million as against the PBT of Rs. 420 million in H1 of FY13.


Piramal Glass Ceylon Profile

  • Piramal Glass Ceylon (Formerly Ceylon Glass Company) is the only glass bottle manufacturing plant in Sri Lanka. 
  • It had the opportunity of coming under the umbrella of Piramal Group in 1999. Located in Horana, it has been in existence for over 55 years. 
  • The company originally at Ratmalana was relocated at Horana in 2007 as a BOI venture under the auspices of ‘300 factory programme of Mahinda Chintana’.


PGC at its 250 Tonne Capacity Manufacturing Facility has the capability to offer glass containers in different shapes and colours for multiple industries such as Food, Liquor, Pharmaceutical, Agro Chemical and Soft drinks.

The Piramal Group led by Ajay G. Piramal is one of India’s foremost business conglomerates. Driven by the core values of Knowledge Action Care, the Piramal Group has a formidable presence in healthcare, drug discovery & research, glass, real estate and financial services. The Piramal Group also pursues sustained community activities in healthcare, education, emergency medical services, and heritage restoration.



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Piramal Glass posts Rs. 1.2 b revenue in FY141Q

Piramal Glass Ceylon PLC has concluded the 1st quarter of FY2014 with Rs. 1,223 million in revenue and Rs. 358 million in PAT, which included the profit from the sale of their Ratmalana land of Rs. 297 million.

The sales of glass products during the first three months of FY14 was Rs. 1,223 million, which was 6% less than that of the same period last year, i.e. Rs. 1,292 million.

The domestic sale stood at Rs. 916 million as against Rs. 932 of the similar quarter of the previous year. The sales were mainly affected by the low demand in the liquor and aerated water segment. The export market sale stood at Rs. 307 million and saw a decrease of 15% as against the Rs. 360 million received in the similar quarter of the previous year.

Piramal Glass Ceylon previously had its export market hub centralised around India. Yet presently with the devaluation of the Indian rupee, exports to India have become quite competitive thus, PGC has started a more focused market development in Australia, New Zealand, Mauritius etc. “Several new bottles were developed during this quarter for the Australian and New Zealand Market and we hope the results of same would be seen during the latter part of this year,” said Piramal Glass Managing Director and CEO Sanjay Tiwari.

The gross profit was at 22% as against the 28% achieved during the similar quarter of the previous year. The main contributor towards this drop was the high electricity tariff increase which affected the production cost directly and indirectly due to increased raw material costs, packing material etc.

The quarter-end PBT was Rs. 370 million, which included Rs. 297 million of the land sale profit. Thus, the operational PBT stood at Rs. 73 million as against the PBT of Rs. 143 million in Q1 of FY13. The transaction with regards to the part sale of the Ratmalana land was concluded during the quarter under review. 

The sale value stood at Rs. 355 million and the Profit gained from this deal was Rs. 297 million. These funds were used to settle part of the long term loans.
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