by NR INDRAN / INT

Mumbai : Piramal Glass Limited (PGL), a leading global manufacturer of flaconnage (glass containers) for Cosmetics & Perfumery, Specialty Food & Beverages and Pharmaceutical industry, has recorded a significant jump of 78.97% in its net profit to Rs 31.5 crores compared to Rs 17.6 core in the same period previous year. For the same period, sales increased by 14% from Rs.278.3 crores to reach Rs.317.2 crores.

Operating EBIDTA for Q1 FY2012 increased by 29.97% to Rs.82.4 crores compared to Rs.63.9 crores for the same period previous year.

The companyⳠoperating EBIDTA margins have been increased to 26% – an improvement of 320 bps for Q1 FY2012.

For Q1 FY12, Cosmetic & Perfumery (C&P), grew by 30 % and now contributes 55% of the total sales. Out of C&P, premium segment grew by 40 % which constitute 50% of the total C&P segment. Speciality Food & Beverage (SF&B) division grew by 23%, while Pharma sales contracted by 17% mainly on account of reduced capacity allocation for Pharma with shifting of one furnace of 55tpd capacity to production of C&P.

Commenting on the CompanyⳠperformance and future growth strategies, Mr. Vijay Shah, Managing Director Piramal Glass mentioned, ㏵r investment strategies of the last few years are bearing fruits and our focus on the high margin ᐲemium⠣osmetics and perfumery segment has led to a phenomenal improvement in EBIDTA. We expect our C&P Premium segment to grow by 28-30% CAGR till FY2013. Overall sales growth of 17-18%.

Mr. Ajay Piramal, Chairman, Piramal Group hailed the companyⳠperformance, ㏵r record run has continued in Q1 FY2012 as well. The focus on cosmetics and perfumery, especially premium has helped us in achieving this result. With the revamp in the capacity, Piramal Glass will be worlds 2nd largest C&P Company (In terms of capacity) with 550 TPD as installed capacity. We are truly on our way to be amongst the top 3 global flaconnage glass companies globally.

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