PAP Automotive Limited, a leading manufacturer of automotive sealing systems, interior and exterior automotive parts in India, has announced its financial results for the quarter and nine months ended December 31, 2019.
Q3FY20 performance overview
• Revenues from operations at Rs. 79.14 crore
• EBITDA at Rs. 10.62 crore
--- EBITDA margin at 13.4%
• PAT at Rs. 3.52 crore
• EPS Rs. 2.52 (Face value of Rs. 10/- per share)
9MFY20 performance overview
• Revenues from operations at Rs. 256.48 crore
• EBITDA of Rs. 36.71 crore
---EBITDA margins at 14.3%
• PAT at Rs. 13.61 crore
• EPS Rs. 9.72 (Face value of Rs. 10/- each)
For the Quarter ended December 31, 2019:
Total Revenue for the quarter ended December 31, 2019 (Q3FY20) at Rs. 79.14 crore compared to Rs. 93.52 crore during the same period last year (Q3FY19).
The Company derived 99.7% of sales from the Passenger Vehicle segment of the Indian Automotive
Industry. Maruti Suzuki including Suzuki Motors Gujarat continue to remain PPAP's top customer accounting for 56.2% of the Part Sales. The Company's second biggest customer, Honda has contributed 21.8% to the company's topline of this quarter.
The Company reported Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs.
10.62 crore in Q3FY20, as against Rs. 15.95 crore in Q3FY19.
The Company reported a PAT of Rs. 3.52 crore for Q3FY20, as compared to Rs. 5.94 crore in the corresponding quarter of last fiscal. The Company's Q3FY20 PAT margin stood at 4.5%, as against 6.4% in Q3FY19.
Standalone: Earnings per share (EPS) for the quarter ended Q3FY20 stood at Rs. 2.52, as compared with Rs. 4.24 for the quarter ended Q3FY19.
Consolidated: Earnings per share (EPS) for the quarter ended Q3FY20 stood at Rs. 1.80, as compared with Rs. 3.91 for the quarter ended Q3FY19.
For the Nine months ended December 31, 2019:
Total Income for the nine months ended December 31, 2019 (9MFY20) at Rs.256.48 crore, compared to Rs. 311.85 crore during the same period last year (9MFY19).
The Company reported Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) of Rs. 36.71 crore in 9MFY20, as against Rs. 59.99 crore in 9MFY19.
The Company reported a standalone PAT of Rs. 13.61 crore for 9MFY20, as compared to Rs. 26.36 crore during the same period last year. The Company's 9MFY20 PAT margin is 5.3 %, as against 8.5% in 9MFY19.
Consolidated PAT for 9MFY20 is Rs. 12.35 crore as compared to Rs. 26.37 crore during the same period last year.
Commenting on the performance, Ajay Kumar Jain, Chairman and Managing Director at PPAP Automotive Limited, said, "The demand for vehicles continues to be timid in the Quarter which effected the top line of the Company. However, due to the Company's stringent focus on cost and cash flow management, the Company was able to maintain profitable operations. The demand is expected to rebound in the near future which will ensure the Company bouncing back to its earlier financial performance due to higher utilization of assets".
END