Resin and Plastics: Marginal Revenue Growth in FY24

07 November 2024

• Revenue: In FY24, the company’s revenue increased marginally by 2%, rising from Rs. 254 cr in FY23 to Rs. 259 cr in FY24. This growth was primarily limited due to a 15% reduction in inflationary pricing, despite a 21% increase in volume sales. However, the company managed to improve its bottom-line margins, which grew by 18%, moving from Rs. 9.8 cr in FY23 to Rs. 11.6 cr in FY24. This improvement was a result of a strategic focus on manufacturing efficiency and better management of the supply chain.
• Financial performance: Despite the global challenges such as geopolitical conflicts, increased freight rates, and reduced raw material supplies from major economies, the company maintained its performance. A focus on domestic markets, along with efforts in creditor and debtor management, helped navigate the tough environment, allowing the company to maintain its profitability and prepare for future growth through planned capacity augmentation.