PPAP Automotive Limited (PPAP), (BSE: 532934; NSE: PPAP) a leading manufacturer of Automotive Sealing Systems, interior, and exterior automotive parts, on Thursday declared its financial results for the fourth quarter and full year ended March 31, 2016.
The company reported Net Profit of Rs. 4.24 crore for Q4FY16, as compared to Rs. 4.74 crore in the corresponding quarter of last fiscal.
Total Income for the quarter ended March 31 2016 stood at Rs. 77.07 crore, as compared to Rs. 97.77 crore in the same period last year. PPAP’s Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) in Q4FY16 stood at Rs. 12.88 crore, up 3.45%. The company’s EBITDA margin improved significantly from 12.73% in Q4FY15 to 16.71% in Q4FY16.
Earnings per share (EPS) for the quarter ended Q4FY16 stood at Rs. 3.03, as compared with Rs. 3.39 for the quarter ended March 31, 2015.
For the full year period ended March 31, 2016, PPAP’s net profit jumped by 26.93% to Rs. 15.27 crore, as compared to Rs. 12.03 crore in 2015. The company’s PAT margin improved from 3.78% in FY15 to 5.04% in FY16.
Total Income for FY16 stood at Rs. 302.75 crore, as compared to Rs. 318.50 crore during FY15. PPAP’s EBITDA in FY16 stood at Rs. 52.06 crore, up by 29%, as compared to Rs. 40.36 crore during FY15. The company’s EBITDA margin improved from 12.67% in FY15 to 17.20% in FY16.
For FY16, EPS stood at Rs. 10.91 as against Rs. 8.59 in FY15.
For the full year ended March 31, 2016, the Consolidated Total Income stood at Rs. 318.63 crore. The company registered a Consolidated EBITDA & Net Profit of Rs. 52.97 crore and 14.03 crore respectively.
The Board of Directors has recommended a final dividend of 10% on equity share of Rs. 10 each for FY16.
Commenting on the financial performance of the company, Mr. Ajay Kumar Jain, the Chairman and Managing Director, PPAP Automotive Limited, said, “Higher growth in sales could not be achieved due to the timid market conditions. However, due to our continued initiatives on operational efficiency and further strengthening of the internal systems, we have delivered results as is evident from the financial performance. Our continued commitment to efficiency will accelerate the growth of the Company.”