Plastiblends India : Unaudited Financial Results for the Quarter ended 30th June, 2024

July 13, 2024

To,	To,
Department of Corporate Services	Corporate Relation Department
BSE Limited	National Stock Exchange of India Limited
Floor 25, Phiroze Jeejeebhoy Tower,	Exchange Plaza, 5th Floor, Plot No. C/1,
Dalal Street,	G- Block, Bandra Kurla Complex,
Mumbai - 400 001	Bandra (East), Mumbai- 400 051
Re. : Scrip Code : 523648	Re. : Stock Code : PLASTIBLEN

Sub. : Outcome of Board Meeting

Dear Sir/Madam,

Pursuant to Regulation 33 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company in its meeting held today i.e. Saturday, July 13, 2024 has inter-alia considered, noted and approved,

1. Un-auditedFinancial Results for the quarter ended June 30, 2024. Copy of the Unaudited Financial Results, Limited review report and press release are enclosed.
2. Reconstituted Audit Committee, Nomination & Remuneration Committee and Corporate Social Responsibility Committee.

The Board Meeting started at 12:00 noon and concluded at 4:10 p.m. These results are also being made available on the website of the Company at www.plastiblends.com

This is for your information and records.

Thanking you,

Yours truly,

For Plastiblends India Limited

HIMANSHU SURESH MHATRE

Himanshu Mhatre

Company Secretary

Digitally signed by HIMANSHU SURESH MHATRE

Date: 2024.07.13 16:07:35 +05'30'

Encl. : as above

Press Release

Mumbai, India: July 13, 2024

Plastiblends India Ltd (BSE code: 523648, NSE: PLASTIBLEN), India's leading player in Masterbatch manufacturing industry, announced its Financial Results for the first quarter on July 13, 2024.

HIGHLIGHTS OF FINANCIAL PERFORMANCE

• The financial performance highlights for the quarter ended 30th June, 2024 are as given below :-

(Rs in Lakhs)

Particulars		Quarterly
Q1 FY 2425	Q1 FY 2324	% Y-o-Y
Revenue from Operations	21,158	19,567	8.13%
EBITDA	1,873	1,446	29.51%
PBT	1,461	1,047	39.48%
PAT	1,085	765	41.83%
EBITDA Margin %	8.85%	7.39%	↑ 146 bps
PBT Margin	6.91%	5.35%	↑ 155 bps
PAT Margin %	5.13%	3.91%	↑ 122 bps

QUARTERLY HIGHLIGHTS



• Revenue from operations grew by 8 % from Rs. 195 Cr to Rs. 211 Cr.



• EBITDA grew by 146 bps from Rs. 1446 lakhs in Q1FY23-24 to Rs. 1873 Lakhs in

Q1FY24-25.



• Domestic markets witnessed low double digit volume growth. There was subdued demand for plastic and polymer in Q1. After urban markets, now rural markets are showing signs of revival, driven by increased consumer spending and heightened business activity.



• Export markets have witnessed remarkably high double digit volume growth. 



• Company was conferred with "Highest Recognization for Exports" award for FY 2021-22 and 2022-23 at the Plastic Export Promotion Council award ceremony held on June 07, 2024



• To meet the increase in demand of Black Masterbatch, Company had augmented black capacity in last Financial Year which is getting utilized at 

optimum level. Company is contemplating augmentation of further capacity in black as well as other families.

• We are currently exploring additional solar capacity on rooftop as well as ground mounted up to 6000 KWP (existing rooftop solar capacity is 1420 KWP), reinforcing our commitment to renewable sources and clean energy.
  
• In April 2024, Company had organized Dealers Conclave. The insights and suggestions gathered will help in enhancing strategies, providing long term benefits. However, the entire expenses were booked in Q1 as per accounting practice.

Commenting on the performance, Shri S. N. Kabra, Chairman & Managing Director said, "Good growth momentum was observed in Q1. The trend is expected to continue going forward"

"The strategic initiative undertaken for capturing the additional market share, enhancing operational efficiency and prudent financial disciplinary strategy have played a pivotal role improving the margins."

"The general elections outcome have ensured policy continuity, promising continued support and growth opportunities for the Plastic/Masterbatch sector."

"Government initiatives like "Make in India", "Atmanirbhar Bharat", "Vocal for Local", "Smart City Plan" and "Har Ghar Jal (Jal Jeevan Mission)" etc. are impelling growth to the India's masterbatch industry."

"Company is committed to create long-term value for its stakeholders and is confident in its ability to handle external challenges and grow sustainably"

About Plastiblends India Limited

Plastiblends India Limited is into manufacturing of Masterbatches & Compounds.

Masterbatches & Compounds find applications in various plastic processing industries such as Flexible Packaging (FMCG, Package and Fast Food, etc.), Consumer Durable (Electronic Appliances, Furniture, Toys, Luggage, House ware etc.) Health Care, Agriculture, Irrigation, Piping, Textiles, Telecom, Infrastructure etc.

Plastiblends has wide range of Masterbatches like White/Black/Colour/Additive Filler.

Plastiblends is the Largest Player in Masterbatch Segment enjoying the market/ brand leader status since inception.

Plastiblends has world class manufacturing facilities at-Daman (UT), Roorkee (Uttarkhand), Palsana (Surat - Gujarat).

For More Information Contact :
- Anand Mundra
Chief Financial officer	Call :- 022-67205200
- Himanshu Mhatre
Company Secretary

Safe Harbor Statement

Statements in this presentation describing the Company's performance may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company's operation include, among others, economic conditions affecting demand/supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/or other incidental factors.