Financial Results for period ended March 31, 2025.
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HCP Plastene Bulkpack reported a strong turnaround for FY25. Standalone revenue from operations jumped to ₹11,808.53 lakh from ₹4,554.91 lakh (~159% growth), while profit after tax swung from a loss of ₹276.37 lakh to a profit of ₹574.37 lakh. On a consolidated basis, revenue grew ~57% to ₹46,343.54 lakh, and PAT surged from ₹30.81 lakh to ₹1,332.91 lakh. Standalone EPS turned positive at ₹5.38 versus a loss of ₹2.59, and consolidated EPS rose to ₹12.50 from ₹0.37. The statutory auditor (Ashok Dhariwal & Co.) issued an unmodified and unqualified opinion on both standalone and consolidated results. The board also approved a disinvestment in its Malaysia subsidiary, ratified a new Unit 4 starting April 1, 2025, and increased its planned investment up to 70% in Saeed Ghodran Group (Saudi Arabia) via an extended MOU.
The sharp revenue growth and return to profitability are positive for shareholders and may support the stock price. However, negative operating cash flows on both standalone (₹-1,274 lakh) and consolidated (₹-1,844 lakh) bases, along with a high consolidated debt-to-equity ratio of ~2.4x and rising current borrowings, are red flags investors should monitor.