'Net sales
(including other operating income) of Plastiblends India has declined 11.93% to
Rs 185.35 crore. Operating profit margin
has declined from 6.86% to 5.28%, leading to 32.22% decline in operating profit
to Rs 9.78 crore. Raw material cost as a
% of total sales (net of stock adjustments) increased from 76.06% to
76.17%. Employee cost increased from
4.63% to 5.41%. Other expenses rose
from 12.45% to 13.33%.
Several
sectors which use Masterbatches viz. Irrigation, Piping, Textile, Agriculture,
Flexible packaging (FMCG etc.) were having subdued demand in Q2. Many states
experienced untimely extreme heavy rainfall triggering widespread waterlogging,
flooding, power outages etc. resulting into loss of business. The consumer
spending which was expected to significantly go up also took breather due to
economic ...
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