- Revenue increased by 34.3%
Mumbai, July 18, 2011: Paramount Printpackaging Limited (BSE code: 533399), a company operating a fully automated plant at Navi Mumbai and capable of supplying different types of duplex board cartons, announced its audited financial results for the year ended 31st March, 2011.
The Company has recorded a healthy growth in its business which is evident from its financial performance. The total revenue for the year ended 31st March, 2011 increased to Rs. 6,246.12 lacs against the previous year of Rs. 4,649.85 lacs, registering a growth of 34.3%. The net profit for the year increased to Rs. 221.02 lacs recording an increase of 30% against Rs. 169.97 lacs in the previous year. The earning per share (EPS) increased to Rs. 1.90 from Rs. 1.55 for the previous year ended March 2010.
Commenting on the performance of the company, Mr. Divyesh Sukhadia, Chairman and Managing Director said “Our performance marks the turning point wherein the company is now poised for the expansion plan. The annual performance justifies investors’ confidence that they have shown at the time of IPO. The company now aspires to position itself as an innovative packaging solution provider in the Industry giving complete solutions to our clients.”
During the financial year 2010-2011:
Company made a initial public offer of 1,30,94,175 equity shares and raised Rs. 45.83 crore during the month of April 2011. The shares of the company were listed on National Stock Exchange and Bombay Stock Exchange on May 09, 2011.
About Paramount Printpackaging Ltd:
The Company is promoted by members of the Sukhadia family in 1941 through its facility at
Dalal Street, Fort, Mumbai. They gradually shifted from stationery printing to packaging in 1982. Today the Company operates a fully automated plant at Navi Mumbai, capable of supplying hundreds of different types of folding box cartons that suit the needs of its customers. Its total income for the year ended March 31, 2010 was Rs 46.49 crore and PAT at Rs 1.65 crore as against total income of Rs 33.81 crore and a loss of Rs 1.52 lacs for the previous fiscal.
The Company’s manufacturing processes today is automated to an optimum level which gives it the ability to execute high quality and large volume printing jobs, efficiently in lead times. In addition, with a view to gain a competitive advantage the Company has set up its own pre-press and ink matching centre. These in-house facilities are a key differentiator in comparison to other packaging solutions provider as it reduces the Company’s dependence on third party suppliers and also helps in increasing efficiency in terms of delivery times. As part of the pre-press facility, the Company has modules from ESKO Graphic software for the packaging activity and star proof for the proofing needs from BODHI Professional Its business strategy now is to enhance existing customer base which comprises of a large number of Indian and international companies, invest in high quality machinery and equipments to ensure efficient production and quality products.