JBF Industries Ltd Q2 FY2007

Mumbai, Maharashtra, India

JBF Industries Limited, a leading manufacturer of Polyester Chips and Polyester Yarn announced its results for the quarter ending September 30, 2007. JBF Industries is engaged in the manufacture of polyester chips and partially oriented yarn. JBF is an industry leader in polyester chips in India (market share 55 per cent) and the third largest POY manufacturer in India.

-- JBF Industries posted growth of 76.15 % Y to Y for the same quarter

-- Net profit in Q2 FY 07 -08 is Rs 40.87 crores. An Increase of 82.70 % YoY

-- EBIDTA margin stood at Rs 77.09 crores. An increase of 69.11 % YoY

-- Basic EPS for the quarter was Rs 7.27 an increase of 62.28 %YoY

-- JBF - RAK plant commenced production. 2nd phase to be completed by March 2008

In Q2 FY 07-08, JBF registered Net turnover of Rs 531.74 crores as against Rs 301.86 crores in corresponding quarter previous year. An increase of 76.15 % .The net profit in the same period increased from Rs 22.37 crores to Rs 40.87 crores for the Q2 FY-07-08. As against the previous quarter net profit increased by 54.40%. As against the previous quarter there was increase of 7.56% in net turnover. The top line QtoQ increased by 7.56 % as the plant capacities continued to work on nearly full capacity last and this quarter, however due to better margins in second quarter the net profits showed substantial increase.

EBIDTA for the quarter is Rs 77.09 crores as compared to same quarter previous year of Rs 45.59 crores, an increase of 69.11 %. The EBIDTA for the previous quarter (Q1- 2007-2008) was Rs 60.72 crores.

Basic EPS (not annualized) for the second quarter of 2007- 2008 was Rs 7.27 compared to Rs 4.87 for the previous quarter. YoY growth was 62.28 %

In the quarter ended September 2007, the PBT was Rs 57.10 crores as against Rs 33.86 crores in the same period in the previous year. An increase of 68.63%. The PBT increased by 45.33 % as against the previous quarter.

Exports for the quarter ended September 2007 was Rs 47.25 crores as against Rs 14.81 crores in the same period for the year 2006-2007.An increase of 219.04%

Commenting on the Company's financial performance, Mr. B C Arya Chairman, JBF Industries Ltd said:

"The operational performance of the Company has improved substantially due to all round improvement in performance in all our businesses POY, Polyester chips and Specialty yarns. We have the visibility of continued high growth trajectory over the second half of the financial year also..."

Operational Highlights

-- JBF Industries had undertaken expansion of its capacities for its polyester chips and its POY capacity. The Q2 FY 08 capacities for POY were 37500MT and for Polyester chips were 83700MT

-- The company has set up a PET bottle grade and polyester films manufacturing facility in RAK, UAE, where JBF holds a 60% stake. The unit will have a capacity of 216,000 TPA of bottle grade chips and 108,000 TPA of polyester films. The chips plant got commenced on July'07, while the polyester film plant will commence operation by last quarter of 2007- 2008.

-- The UAE operation attracts tax benefits, low raw material cost, lower fuel cost and the absence of customs duty

To view the press release along with the tables please click the link given below:

Press Release

Source: JBF Industries Ltd. (Business Wire India)

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