Ballarpur Industries Limited
Press Release:
Unaudited financial results for Nine Months and Q3 FY 2005*
Place: New DelhiDate:April 26, 2005
BILT Q3 2005 Paper Revenues increase 5.48 % to Rs. 3992 Million
PAT increases 36.11 % to Rs. 442.10 Million
9M Paper Revenues increase 6.89% to Rs. 12154.90 Million
PAT increases 32.15 % to Rs. 1276.20 Million
Ballarpur Industries Limited (BILT) today announced its financial and operating results for Q 3 FY 2005 and 9M FY 2005.
According to a statement issued by the Company:
“The current quarter’s results are positive and a reflection of our aspirations to be a significant player both in the Indian pulp and paper industry as well as the region. This, along with firm market sentiments and our continued initiatives in this direction are expected to continue through the next quarter.
*BILT follows a July 1 – June 30 fiscal year; therefore the current announcement covers the Company’s financial performance for the nine months and third quarter of Fiscal 2005..
9M FY 2005 v/s 9M FY 2004
- Paper Revenues grow 6.89% to Rs 12154.90 Million from Rs 11370.90 Million. Total Revenue at Rs. 16698.30 million compared with Rs. 16590.20 million.
- PBIDT expands at Rs 3445.60 Million compared with Rs 3223.40 Million.
- PBT advances by 18.74% to Rs 1531.30 Million from Rs 1289.60 Million.
- PAT grows by 32.15% at Rs 1276.20Million compared with Rs 965.70 Million translating into diluted EPS of Rs 7.16 for the nine-month period. Basic EPS after deferred tax is at Rs. 7.83and basic EPS before deferred tax is at Rs. 8.66 for the nine month period.
Q3 FY 2005 v/s Q3 FY 2004
- Paper Revenues increase 5.48% to Rs 3992Million compared with Rs 3784.60 Million. Total Revenue at Rs. 5653.50 million compared with Rs. 5606.30 million.
- PBIDT higher by 8.48% at Rs 1165.40 million compared with Rs 1074.30 million.
- PBT advances by 23.75% to Rs 536.70 million from Rs 433.70 million.
- PAT higher by 36.11% at Rs 442.10 million compared with Rs 324.80 million – quarterly EPS is at Rs. 2.49 on a fully diluted basis.
Operating overview
- Total Paper production (including coated) of 292749 MT in NM 2005 compared to 282302 MT in NM 2004.
- Total Paper production (including coated) of 96650 MT in Q 3 2005 compared to 93822 MT in Q 3 2004.
- Total Paper sales (including coated) of 294125 MT in NM 2005 compared to 286385 MT in
NM 2004.
- Total Paper sales (including coated) of 96704 MT in Q 3 2005 compared to 96756 MT in
Q 3 2004.
- Interest costs at Rs 834.30 million during the nine months; 13.54% lower than the corresponding period of previous year. This reduction has been achieved through a continued debt management approach.
Performance Highlights of the Quarter
- Fitch Rating Agency has upgraded the long-term credit rating to AA-.
- Unit BPU (Ballarpur) has bagged 1st prize from MEDA (Maharashtra Energy Development Agency), Government of Maharashtra for ‘Excellence in Energy Conservation & Management’ in Pulp & Paper sector for the year 2004.
- On the environment front: Unit BPU has optimized bleaching chemicals with focus on Chlorine & Hypo consumption for AOX reduction; at Unit Kamlapuram a new primary clarifier of bigger capacity in Effluent Treatment Plant and a new Electro Static Precipitator on FBC have been commissioned to improve the environment; and at Unit SGU focus in the area of water has resulted in reduction of water consumption by 23%.
- The Total Quality Management (TQM) initiative started earlier in the year is yielding good results in terms of quality improvement and cost containment. Over 160 projects have been completed at the various units.
- The Farm Forestry initiative of the Company has gathered more momentum with an accelerated effort at achieving greater self sufficiency in fibre resource. An added thrust has been imparted by increasing the area under clonal management.
- Following the launch of ‘BILT Matrix – Premium Executive’ series, and a nationwide media campaign to create brand awareness & generate brand pull, there has been a significant growth in this segment.
- Continuing its foray into the stationery segment, the company has witnessed strong demand-led growth for products under the BILT Matrix brand name. Institutional sales, including some well known schools, now form a large part of repeat sales.
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About BILT
Ballarpur Industries Limited (BILT) is India’s largest manufacturer of Writing and Printing Paper with 18% of the W&P market and approximately 50% of the coated paper market (as of January 2003). BILT has four paper mills in the states of Orissa (Unit Sewa), Haryana (Unit Shreegopal and Maharashtra (Unit Ballarpur and Bhigwan) together with a turnover of 359,000 tpa (as of January 2003) and a pulp mill in the state of Andhra Pradesh (Unit Kamlapuram). All of the Units possess captive power generation capacities and, with the exception of Bhigwan, also possess captive pulp making capacity. Together, these Units give the company geographic coverage over most of the Indian market.
For further information contact:
B Hariharan Vandana Dhir
BILTBILT
Tel: 95124 5099 216Tel: 95124 5099 438
Fax: 0124 280 4266Fax: 0124 280 4261
e-mail: e-mail:
Ballarpur Industries Limited
Disclaimer:
Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of strategic initiatives, potential product characteristics, uses and sales potential are forward-looking statements and are subject to risks and uncertainties that could cause actual results to differ materially. BILT may, from time to time, make additional written and / or oral forward looking statements, including statements contained in the Company's filings with the regulatory bodies and our reports to shareholders. The Company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.