Sunday, May 19, 2024

G M Polyplast Ltd. Announces Excellent Results

G M Polyplast Ltd. (BSE: 543239),  a company engaged in manufacturing of HIPS and ABS Sheets and importing premium and cheap quality scrap which is then converted into premium quality sheets and granules announced excellent results for 6 months ended 30
September, 2022   with a 45% growth in revenue YoY, from Rs. 29.98 Cr (H1FY22) to Rs. 43.45 Cr (H1FY23). For the corresponding period, PAT rose 44%, from Rs. 1.76 Cr (H1FY22) to Rs. 2.53 Cr (H1FY23). 

The board has further recommended the issue of Bonus shares in the ratio of 6:1, that is 6 bonus equity shares for every 1 existing full paid up equity share held. The board also approved constitution of Corporate Social Responsibility (CSR) committee.

The company is focusing on making connections with importers and exporters across the world. G M Polyplast has diversified its product Range by adding new PET Sheet line. Additionally, the company is developing its existing product by bringing in new colours and textured design in plastic sheet.

Plastic is most recycled material globally and has a huge potential forgrowth. It will be using market penetration strategy by targeting to new industries which has not been tapped by the company yet. The company plans to massively increase export sales and create a brand image in the international markets.

The company is focusing to make premium quality recycled Sheets and Granules by clearing plastic scrap. GM is currently purchasing PET Bottle flakes which has contributed to recycling 100,000,000 bottles of 1 liters every year.

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