Bhansali Engg spurts after robust Q2 results

Bhansali Engineering Polymers jumped 4.41% to Rs 213 after the company's consolidated net profit surged 249.36% to Rs 123.57 crore on 21.76% increase in net sales to Rs 374.84 crore in Q2 September 2021 over Q2 September 2020.

Profit before tax soared 262.48% to Rs 164.53 crore in Q2 September 2021 over Q2 September 2020.

Net cash from operating activities surged to Rs 111.78 crore as on 30 September 2021 compared with Rs 87.52 crore as on 31 March 2021.

The company declared an interim dividend of Re 1 per share. The record date is fixed on 22 October 2021.

Further, the board approved the brown field Acrylonitrile-Butadiene-Styrene (ABS) expansion project at the company's existing plants in Rajasthan and Madhya Pradesh. The project will enhance overall ABS production capacity to 200,000 TPA with an approximate capex of Rs 500 crore. The expansion will be funded through reserves and surplus which shall be implemented tentatively by December 2024.

ABS is a highly-functional engineering plastic. It is highly processable and can be manufactured in various colors. It is popular for its durability and impact resistance feature and finds its way in various applications including home appliances, automotives, electronics and electricals etc. with wide range of colours and shades.

BEPL is the the lowest cost producer of ABS in India. Its customers include leading companies dealing in automobiles, home appliances, electronics, health care & kitchenware.

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