Astral Poly Technik close down Baddi production plant

Astral Poly Technik Ltd, a CPVC plumbing systems manufacturer, has decided to close down its only manufacturing facility in North India. “The company has closed down its operations at manufacturing unit at Baddi (Himachal Pradesh) because it has become commercially unviable to run the plant,” said Astral Poly Technik in a BSE filing on June 18, 2015.
 
Besides Baddi, Astral Poly Technik has production facilities at Ahmedabad & Dholka (Gujarat) and Hosur (Tamilnadu) to manufacture plumbing systems for drainage with all kinds of necessary fittings.
 
Meanwhile, the company reported 40.32 percent drop in its net profit to Rs 16.58 crore for the March 2015 quarter, as against Rs 27.78 crore during the previous quarter. However, sales was up 11.34 percent to Rs 375.16 crore year-on-year.
 
Astral Poly Technik’s net profit declined 10.84 percent to Rs 68.84 crore in the year ended March 2015 as against Rs 77.21 crore during the previous year.