IG Petrochemicals hits 52-week high on stellar Q4FY17

IG Petrochemicals has declared its Q4FY17 results on Wednesday after market hours. The company’s revenue increased 35 per cent to Rs 289 crore in Q4FY17 on yearly basis. Its EBITDA also rose 96 per cent to Rs 45.6 crore in Q4FY17 as compared to same period in the previous fiscal year. Its PAT also boosted 134 per cent to Rs 28.1 crore in Q4FY17 on yearly basis.

On the yearly front, IG Petrochemicals’ top line increased 9 per cent to Rs 1038 crore in FY17 on yearly basis. Its EBITDA too rose 45 per cent to Rs 164 crore in FY17 as compared to a previous fiscal year. Its PAT also boosted 68 per cent to Rs 111 crore in FY17 on yearly basis.

As per company’s management, it is improving the performance of the business through a two-pronged approach of quickly scaling up of the manufacturing capacities and optimising cost efficiencies.

Its EBITDA & PAT margins improved exponentially by 390 basis points to 15.8 per cent and by 350 basis points to 9.8 per cent on the back of better recovery processes, operational efficiency and stringent cost control measures.

The share price of IG Petrochemicals increased 3.13 per cent in an early trade and is trading at Rs 416.9 on an intraday basis. Its share price traded fresh 52-week high at Rs 440.