GM Polyplast Results: Check H1FY23 earnings, bonus shares news

GM Polyplast Ltd., 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, has announced H1FY23 earnings - for 6 months ended 30 September, 2022. 

For the 6 months ended 30 September, 2022, the company recorded 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), an official statement said.

"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 statement added.

The company said it is focusing to make premium quality recycled Sheets and Granules by clearing plastic scrap. 

GM said it is currently purchasing PET Bottle flakes which has contributed to recycling 100,000,000 bottles of 1 liters every year.