Kshitij Polyline Ltd. -a manufacturer of industrial PP sheets, PP files and folders, and lamination products – has reported its earnings for the fourth quarter of financial years 2024.  According to an exchange filing, the company’s consolidated revenue from operations grew by an 74.84 per cent year-on-year to Rs 59.40 crores. 

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Its consolidated EBITDA rose by 62.60 per cent year-on-year to Rs 5.69 crore and consolidated Profit After Tax (PAT) saw a jump of 342 per cent year-on-year, totaling Rs 1.61 crore.

The company has also received approval from the National Stock Exchange (NSE) for a rights issue of approximately upto Rs. 26 crores.

“The proceeds from this rights issue will be strategically utilized to reduce our debt and procure new machinery, aligning with our goals for sustainable growth and enhanced operational efficiency. As a result, we anticipate that our existing finance cost of Rs 217.98 Lakhs will reduce by more than 50 per cent, while our production capacity is expected to increase by 30-40 per cent in FY25,” the company said.

According to the company, it has emerged as the highest bidder for Omkar Speciality Chemicals, with a bid of approximately Rs 23.14 crores. This acquisition has been approved by the creditors' committee and is currently pending final approval from the National Company Law Tribunal (NCLT).