Indo Rama

Indo Rama Synthetics posted a very poor show for Q4FY17. Its net revenue was at Rs.610 crore, down 15% (YoY). EBIDTA slipped down miserably to Rs.10 crore, a fall of 67%. The company ended the quarter with a net loss of Rs.15 crore v/s net profit of Rs.89 crore in previous Q4. Though the company managed to reduce its costs, almost doubling of interest costs from Rs.16 crore to Rs.26 crore, a further exceptional expense of Rs.5 crore pushed the company into the red.

It ended FY17, with a net revenue of Rs.2729 crore, down 2% and net loss came in at Rs.84 crore v/s profit of Rs.37 crore. Equity is huge at Rs.151.82 crore and interest costs is big – for FY17, it was at Rs.91 crore v/s Rs.54 crore in FY16.

The company is India’s largest dedicated polyester manufacturer with an Integrated Manufacturing Complex in Butibori near Nagpur in Maharashtra, with production capacity of 6,10,050 tons per annum of Polyester Staple Fibre, Filament Yarn, Draw Texturized Yarn, Fully Drawn Yarn and Textile grade Chips.