Piramal Glass Ceylon PLC has announced its results for the 1st Quarter of FY 2019-20 with Rs. 1,585 million of revenue & Rs. 21 million of profit after tax.

The quarter under review saw the completion of the Capacity Enhancement project, which was
undertaken by the Company in F17. The company installed a new bottle production line increasing
its total production lines from 5 to 6. The production of the 1st Quarter was negatively impacted,
as two production lines had to be shut down for some period to facilitate the installation of the new
production line. However we are confident that this Financial year end would see the highest ever
production at Piramal Glass Ceylon PLC.

This line has been installed mainly targeting the developed part of the world and has the flexibility
of producing bottles in varied shapes & designs.

The total investment for this project is approximately Rs. 1Bn. This investment will facilitate the
company to utilise its installed capacity to maximum.

The Domestic sale stood at Rs. 1,193 million as against Rs. 1,016 Million of the similar quarter of
the previous year, reflecting a growth of 17%. It was encouraging to see an upward momentum in
the domestic market after a long period of stagnation.

Preference was given to the increased demand of the domestic market by deferring some part of
the exports to the upcoming quarters.

Export sales for the Quarter was Rs. 392Mn as against Rs. 633Mn of the similar period of the
Previous year. Even with the limited tonnage, the company launched several new developments. A
blue colour water bottle & a liquor bottle were developed for the Australian Market & the initial
shipment took place during the quarter.

The management is confident that with the enhanced infrastructure that Piramal Ceylon would be
able to enter niche markets segments with improved realisations & better margins. Presently
company is exporting to USA, Canada, New Zealand, Australia, India, Pakistan, Myanmar & several
other markets.

Gross profit for the period under review is Rs. 240Mn as against Rs. 286Mn in the corresponding
period previous year. The Profit before tax was Rs.41Mn as against Rs.86Mn of the previous year.