A leader of making plastic pipes expects its estimated revenue growth to grow by at least 15 per cent, for the year ending 31^st March, 2020. It will aided by government’s spending on infrastructure.
The company’s Chief Financial Officer, Hiranand Savlani said, “Based on the exit poll projections (for the Lok Sabha elections), it (revenue growth) could be higher.” He further added, ““The government is definitely going to spend a sizeable amount on infrastructure to achieve 7-8 percent GDP growth.”
However, Savlani also stated that with the new product launches like industrial chemicals in the adhesive segment will contribute to the company’s growth in the coming financial year. On Monday, Astral Poly Technik reported its March quarter earnings.
Shares of Astral Poly Technik fell as much as 6.8 per cent in today’s trade compared with a 0.14 percent gain in the Nifty as of 11 A.M.