Max Ventures & Industries Limited (MaxVIL), a part of India’s leading multi-business conglomerate, Max Group, has announced its financial results. The company operates two core businesses – real estate, and specialty packaging films.
The company’s specialty films vertical – MSFL continues to post strong performance recording its highest-ever quarterly revenue and EBITDA during Q1FY22. MSFL’s revenue increased by 46% YoY, EBITDA increased by 76% YoY, while margins expanded by 380 bps YoY to 22.2% on the back of solid demand accelerated by the shift towards sustainable solutions, recyclable, and value-added specialty films products.
The company’s real estate vertical – Max Estates witnessed an improved flow of inquiries for leasing as lockdown restrictions were relaxed from the second half of Q1FY22. While the company continues to positively engage with new prospective tenants, it expects the leasing to pick up in coming quarters as the economy unlocks and restrictions are further relaxed.
Going ahead, the company expects MSFL to continue the strong performance on the back of sustained demand, better product mix, and rising preference towards sustainable, recyclable, and packaged products. In the real estate business, the company expects leasing to gain traction in coming quarters while foraying into the residential business will open new opportunities and help Max Estates move towards becoming one of the top multi-asset class real estate developers in the Delhi-NCR region.
Sahil Vachani, MD and CEO of MaxVIL said, “Q1FY22 proved to be yet another record quarterly performance for our packaging films business posting its highest-ever quarterly revenue and EBITDA. Sustained demand, enhanced specialty product mix and sustainability-led initiatives led to this strong performance in our packaging films business. Our packaging films business is expected to continue the robust performance with a strong focus on sustainable and recyclable products with an improving share of value-added specialty films.
MSFL highlights
- MSFL recorded total volumes at 15,962 MT in Q1FY22.
- Value-added specialty films contributed 61% to total MSFL volumes in Q1FY22 vs. 39% in Q1FY21.
- Value-added specialty films contributed 68% to total MSFL revenue in Q1FY22 vs. 46% in Q1FY21.
- Work on the new CPP line has commenced in Q2FY22 and expected to be commercialized in Q4FY22, expanding the company’s capacity by 7.2 KTPA.
- Second metallizer line is expected to be commercialized in Q3FY22, enhancing the company’s specialty product capabilities and profitability.