• Operating income net of GST/excise was up by 29% to Rs 3664.17 crore facilitated largely by sharp jump in revenue of all business verticals.

• Operating profit margin contracted by 50 bps to 10.1%. Fall in OPM is largely due to higher material and subcontract charges. While material cost, which as a proportion to sales net of excise, was higher by 700 bps to 58.2% and that of subcontracting charges was up by 70 bps to 18.3%. The staff cost was down by 60 bps to 6.0%. Similarly the other expense was down by 620 bps to 7.6%. Thus facilitated by higher sales the operating profit was up by 23% to Rs 369.89 crore.

• Other income was up by 10% to Rs 12.55 crore. The interest was up by 3% to Rs 65.60 crore and depreciation was down by 33% to Rs 27.49 crore. But as % to OP, the interest cost and depreciation stayed low. Thus the PBT (before EO) was up by 39% to Rs 289.35 crore.

• EO income for the quarter as well as corresponding previous period was nil. Thus the PBT (after EO) was up by 39% to Rs 289.35 crore. The current tax including deferred tax was higher by 49% to Rs 93.04 crore. Thus the growth at PAT was 35% to Rs 196.31 crore. The share of loss from associates is nil for the quarter as well as corresponding previous period.

• Other comprehensive income was Rs 0.91 crore compared to an expense of Rs 18.34 crore in corresponding previous period. Thus on deflated base, the total comprehensive income was up by 55% to Rs 197.22 crore.

Yearly performance

Consolidated sale was up by 17% to Rs 10058.02 crore. The OPM was up by 50 bps to 10.0% and thus the operating profit was up by 23% to Rs 1006.18 crore. After accounting for higher other income, lower interest and lower depreciation the PBT (before EO) was up by 49% to Rs 690.24 crore. With tax rate stand lower at 33.3% compared to 34.2% in corresponding previous period, the PAT was up by 51% to Rs 460.41 crore.

Order book

Current unexecuted order book of the company stands at Rs 17298 crore as end of Mar 2018. YTD order inflow was at Rs 15098 crore.

Other developments

Subject to the approval of shareholders to pay a dividend of Rs 2.40 per equity share of RS 2 each for FY18.