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For the quarter ended Mar 18, the company reported net sales of Rs 109.93 crore, up by 2%. OPM was higher by 80 bps to 10%, resulting in the OP growth of 10% to Rs 10.94 crore. Interest costs was higher by 6% to Rs6.52 crore and depreciation was lower by 10% to Rs 1.06 crore. Thus, PBT was up by 5% to Rs 3.58 crore. After providing total tax of Rs 0.89 crore, down by 28% YoY, PAT for the Mar 18 quarter stood at Rs 2.69 crore, up by 23% YoY.
Performance for 12 months ended Mar 18
For 12 months ended Mar 18, net sales were up by 13% to Rs 365.38 crore. OPM was lower by 50 bps to 9.7%, thus resulting in a 7% increase in OP to Rs 35.46 crore. After providing interest cost of Rs 22.94 crore, up by 4% and depreciation cost of Rs 5.06 crore down by 3%, PBT stood at Rs 9.22 crore up by 17% YoY. After providing total tax of Rs 2.95 crore up by 10%, PAT for 12 months ended Mar 18 stood at Rs 6.27 crore up by 21% YoY.
Other updates
Total order book position as on Mar 18 stood at Rs 114 crore. Order book to be executed in 3-4 months. 49% of the order book is from hydrocarbon segment.
Over and above the order book, the company has been awarded 3 bulk contracts towards designing, engineering & ‘supplying of Fire Resistant Signal Cables, Conventional Type instrumentation Cables and Power Cables to be used in the Hydrocarbon Sector in the states of Haryana, Assam and Gujarat. The combined total estimated value of the said contracts is Rs. 40 crore. The contracts are scheduled to commence immediately and shall be executed over a period of 5 months.
Cords Cable Industries enjoys strong brand equity in the BZB segment. Company's focus on maintaining highest standards of quality has enabled it to develop & maintain long term relationships with its clients. Cords Cable Industries has also exported its products to about 45 countries, thus signifying cords is a preferred brand for specialized cables
Total financial charges for FY 18 of Rs 22.94 crore include Rs 12.4 crore of working capital interest and bank charges of Rs 5.8 crore which comprises of LC/BG/non fund based limit charges.
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