Other income grew 35% to Rs 48 lakh and interest cost grew 8% to Rs 22.69 crore. As depreciation grew 20% to Rs 39.24 crore, PBT went up 23% to Rs 58.95 crore.

Tax grew 35% to Rs 14.93 crore (tax incidence grew from 23% to 25%) after which PAT went up 19% to Rs 44.02 crore.

Minority interest grew 22% to Rs 73 lakh after which net profit went up 19% to Rs 43.30 crore.

FY 2018 consolidated results

For FY 2018, consolidated sales grew 13% to Rs 3102.74 crore. OPM improved from 14.7% to 15.2% which saw OP rise 17% to Rs 473.07 crore.

India sales grew 12% and overseas grew14%. Volume grew 15%. Volumes in India grew 14%; and overseas grew 17%.

In FY 2018 India & Overseas Revenue stood at 70%:30% against 71%:29%

Other income fell 4% to Rs 2.15 crore and interest cost fell 3% to Rs 87.54 crore. As depreciation grew 19% to Rs 137.25 crore, PBT went up 25% to Rs 250.43 crore.

Tax grew 32% to Rs 65.16 crore after which PAT went up 22% to Rs 185.28 crore.

Minority interest went up 13% to Rs 4.90 crore after which net profit went up 23% to Rs 180.37 crore.

Consolidated segment performance

During the quarter Polymer Products grew 14% to Rs 555.16 crore and contributed 72% of the total revenue. PBIT grew 17% to Rs 58.29 crore and accounted for 72% of total

During the quarter Composite Products grew 17% to Rs 226.31 crore and contributed 29% of the total revenue. PBIT grew 22% to Rs 22.88 crore and accounted for 28% of total

In FY 2018, Polymer Products grew 11% to Rs 2203.55 crore and contributed 71% of the total revenue. PBIT grew 15% to Rs 240.24 crore and accounted for 72% of total

In FY 2018, Composite Products grew 16% to Rs 899.19 crore and contributed 29% of the total revenue. PBIT grew 20% to Rs 95.59 crore and accounted for 28% of total

Valuation

The stock trades at Rs 141.