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Himadri Speciality chemicals net sales fell 16% to Rs 524.47 crore in Q1FY20 compared to Q1FY19. The company operating margins increased 150 bps to 23.3% leading to 11% decrease in operating profits to Rs 122.06 crore.
Other income increased 220% to Rs 6.5 crore compared to Rs 2.03 crore. Interest cost was down 16% to Rs 15.74 crore. Depreciation rose 4% to Rs 8.73 crore. PBT was down 7% to Rs 104.09 crore.
Effective rate of taxes was down 210 bps to 29.4%. PAT reported was down 4% to Rs 73.49 crore.
Performance for the year ended March 2019
For year ended March 2019, net sales rose 20% to Rs 2422.39 crore. The company operating margins increased 70 bps to 23.1%. As a result operating profits rose 24% to Rs 559.86 crore.
Other income fell 37% to Rs 7.76 crore. Interest cost was up 1% to Rs 71.05 crore. Depreciation rose 4% to Rs 34.43 crore. PBT was up 28% to Rs 462.14 crore..
Effective tax rate was down 160 bps to 29.8%. PAT reported was up 31% to Rs 324.24 crore.
The scrip is currently trading at Rs 81.95
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