Other income fell 15.79% to Rs 0.32 crore. Provision for interest was up 5.27% to Rs 6.99 crore. Provision for depreciation increased 9.37% to Rs 1.75 crore. Profit before tax grew 148.54% to Rs 2.56 crore. Provision for tax was debit of Rs 0.64 crore, compared to credit of Rs 3.72 crore. Profit after tax fell 59.58% to Rs 1.92 crore.

Full year results analysis

Net sales of Cords Cable Industries have declined 23.17% to Rs 323.37 crore. Operating profit margin has jumped from 9.87% to 10.74%, leading to 16.43% decline in operating profit to Rs 34.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 77.55% to 74.75%. Employee cost increased from 5.59% to 6.17%. Other expenses rose from 6.97% to 8.35%.

Other income fell 9.21% to Rs 1.38 crore. Provision for interest fell 10.89% to Rs 22.83 crore. Loan funds rose to Rs 79.27 crore as of 31 March 2021 from Rs 78.56 crore as of 31 March 2020. Inventories declined from Rs 59.67 crore as of 31 March 2020 to Rs 58.55 crore as of 31 March 2021. Sundry debtors were lower at Rs 109.00 crore as of 31 March 2021 compared to Rs 120.60 crore as of 31 March 2020. Cash and bank balance declined from Rs 24.23 crore as of 31 March 2020 to Rs 18.35 crore as of 31 March 2021. Investments rose to Rs 0.40 crore as of 31 March 2021 from Rs 0.36 crore as of 31 March 2020 .

Provision for depreciation rose 7.11% to Rs 7.08 crore. Fixed assets declined from Rs 96.04 crore as of 31 March 2020 to Rs 92.70 crore as of 31 March 2021.

Profit before tax down 42.86% to Rs 6.20 crore. Provision for tax was expense of Rs 1.84 crore, compared to Rs 0.18 crore. Effective tax rate was 29.68% compared to 1.66%.

Profit after tax fell 59.14% to Rs 4.36 crore.

Promoters' stake was 51.64% as of 31 March 2021 compared to 51.64% as of 31 March 2020.

The scrip is currently trading around Rs 68 on the BSE