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Foseco India reported a 16% increase in net sales for June'15 quarter to Rs 75.96 crore. OPM was up by 260 bps to 18.2%, resulting in OP growth of 35% to Rs 13.79 crore. As most of the company's raw material is crude oil-based, lower crude oil prices means lower raw material prices, resulting in higher margins for the company. Other income stood at Rs 0.44 crore down by 41% YoY. Interest and depreciation costs stood at Rs 0.05 crore and Rs 1.10 crore respectively, after which PBT stood at Rs 13.08 crore, up by 36% YoY. With total tax of Rs 4.52 crore, up by 37% YoY, PAT for June'15 quarter stood at Rs 8.56 crore, up by 35% YoY.
Performance for 6 months ended June'15
For 6 months ended Sep'15, net sales are up by 9% to Rs 140.94 crore. OPM was up by 420 bps to 17.5%, resulting in a 43% growth in OP to Rs 24.61 crore. Other income stood at Rs 1.08 crore down by 43%. With interest costs at Rs 0.07 crore and depreciation at Rs 2.21 crore, PBT stood at Rs 23.41 crore, up by 41% YoY. After providing total tax of Rs 8.03 crore, PAT for 6 months ended June'15 stood at Rs 15.38 crore, up by 41% YoY.
Performance for the year ended Dec'14
Net sales for 12 months ending Dec'14 stood at Rs 263.37 crore, up by 16% YoY. OPM was up by 170 bps to 14.9% leading to a 31% rise in OP to Rs 39.19 crore. Other income was up by 33% to Rs 3.37 crore. After providing interest costs of Rs 0.17 crore, down by 35% and depreciation of Rs 4.65 crore, down by 9% , PBT stood at Rs 37.74 crore, up by 39%. Total tax for 12 months ending Dec'14 was up by 41% to Rs 13.51 crore, leading to a 38% increase in PAT to Rs 24.59 crore for the 12 months ending Dec'14 on YoY basis.
The Promoters hold about 74.98% share capital in the company and none of them are pledged
In addition to first interim dividend of Rs 3.50 per share, the company has declared 2nd interim dividend for CY 2015 of Rs 8 per share of face value of Rs 10 each. This bring total cumulative interim dividend of Rs 11.50 per share of face value of Rs 10 each for CY 2015.
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