Raw material cost fell 22% to Rs 131 crore and as a % to sales it fell from 68.5% to 51.8%.

Other income jumped 105% to Rs 5.11 crore. Interest cost was nil.

As deprecation fell 11% to Rs 1.77 crore, PBT grew 46% to Rs 38.08 crore.

Provision for taxation grew 46% to Rs 12.41 crore. Finally PAT went up 45% to Rs 25.67 crore.

FY 2015 results

In FY 2015 sales rose 5% to Rs 955.75 crore. OPM fell 220 basis points from 11.3% to 9.1% which saw OP falling 15% to Rs 87.40 crore.

Other income fell 1% to Rs 13.12 crore. Interest cost was nil.

As deprecation fell 15% to Rs 7.45 crore, PBT fell 13% to Rs 100.52 crore.

EO income was Rs 150.33 crore against loss of Rs 3.48 crore. Thus PBT after EO jumped 135% to Rs 243.40 crore.

EO item was due to sale of land and building at Royapuram amounting Rs 12.75 crore and depreciation written back due to change in depreciation method amounting to Rs 30.19 crore. In addition EO also includes profit on transfer of business on slump sale to JV company promoted with Nippon Oil Energy Corporation. Japan, amounting to Rs 107.39 crore.

Provision for taxation grew 104% to Rs 72.25 crore. Finally PAT grew 150% to Rs 171.15 crore.

Valuation

The diminution of value of investment of Rs 41 lakh held by the company is not of permanent nature and accordingly no provision has been made.

The share price trades at Rs 17300.