• Gross sales was up by 2% to Rs 49.68 crore but the value of production was lower by 5% to Rs 48.50 crore. Eventually the sales including other operating income was up by 2% to Rs 45.57 crore.
• The 860 bps jump in operating profit margin is largely on account of lower material and staff cost. Material cost as proportion to sales net of stocks was lower by 1080 bps to 65.3%, the staff cost was lower by 50 bps to 4.7%. However the other expense was up by 190 bps to 13.7%. Thus spurred by marginally higher sales and jump in OPM, the operating profit was up by 121% to Rs 7.24 crore.
• Other income was up by 327% to Rs 0.35 crore. The interest cost was up by 49% to Rs 0.80 crore and the depreciation cost was down by 1% to Rs 1.71 crore. Thus the PBT ballooned up by 363% to Rs 5.08 crore.
• The taxation in absolute terms was higher at Rs 1.63 crore compared to Rs 0.11 crore in corresponding previous period. The tax rate was higher at 32.2% as compared to 10.2% in the corresponding previous period. Thus the growth at PAT moderated and stood at 250% to Rs 3.45 crore.

Yearly performance

Sales was lower by 2% to Rs 168.18 crore and with OPM expand by 580 bps, the operating profit was up by 58% to Rs 25.88 crore. After accounting for higher other income, lower interest, lower depreciation, the PBT was up by 159% to Rs 17.19 crore. The taxation was up by 209% to Rs 6.30 crore and thus the PAT was up by 136% to Rs 10.88 crore.

The company paid an interim dividend of 100% or Rs 1 per equity share of Rs 1 face value in March 2016. The Board at its meeting held on May 26, 2016 considered the interim dividend as final.

Currently the stock hovers around Rs 54.50.