Key highlights

• The net sales for December 2014 quarter grew by 4% to Rs 383.74 crore. The main reason for the growth was only a slight improvement in the TamilNadu market and growth in the cooker and cookware divisions. . The net profit declined by7% to Rs 28.06 crore.

• Key markets such as Kerala and Karnataka have been affected during the quarter.

• Domestic sales grew by 3.5% to Rs 393 crore. Export sales grew by 18% to Rs 13.5 crore. The exports have started rising on the launch of the new product,

• Volume growth in Q3 being flat, the growth would therefore arise from price hikes.

• The cooker segment sales grew by 5% to Rs 135 crore, the cookware segment sales grew by 10% to Rs 78 crore and others grew by 45% to Rs 16 crore. Microwave cookers was flat at Rs 4 crore while appliances segment sales de-grew by just 3% to Rs 159 crore

• The company is gaining market share across categories.

• Of total sales, 58% was in the south, 42% was from the non-southern markets.

• The company added 17 Prestige Smart Kitchen stores in Q3, taking total number to 575.

• Current capacity utilization at the Gujarat plant is 40%, is likely to go up to 60-65% by FY16.

• The mgmt said that the e-tailing business has affected its business, which continues to cause channel conflicts resulting in reluctance of the other channels to stock up right through the quarter.

• The mgmt said the regional brands have become active in specific products in the appliance category especially in the South.

• The company has guided 12% revenue growth in Q4 FY15.