C B Chandrasekar Chief Financial Officer of the company addressed the call.

Exports stood at Rs 389 crore for the nine months, up 12.43%.

Textile machinery exports grew 17%, It exported mainly to Bangladesh (34%), Indonesia and Vietnam (20%), Nepal (8%) and Pakistan around (3%).

Other income fell due to reduction of interest income on FD. Also forex fluctuation impacted it to a tune of Rs 1 crore.

Employee expense grew by Rs 6 crore due to new Bonus act.

Domestic order book is Rs 2584 crore.

Export closing order book value is Rs 267 crore.

Machine tool order book is Rs 76 crore as on Dec 2015. 60-65% of orders will be executable in coming nine months.

Cash as on date is Rs 955 crore.

In Textile machinery division it is only into spinning. It is not into weaving.

During the quarter spare sales was Rs 13%. For the nine months it was Rs 220 crore, up 20% compare d to previous year.

In spares the OP margin is slightly better compared to machineries.

Automation and modernization will drive spinning market.

The company has 60.9% market share in India. This is against 64-65% few years ago. This is despite the company has not increased price for the last 5 years.

Domestic market is not seeing much growth so sustaining market share itself is difficult.

In New Textile Scheme there is not much subsidy scope for spinning.

In last 2-3 years the Textile Machinery division had order book of Rs 2500-3000 crore on an average

Export sale to China was Rs 40 crore during the nine months.

Order inflow for textile machinery division was Rs 386 crore for domestic business during the quarter.

Exports order inflow for textile machinery division was Rs 197 crore for the quarter. The same was Rs 323 crore during the nine months.

Oder inflow was Rs 1104 crore in domestic during the nine months.

For the quarter ended December 2015, it registered 15% rise in sales to Rs 651.63 crore. OPM grew 140 basis points from 12.7% to 14.1% which saw OP grow 28% to Rs 91.82 crore.

PBT grew 33% to Rs 94.75 crore. EO due to VRS was Rs 11 lakh against Rs 17 lakh. Thus PBT after EO grew 33% to Rs 94.63 crore. Tax grew 18% to Rs 31.14 crore after which PAT jumped 42% to Rs 63.49 crore.

For the nine months ended December 2015, it registered 6% rise in sales to Rs 1835.64 crore.

OPM improved 10 basis points from 12.4% to 12.5% which saw OP at Rs 229.57 crore, up 7%.

PBT grew 10% to Rs 242.35 crore. EO due to VRS was Rs 69 lakh against Rs 7.65 crore. Thus PBT after EO grew 14% to Rs 241.83 crore. Tax grew 8% to Rs 78.00 crore after which PAT went up 17% to Rs 163.83 crore.

During the quarter sales from Textile Machinery Division grew 12% to Rs 578.74 crore and accounted for 88% of sales. PBIT grew 51% to Rs 77.02 crore and accounted for 94% of total.

For the nine months, sales grew 5% to Rs 1644.62 crore and accounted for 88% of total. PBIT grew 17% to Rs 179.63 crore and accounted for 94% of total.

During the quarter sales from Machine Tool and Foundry Division jumped 31% to Rs 73.88 crore and accounted for 11% of sales. PBIT grew 50% to Rs 6.11 crore and accounted for 7% of total.

For the nine months, sales grew 8% to Rs 197.70 crore and accounted for 11% of total. PBIT improved 11% to Rs 17.13 crore and accounted for 9% of total.

During the quarter sales from Advanced Technology Center Division fell 1% to Rs 5.82 crore and accounted for 1% of sales. Loss at PBIT level stood at Rs 1.17 crore against a loss of Rs 1.67 crore and accounted for -1% of total.

For the nine months, sales from this division grew 31% to Rs 17.68 crore and accounted for 1% of total. Loss at the PBIT level fell 48% to Rs 5.03 crore and accounted for -3% of total.