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For the quarter ended June 18, the company reported net sales of Rs 91.64 crore, up by 14%. OPM was lower by 50 bps to 9.4%, restricting the OP growth to 8% to Rs 8.58 crore. Other income was down by 8% to Rs 0.44 crore. Interest costs was higher by 3% to Rs 5.67 crore and depreciation was higher by 3% to Rs 1.37 crore. Thus, PBT was up by 21% to Rs 1.98 crore. After providing total tax of Rs 0.61 crore, up by 7% YoY, PAT for the June 18 quarter stood at Rs 1.37 crore, up by 28% YoY.
Performance for 12 months ended Mar 18
For 12 months ended Mar 18, net sales were up by 13% to Rs 365.38 crore. OPM was lower by 50 bps to 9.7%, thus resulting in a 7% increase in OP to Rs 35.46 crore. After providing interest cost of Rs 22.94 crore, up by 4% and depreciation cost of Rs 5.06 crore down by 3%, PBT stood at Rs 9.22 crore up by 17% YoY. After providing total tax of Rs 2.95 crore up by 10%, PAT for 12 months ended Mar 18 stood at Rs 6.27 crore up by 21% YoY.
The company is now approved as a prequalified supplier with Samsung Engineering Co. for their International orders. This global level approval, which is for a period of 5 years starting from 1st August 2018, shall now enable Cords Cable Industries to participate in future bids for supplying qualified products to Samsung Engineering Co.'s range of engineering services' portfolio which includes upstream and downstream hydrocarbon facilities, power plants, water and waste treatment plants, and industrial production facilities.
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