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For the quarter ended Sep 18, the company reported net sales of Rs 99.19 crore, up by 14%. OPM was higher by 50 bps to 8.2%, resulting in the OP growth of 21% to Rs 8.10 crore. Other income was down by 24% to Rs 0.42 crore. Interest costs was higher by 6% to Rs 4.35 crore and depreciation was higher by 5% to Rs 1.39 crore. Thus, PBT was up by 54% to Rs2.78 crore. After providing total tax of Rs 1.03 crore, up by 75% YoY, PAT for the Sep 18 quarter stood at Rs 1.75 crore, up by 43% YoY.
Performance for 6 months ended Sep 18
For 6 months ended Sep 18, net sales were up by 14% to Rs 190.83 crore. OPM was flat at 9.6%, thus resulting in a 14% increase in OP to Rs 18.34 crore. After providing interest cost of Rs 11.68 crore, up by 7% and depreciation cost of Rs2.75 crore up by 3%, PBT stood at Rs 4.76 crore up by 38% YoY. After providing total tax of Rs 1.64 crore up by 41%, PAT for 6 months ended Sep 18 stood at Rs 3.12 crore up by 36% 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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