• Sales volume was up by 14% to 61695 MT and the realisation per MT was up by 16% to Rs 115937.74 there by facilitating 32% growth in operating income (excluding other operating income) to Rs 715.28 crore. Other operating income was up by 56% to Rs 25.33 crore driven by higher export benefits. Thus the total operating income was up by 32% to Rs 740.61 crore.
• A 10 bps contraction in OPM to 20.0% was largely due to higher material cost. Material cost as proportion to sales (net of excise and stocks) was up by 510 bps to 45%. However the staff cost was down by 100 bps to 3.9%. Similarly the OE was lower by 320 bps (to 32.3%). Thus facilitated by higher sales, the operating profit was up by 32% to Rs 147.81 crore.
• Other income was up by 122% to Rs 48.20 crore. The interest cost up by 3% to Rs 1.70 crore and the depreciation was up by 13% to Rs 18.05 crore. Thus the PBT was up by 51% to Rs 176.25 crore.
• Taxation was up by 83% to Rs 54.74 crore and thus the growth at PAT restricted to 40% to Rs 121.51 crore. Non-controlling interest was up by 257% to Rs 0.49 crore. Other comprehensive income net of tax was an income of Rs 7.05 crore compared to an expense of Rs 1.42 crore. Thus gained the total comprehensive income was up by 51% to Rs 128.07 crore.

Half yearly expenses

Sales was up by 29% to Rs 1455.84 crore and with 70 bps contraction in OPM to 20.8%, the operating profit was up by 25% to Rs 303.39 crore. After accounting for higher other income as well as higher interest and depreciation, the PBT was up by 36% to Rs 333.62 crore. The taxation was up by 52% to Rs 107.30 crore and thus the growth at PAT was restricted at 29% to Rs 226.32 crore. The non controlling interest was down by 27% to Rs 0.25 crore and the other comprehensive income was at Rs 18.66 crore, a swing of Rs 19.15 crore. And thus the total comprehensive income was up by 40% to Rs 244.72 crore.

Other developments

Order book as at 1st Oct 2018 stood at Rs 655 crore.