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For the quarter ended Dec 18, the company reported net sales of Rs 112.35 crore, up by 28%. OPM was down by 70 bps to 9%, restricting in the OP growth to 18% to Rs 10.08 crore. Other income was down by 16% to Rs 0.42 crore. Interest costs was higher by 11% to Rs 6.08 crore and depreciation was higher by 8% to Rs 1.46 crore. Thus, PBT was up by 36% to Rs 2.96 crore. After providing total tax of Rs 1.02 crore, up by 13% YoY, PAT for the Dec 18 quarter stood at Rs 1.94 crore, up by 53% YoY.
Performance for 9 months ended Dec 18
For 9 months ended Dec 18, net sales were up by 19% to Rs 303.18 crore. OPM was down by 20 bps to 9.4%, thus resulting in a 16% increase in OP to Rs 28.43 crore. After providing interest cost of Rs 29.70 crore, up by 14% and depreciation cost of Rs 4.21 crore up by 5%, PBT stood at Rs 7.72 crore up by 37% YoY. After providing total tax of Rs 2.65 crore up by 29%, PAT for 9 months ended Dec 18 stood at Rs 5.07 crore up by 42% 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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