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For the quarter ended Mar 19 net sales stood at Rs 191.31 crore, up by 47% YoY. OPM stood at 12.8%, down by 540 bps thus restricting OP growth to 3% on YoY basis to Rs 24.51 crore. Other income was down by 59% to Rs 7.43 crore. There was an interest income of Rs 2.41 crore as compared to interest expense of Rs 0.37 crore for Mar 18 quarter. Depreciation was lower by 2% to Rs 2.86 crore. PBT thus stood at Rs 28.71 crore, down by 31% YoY. Total tax provision stood at Rs 11.88 crore down by 20% on YoY, thus resulting in PAT of Rs 16.83 crore down by 36% on YoY basis.
Performance for the 12 months ended Mar 19
For the 12 months ended Mar 19, net sales stood at Rs 739.07 crore up by 20% on YoY basis. OPM improved by 270 bps to 14.3% resulting in OP growth of 49% to Rs 105.38 crore. Other income was down by 52% to Rs 33.93 crore. Interest expense stood at Rs 0.49 crore and depreciation was lower by 10% to Rs 11.37 crore. This has resulted in a PBT of Rs 127.45 crore down by 3% YoY. After providing total tax of Rs 46.52 crore up by 9% YoY, PAT for 12 months ended Mar 19 stood at Rs 80.93 crore, down by 9% YoY.
The board has declared a dividend of Rs 3 per equity share of face value of Rs 10 each.
Ingersoll Rand plc, the ultimate holding company of Ingersoll Rand (India) Company') and Gardner Denver holdings Inc. (Acquirer) issued a press release on 30 Apri1 2019, announcing to have entered into an arrangement which upon completion would entitle the Acquirer, Indirectly through Its various subsidiaries ability to exercise 74% at the voting share capital and control of the company which is currently held by Ingersoll Rand Company.
Citigroup Global Markets India Pvt Limited on behalf of Gardner Desseer Holdings Inc. (Acquirer) and Charns Merger Sub Inc., a person acting in concert with the Acquirer, has issued a public announcement on7 May 2019 for acquisition of upto 8,207,560 fully paid up equity shares from the public shareholders of the Company, constituting 26% of the Fully diluted voting equity share capital of the company. The Public announcement has been made in terms of the Securities and Exchange Board of India Regulations 2011. The completion of the said acquisition is subject to certain conditions including the receipt of regulatory clearance.
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