For the quarter ended Mar 19 net sales from engineering segment stood at Rs 48.02 crore up by 44%. Net sales from Food division which account for 13% of total sales was up by 18% YoY. PBIT from engineering segment stood at Rs 7.37 crore up by 23% and PBIT margin stood at 15.3% as compared to 17.9% YoY. PBIT from food division stood at Rs 1.69 crore up by 196% with PBIT margin at 23.2% as compared to 9.2% for Mar 18 quarter.

Performance for 12 months ended Mar 19

For 12 months ended Mar 19, net sales were up by 28% to Rs 137.93 crore. OPM stood at 13.6% up by 70 bps, resulting in a 34% increase in OP to Rs 18.77 crore. Other income was down by 16% to Rs 3.45 crore. Depreciation was down by 4% to Rs 2.94 crore. After providing total tax of Rs 4.44 crore, up by 7% YoY, PAT for 12 months ended Mar 19 stood at Rs 14.09 crore, up by 37% YoY.

For 12 months ended Mar 19, net sales of engineering segment stood at Rs 117.65 crore and accounted for 85% of total sales. Net sales from food segment which account for 15% of total sales stood at Rs 20.27 crore. PBIT from engineering division stood at Rs 25.57 crore up by 24% and accounted for 86% of total PBIT. The PBIT from food division which accounted for 14% of total PBIT stood at Rs 4.20 crore up by 14% YoY.

The company had in its Board Meeting held on March 06, 2019 approved buyback of equity shares from open market through stock exchange mechanism for an aggregate amount not exceeding Rs. 11.00 Crore and at a price not exceeding Rs. 550.00 per Equity Share, payable in cash to the shareholders. The buyback had commenced on March, 19, 2019 and first extinguishment of equity shares had been done on April 02, 2019.

The board has recommended a final dividend of Rs 9 per equity share of face value of Rs 10 each for FY 19.