Other income decreased 68% to Rs 1.85 crore compared to Rs 5.7 crore. Interest cost was down 3% to Rs 15.57 crore. Depreciation rose 28% to Rs 57.59 crore. PBT before EO was up 17% to Rs 81.2 crore. The company had an EO expense of Rs 20.3 crore being impairment provision made towards loan given (including interest) on the basis of impairment assessment carried out by the management compared to nil in the corresponding previous year period. PBT after EO fell 12% to Rs 60.9 crore.

Tax expense during the quarter was credit of Rs 10 lakh compared to tax expense of Rs 20.48 crore. PAT reported was up 25% to Rs 61 crore. Further considering share of profit or loss of JV and associates and minority interest net profit rose 11% to Rs 59.29 crore.

For the quarter, sales from the Amesa geography stood at Rs 243.28 crore, up by 4% YoY and accounted for 32% of the total sales. PBIT from the same stood at Rs 25.77 crore down by 4% YoY and accounted for 27% of total PBIT with PBIT margins at 10.6%

For the quarter, sales from the EAP geography stood at Rs 174.9 crore, down by 5% YoY and accounted for 23% of total sales and PBIT from the same stood at Rs 34.3 crore down by 5% YoY with PBIT margin at 19.6%.

For the quarter, sales from the America geography stood at Rs 164.77 crore up by 15% and PBIT from the same stood at Rs 24.47 crore up by 27% YoY. PBIT margin stood at 14.9%

For the quarter, sales from the EU geography stood at Rs 173.99 crore up by 18% YoY and PBIT stood at Rs 11.73 crore up by 210% with PBIT margin at 6.7%.

Performance for the half year ended September 2019

For 6 mths ended Sep19, consolidated net sales rose 3% to Rs 1360.37 crore. OPM was higher by 130 bps to 19.2% thus resulting in a 11% increase in OP to Rs 261.08 crore. Other income was down 47% to Rs 8.48 crore. Interest cost stood at Rs 29.27 crore down by 1% and depreciation stood at Rs 114.4 crore up by 28% thus resulting in a PBT of Rs 125.89 crore down by 5%. There was net EO expense of Rs 9.39 crore (Rs.10.91 crore gain on sale of Land and Building of one of its factory and Rs. 20.30 crore being impairment provision made towards loan given (including interest) on the basis of impairment assessment carried out by the management) as compared to nil EO income/expense. Thus PBT after EO stood at Rs 116.5 crore down by 13%. After tax expense of Rs 15.2 crore down by 64%, PAT stood at Rs 101.3 crore up by 11%. Further considering share of profit or loss of JV and associates and minority interest net profit rose 4% to Rs 98.53 crore.

For the 6 mths ended Sep 19, sales from the Amesa geography stood at Rs 468.36 crore flat on YoY basis and accounted for 33% of the total sales. PBIT from the same stood at Rs 46.56 crore down by 24% YoY and accounted for 31% of total PBIT.

For the 6 mths ended Sep 19, sales from the EAP geography stood at Rs 313.71 crore, down by 8% YoY and accounted for 22% of total sales and PBIT from the same stood at Rs 52.19 crore down by 8% YoY with PBIT margin at 16.6%.

For the 6 mths ended Sep19, sales from the America geography stood at Rs 301.4 crore up by 9% and PBIT from the same stood at Rs 37.6 crore up by 10% YoY. PBIT margin stood at 12.5%

For the 6 mths ended Sep 19, sales from the Europe geography stood at Rs 325.71 crore up by 18% and PBIT from the same stood at Rs 15.01 crore up by 162% YoY. PBIT margin stood at 4.6%

The Board of Directors have declared interim dividend of Rs. 1.25 per equity shares of face value of Rs. 2 each. The Record date for the said purpose is fixed as 20 November 2019.

The scrip is currently trading at Rs 116