• Sales was up by 3% to Rs 194.90 crore. But the value of production was down by 1% to Rs 208.84 crore. The sales for the period was 0.93 times of its value of production. In comparison the sales of corresponding previous period was 0.9 times of its value of production. Sales lower than Value of Production reflects inventory build-up which will get liquidated in coming quarters.

• OPM expanded by 80 bps to 10.8% and that is largely due to lower material cost which more than offset the rise in other cost heads. The material cost as % of sales net of stocks was down by 260 bps to 78.9%. But the staff cost was up by 60 bps to 3.7% and the OE cost was up by 100 bps to 7.4%.

• Other income was up by 62% to Rs 9.88 crore. The interest cost was nil for the period as well as corresponding previous period. The depreciation was higher by 28% to Rs 2.10 crore. Thus the PBT was up by 23% to Rs 28.73 crore. The taxation was lower by 65% to RS 2.82 crore and thus the PAT was up by 68% to Rs 25.91 crore.

Half Yearly Performance

Sale for the quarter was up by 8% to Rs 382.22 crore. With OPM expand by 100 bps to 10.9%, the operating profit was up by 18% to Rs 41.56 crore. After accounting for higher other income (up by 29% to Rs 16.58 crore) and higher depreciation (up by 28% to Rs 3.97 crore) the PBT was up by 20% to Rs 54.17 crore. Taxation was down by 22% to Rs 11.37 crore and thus the PAT was up by 41% to Rs 42.80 crore.