9M FY2020 results
In 9MFY 2020, it registered 20% fall in sales to Rs 380.35 crore. OPM fell 460 basis points to 6.7% which saw OP fell 52% to Rs 25.49 crore.
Other income grew 1% to Rs 4.68 crore and interest cost went down 37% to Rs 91 lakh. After providing for depreciation (up 12% to Rs 9.84 crore), PBT fell 60% to Rs 19.41 crore. Provision for tax fell 65% to Rs 5.85 crore after which PAT went down 57% to Rs 13.56 crore.
Slowdown in Auto and allied industries affected NBR business volumes and margins.Overall sluggishness in Indian market affected volumes to Paper, Carpet and Construction industries as well. Exports were down due to much lower monomer prices in Europe vs. Asia in Q3.
The stock trades at Rs 155.
