• Downside in revenue was largely due to lower revenue from both metal forming business as well as that of transmission business of the company. While transmission business segment register a fall of 45% to Rs 148.33 crore (or 76% of sales) that of metal forming was down by 54% to Rs 46.30 crore (or 24% of sales).
• The PBIT was a loss of Rs 4.68 crore (compared to a profit of Rs 23.64 crore in the corresponding previous period) hit largely by lower profit from transmission and loss at metal forming. Hit by lower sales as well as 480 bps contraction in segment margin, the segment profit of transmission was down by 85% to Rs 2.56 crore. Similarly, the segment profit of metal forming was a loss of Rs 7.24 crore (against a profit of Rs 6.37 crore) hit by lower sales.

Pledged portion of promoter holding remained around 22% q-o-q.

Yearly performance

Consolidated sales was lower by 9% to Rs 1542.83 crore and with OPM stand lower by 20 bps to 12.1%, the operating profit was down by 10% to Rs 186.25 crore. However the PBT (before EO) was down by 26% to Rs 96.01 crore hit largely by higher interest and depreciation as OI stood higher by 30% to Rs 3.66 crore. With EO income stand higher by 56% to RS 18.83 crore, the fall at PBT after EO stood moderated to stand at 19% to Rs 114.84 crore. With taxation stand lower by 46% to Rs 24.72 crore, the PAT was down by 7% to Rs 90.12 crore. Eventually the net profit after MI was down by 8% to Rs 91.63 crore hit largely by lower share of profit from associate.

Segment profit of transmission was down by 2% to Rs 105.58 crore hit largely by lower sales, which was down by 5% to Rs 1188.36 crore. The segment profit of metal forming was down by sharp 76% to Rs 9.99 crore dragged by lower sales (down 20% to Rs 354.47 crore) and sharp 650 bps contraction in segment margin to 2.8%.