• Sales was lower by 31% to Rs16.80 crore as the factories of the company shut due to COVID lockdown in April 2020 has impacted the sales of the company. But the value of production (VoP) was down by 40% to Rs 15.02 crore. Sales was 1.12 times of its VoP for the quarter and it was 0.97 times of VoP in corresponding previous period. Sales higher than VoP reflects liquidation of earlier period inventory.
• OPM expanded by marginal 30 bps to 17.6% largely due to fall in material cost. The material cost as % of sales was down by 1310 bps to 32.6%. The staff was up by 210 bps to 4.8% and the OE was up by 800 bps to 42.9%. Thus hit by lower sales the OP was down by 30% to Rs 2.95 crore.

Yearly performance

Sales was up by 20% to Rs 99.87 crore and that together with 450 bps expansion in OPM to 19.7% saw the operating profit up by 56% to Rs 19.70 crore. After accounting for higher OI, lower interest and higher deprecation, the PBT was up by 70% to Rs 17.56 crore. With taxation stand higher by 85% to Rs 3.52 crore, the PAT was up by 67% to Rs 14.04 crore.