• Sale for the quarter was down by 4% to Rs 165.94 crore given gradual recovery in demand following opening up of manufacturing sector especially engineering following COVID lockdown in Apr-May 2020. And the value of production (VoP) for the period was down by 1% to Rs 164.22 crore. Sales for the period was 1.01 times of value of production and it was 1.04 times of corresponding previous period. Sales higher than value of production reflects liquidation of earlier period inventory.

• Operating profit margin expanded by 70 bps to 14% and that is largely due to fall in all cost heads barring that of cost of traded goods. Material cost as proportion to sales net of stocks was down by 390 bps to 44.9%. The staff cost was down by 10 bps to 10.8% and the OE was down by 60 bps to 12.5%. However the cost of traded goods was up by 430 bps to 17.7%. Thus hit by lower sales, the OP was up by 1% to Rs 23.25 crore.

Half Yearly performance

Standalone sales for the period was down by 18% to Rs 290.25 crore and with OPM contract by 230 bps to 11.4%, the operating profit was down by 32% to Rs 33.07 crore. The PBT was down by 30% to Rs 33.40 crore largely after accounting for higher OI, higher interest and lower depreciation. With taxation lower by 31% to Rs 8.54 crore the PAT was down by 30% to Rs 24.86 crore.