Tax provision was down 27% to Rs 11.78 crore (effective tax rate was down 440 bps to 26.6%) after which PAT rose 9% to Rs 32.57 crore.

The order book position of the company as on 1st October 2020 stood at Rs.1689 crore.

H1FY21 results

For 6 months ended Sep20, net sales were down by 8% to Rs 277.27 crore. OPM was down by 980 bps to 20.1% resulting in a 38% decrease in OP to Rs 55.72 crore. Other income was down by 42% to Rs 7.43 crore. Interest cost was up by 106% to Rs 5.87 crore while depreciation was up 8% to Rs 13.36 crore. This resulted in a 50% decline in PBT to Rs 43.92 crore. Tax provision was down 58% to Rs 12.27 crore (effective tax rate was down 520 bps to 26.8%) after which PAT grew by 66% to Rs 2.81 crore.

The scrip trades at Rs 187