• Downside in revenue was largely driven by lower revenue reported by all business segments of the company. While the revenue of machinery & equipment manufacturing (M&E)was down by 37% to Rs353.98 crore (or 24% of sales) that of EPC revenue was down by 5% to Rs982.48 crore (or 66% of sales). The sugar was down by 3% to Rs155.95 crore and others was up by 923% to Rs3.07 crore.
• EBIT for the period was up by 10% to Rs105.27 crore with all segments report barring M&E report growth in profits. Hit by lower sales and 110 bps contraction in segment margin, the segment profit of M&E was down by 46% to Rs 22.93 crore. However despite lower sales the segment profit of EPC was up by 20% to Rs 51.18 crore as its segment margin expand by 100 bps to 5.2%. The segment profit of sugar was up by 170% to Rs 37.85 crore.

Nine month performance

Consolidated sales was down by 12% to Rs 3807.87 crore but with OPM expand by 320 bps to 8.8%, the OP was up by 37% to Rs333.33 crore. The PBT was up by 40% to Rs260.06 crore hit by lower OI, higher interest and higher depreciation. The share of profit from associate was flat at Rs 0.14 crore. The EO was nil for the period as well as corresponding previous period. With taxation stand higher by 53% to Rs 75.65 crore, the PAT was up by 35% to Rs184.55 crore. After accounting for higherMI, the PAT (after MI) was eventually higher by 40% to Rs184.43 crore.

Other developments

To pay interim dividend of Rs 2 per equity share of Rs 1 each. The record date is Feb 25, 2021.