Quarter Performance
Reflecting the boom in the auto industry, the operating income grew by impressive 73% to Rs 166.57 crore in March 2011 quarter. However increased traded goods costs led to 30 bps fall in OPM to 18.3% which was otherwise limited by decline in the remaining expenses including raw material costs. Cost of traded goods, as % to sales net stock adjusted, grew by whopping 850 bps to 10%. On the other hand, the raw material costs crashed by 400 bps to 45% while the other expenditure crashed by 310 bps to 19%. Also the staff cost fell by 220 bps to 8%. The operating profit growth was constrained though to whopping 70% to Rs 30.44 crore.
Favourable non operating performance across led to PBT growth of whopping 85% to Rs 31.80 crore. The other income grew by significant 102% to Rs 4.22 crore while the depreciation cost fell by 3% to Rs 2.69 crore. The interest cost grew by 113% to only Rs 0.17 crore. The net profit almost doubled i.e. grew by 99% to Rs 22.98 crore boosted by 510 bps crash in effective tax rate.
The total promoters' holding in company stands unchanged at 80.02% in March 2011 quarter. The promoters' have pledged nil shares of the company.
The scrip closed at Rs 214.85 on 21st April 2011 at BSE.
