For Quarter ended December 2011

The net sales has decreased by 7% to Rs 181.58 crore. Excluding Rath figures, the net sales has grown by 13%.

OPM stood at 8.5%. As a result of rise in margin, the operating profit stood at Rs 15.4 crore. Other income declined by 62% to Rs 0.54 crore. Depreciation has increased by 15% to Rs 1.5 crore. The PBT before EO stood at Rs 14.42 crore.

EO of Rs 17.45 crore in Q3 FY11 includes the profit on sale of Rath brand. There was no EO item for Q3 FY12. Total tax outgo decreased by 38% to Rs 3.19 crore. The company has reported a net profit of Rs 11.23 crore, a rise of 15%..

For nine months ended FY12

The net sales declined by 3% to Rs 529.38 crore. Excluding Rath figures, the net sales has grown by 18%.

OPM has inclined by 430 basis points to 6.8% due to fall in ASP cost by 300 basis points to 5%, purchase of traded goods by 160 basis points to 24% and raw material cost by 120 basis points to 47% of adjusted net sales. Due to rise in margin, there was rise in operating profit by 161% to Rs 36.18 crore.

Other income declined by 60% to Rs 1.62 crore. Depreciation has increased by 14% to Rs 4.14 crore. The profit before tax before EO inclined by 138% to Rs 33.6 crore.

There was no EO recorded for the first nine months. Total tax outgo has decreased by 10% to Rs 9.68 crore. The company has reported a net profit of Rs 23.92 crore, a rise of 15%.

Valuation

The scrip is trading around Rs 446.6 on BSE.

The promoter holds 51.77% stake in the company.