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Net sales for quarter ended Dec'15 stood at Rs 185.60 crore, flat on YoY basis. OPM stood at 13.2%, up by 340 bps thus resulting in OP growth of 36% to Rs 24.57 crore. Other income was up by 900% at Rs 1.20 crore. Interest costs was up by 59% to Rs 2.80 crore resulting PBDT growth of 40% to Rs 22.97 crore. Depreciation was up by 5% to Rs 3.26 crore resulting a 48% growth in PBT to Rs 19.71 crore. After paying total tax of Rs 5.10 crore, up by 60% YoY, PAT for the quarter ended Dec'15 stood at Rs 14.61 crore, up by 44% YoY.
"The quarterly performance continues to reaffirm our strategy of focusing on innovation, geographic expansion and operational excellence. In spite of easing input costs resulting in subdued value growth, we have seen healthy margin increases. We expect to maintain this growth in the coming months as well" said Mr. Vayu Garware, CMD, Garware – Wall Ropes Ltd.
Performance for 9 months ended Dec'15
Net sales for the 9 months ended Dec'15 stood at Rs 639.22 crore, up by 9% YoY. OPM stood at 12%, up by 200 bps thus resulting in OP growth of 31% to Rs 76.97 crore. Other income was up by 75% at Rs 2.26 crore. Interest costs was down by 3% to Rs 6.77 crore resulting PBDT growth of 37% to Rs 72.46 crore. Depreciation was up by 3% to Rs 9.68 crore resulting a 44% growth in PBT to Rs 62.78 crore. After paying total tax of Rs 18.19 crore, up by 42% YoY, PAT for the 9 months ended Dec'15 stood at Rs 44.59 crore, up by 45% YoY.
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