OPM was up by about 280 bps to 14.9%, thus leading a 80% rise in OP to Rs 22.99 crore. Other income was up by 19% to Rs 4.44 crore. Depreciation was higher by 22% to Rs 3.95 crore. After providing total tax of Rs 8.13 crore, up by 67%, PAT for quarter ended Dec'16 stood at Rs 15.30 crore as compared to PAT of Rs 8.35 crore for Dec'15 quarter.

Performance for the 9 months ended Dec 2016

Net sales for 9 months ended Dec'16 stood at Rs 505.37 crore up by 23% YoY. Company's engine sales witnessed a healthy growth of 24.6% and stood at 62455 units for Dec'16 quarter. OPM was up by 190 bps to 15.9% resulting in a 40% increase in OP to Rs 80.55 crore. Other income was up by 11% to Rs 13.61 crore. Depreciation was up by 17% to Rs 12.08 crore. After providing total tax of Rs 28.44 crore up by 41%, PAT for the 9 months ended Dec'16 stood at Rs 53.55 crore up by 35%.

Taking a note of the emerging demand scenario in the coming years and to timely cater the upcoming demand of its key customer, the Board of Directors have today also considered and approved the capacity enhancement project to increase its capacity to 120000 p.a from existing 105000 p.a by the end of next fiscal. This capacity expansion will be fully financed through the internal resources.