Performance for the quarter ended December 2016

The top-line de-grew 2% at Rs 643.24 crore. During the quarter, there was an unforeseen liquidity crunch in the market that impacted trade inventories and consumer offtake. The company responded with agility by strengthening fundamentals to mitigate risk. The market has started showing early signs of recovery and the company will continue to focus on balance growth behind brand fundamentals, strength of product portfolio and improved in store executions.

OPM has inclined by 270 bps to 35.5% due to decrease in purchase of stock in trade, ASP and other expenses to adjusted net sales. The operating profit increased by 6% to Rs 228.60 crore.

Other income increased by 1% to Rs 20.81 crore. Interest cost increased by 52% to Rs 4.25 crore. Depreciation declined by 7% to Rs 13.81 crore. PBT has increased by 6% to Rs 231.98 crore.

The tax outgo inclined by 11% to Rs 81.36 crore. The effective tax rate inclined from 33.4% to 35.1%. The net profit has increased by 3% to Rs 150.62 crore due to increase in margin.

Performance for half year ended December 2016

The top-line inclined by 4% to Rs 1243.66 crore. OPM has inclined by 440 bps to 30.5%. The operating profit increased by 21% to Rs 379.76 crore.

Other income increased by 4% to Rs 43.32 crore. Interest cost increased by 5% to Rs 4.68 crore. Depreciation declined by 4% to Rs 25.89 crore. PBT has increased by 21% to Rs 392.51 crore.

The tax outgo inclined by 28% to Rs 137.45 crore. The effective tax rate increased from 33.2% to 35%. The net profit has increased by 18% to Rs 255.06 crore due to increase in margin.

The promoters hold 70.64% stake in the company

The shares of the company are trading around Rs 7020 at BSE.