For quarter ended March 2017

The net sales have increased by 4% to Rs 206.05 crore. OPM has decreased by 100 bps to 7.6% due to rise in raw material cost along with advertising and promotion cost to adjusted net sales. The operating profit de-grew by 8% to Rs 15.70 crore.

Interest cost declined by 75% to Rs 0.45 crore. Depreciation has increased by 3% to Rs 4.34 crore. The PBT declined by 1% to Rs 11 crore.

Total tax outgo decreased by 6% to Rs 3.70 crore. Tax rate declined from 35.30% to 33.64%. The net profit inclined by just 1% to Rs 7.30 crore due to fall in OPM.

For the year ended March 2017

The net sales inclined by 3% to Rs 806.54 crore. OPM has inclined by 60 bps to 7.8% due to fall in A&P cost, employee cost and other expenditure to adjusted net sales. The operating profit increased by 11% to Rs 63.20 crore.

Interest cost declined by 15% to Rs 4.55 crore. Depreciation has increased by 8% to Rs 17.22 crore. The profit before tax before EO inclined by 17% to Rs 41.58 crore.

EO income for the year was Rs 4.21 crore due to interest on income tax. Total tax outgo has increased by 26% to Rs 15.38 crore. Tax rate declined from 34.36% to 33.59%. The net profit inclined by 24% to Rs 28.96 crore due to rise in OPM and EO income.

Consolidated performance for the year ended March 2017

The net sales inclined by 3% to Rs 806.54 crore. OPM has inclined by 60 bps to 7.9%. The operating profit increased by 12% to Rs 63.69 crore. The profit before tax before EO inclined by 19% to Rs 42.15 crore. The company has reported a net profit of Rs 29.31 crore, a rise of 26%.

Other Developments

The promoters shareholding stood at 51.77%

The board of directors has declared a dividend of Rs 2 per equity share or FY 2016-17.

Valuation

The scrip is trading around Rs 531.30 on BSE.