For the quarter ended Mar'17, the company reported consolidated net sales of Rs 612.58 crore. OPM stood at 19.6% resulting in OP growth to Rs 119.85 crore. There were some one off impact on account of unforeseen hitches in stabilizing the new units in Colombia and India and a further impact of demonetization on Indian operations.

Other income stood at Rs 5.58 crore. Interest cost and depreciation stood at Rs 15.10 crore and Rs 37.90 crore respectively, resulting in a PBT of Rs 64.16. There was a forex loss of about Rs 8.27 crore in Mar'17 quarter. After providing for total tax of Rs 18.62 crore and with profit from JV at Rs 0.55 crore, the consolidated PAT for Mar'17 quarter stood at Rs 46.09 crore.

Net Sales from Amesa region stood at Rs 247.21 crore that from EAP region net sales stood at Rs 140.17crore, from America region, net sales stood at Rs 122.69 crore and that from EU region stood at Rs 138.19 crore.

PBIT from Amesa region stood at Rs 37.37 crore that from EAP region, was at Rs 17.11 crore, from America region, it was at Rs 12.57 crore and for EU the PBIT stood at Rs 10.42 crore.

Business Highlights for the Quarter ended Dec 2016:

Sharply reduced revenue growth in India Operations on account of offtake contraction by FMCG customers following demonetization on 8th November 2016, estimated to cause revenue loss of Rs. 27 crore and EBIT reduction of Rs. 12 crore.

Impact of full consolidation of EDG (German subsidiary) effective 1st October 2016, revenue stood at Rs. 51.05 crore and EBIT Rs. (-) 1.75 crore for the Mar'17 quarter. EDG operations are being revamped to improve its profile to match Essel's margin profile in Europe. Europe excluding EDG shows a decline in the revenue due to delays in new customer development in the non-oral care category. However, the margin has been sustained.

ROE and ROCE on TTM basis is at 16.9% and 16.5% respectively.

Overall:

The quarter could have been much better, but for India growth stalling post demonetization. As the demand revives in India and EDG margin profile improves, the business should revert to healthy margin and profit growth in line with our 20:20:20 strategy.

Performance for the 12 months ended Mar'17

For the 12 months ended Mar'17, the company reported consolidated net sales of Rs 2302.29 crore. OPM stood at 18.3% resulting in OP growth to Rs 421.30 crore. There were some one off impact on account of unforeseen hitches in stabilizing the new units in Colombia and India and a further impact of demonetization on Indian operations.

Other income stood at Rs 35.30 crore. Interest cost and depreciation stood at Rs 57.53 crore and Rs 141.18 crore respectively, resulting in a PBT of Rs 257.59. There was a forex gain of about Rs 15.65 crore for 12 months ended Mar'17. After providing for total tax of Rs 18.62 crore and with profit from JV at Rs 1.05 crore, the consolidated PAT for 12 months ended Mar'17 stood at Rs 195.60 crore.

Net Sales from Amesa region stood at Rs 980.80 crore that from EAP region net sales stood at Rs 552.85 crore, from America region, net sales stood at Rs 482.77 crore and that from EU region stood at Rs 435.25 crore.

PBIT from Amesa region stood at Rs 127.81 crore that from EAP region, was at Rs 78.08 crore, from America region, it was at Rs 52.65 crore and for EU the PBIT stood at Rs 24.27 crore.