For quarter ended June 2017

The net sales have decreased by 3% to Rs 187.80 crore. OPM has increased by 50 bps to 7.8% due to fall in raw material cost along with advertising and promotion cost to adjusted net sales. The operating profit grew by 4% to Rs 14.61 crore.

Interest cost declined by 82% to Rs 0.20 crore. Depreciation has increased by 6% to Rs 4.32 crore. The PBT inclined by 14% to Rs 10.11 crore.

Total tax outgo increased by 19% to Rs 3.61 crore. Tax rate inclined from 34.27% to 35.71%. The net profit inclined by 11% to Rs 6.5 crore due to fall in interest cost.

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.

Other Developments

The promoters shareholding stood at 51.77%

Valuation

The scrip is trading around Rs 510.85.