Performance for the quarter ended June 2017

The top-line de-grew 6% at Rs 502.87 crore due to volatile trade conditions. The market has started showing signs of recovery and the company will continue to focus on balanced growth, behind brand fundamentals, strength of product portfolio and improved in store execution.

OPM has declined by 380 bps to 26.1% due to increase in purchase of stock in trade and other expenses to adjusted net sales. The operating profit decreased by 18% to Rs 131.12 crore.

Other income decreased by 51% to Rs 10.83 crore. Interest cost increased by 305% to Rs 4.41 crore. Depreciation inclined by 59% to Rs 19.66 crore. PBT has decreased by 30% to Rs 117.88 crore.

The tax outgo declined by 32% to Rs 39.84 crore. The effective tax rate declined from 34.9% to 33.8%. As a result, the net profit has decreased by 29% to Rs 78.04 crore.

Performance for year ended June 2017

The top-line inclined by 2% to Rs 2320.40 crore despite challenges of liquidity crunch in the second quarter and trade destocking ahead of GST in the fourth quarter. The company responded to these challenges with agility and continued to strengthen brand fundamentals. OPM has inclined by 200 bps to 28.6%. The operating profit increased by 10% to Rs 664.63 crore.

Other income decreased by 12% to Rs 77.30 crore. Interest cost increased by 66% to Rs 10.42 crore. Depreciation inclined by 16% to Rs 59.74 crore. PBT has increased by 6% to Rs 671.77 crore.

The tax outgo inclined by 12% to Rs 239.04 crore. The effective tax rate increased from 33.5% to 35.6%. The net profit has increased by 2% to Rs 432.73 crore.

Other Developments

The Board of Directors has declared final dividend of Rs 27/- per Equity Share. 

The promoters hold 70.64% stake in the company

The shares of the company are trading around Rs 8161 at BSE.