• Sales were lower by 8% to Rs 326.18 crore. Since sales for the corresponding previous quarter include excise unlike sales for the quarter which is net of GST, the figures are not comparable. The sales net of excise duty/GST was lower by 5% to Rs 326.18 crore.

• EBIT was down by 3% to Rs 36.69 crore. Down side at EBIT level was largely due to lower segment profit of both chemicals and consumer products. While segment profit of engineering was higher by 4% to Rs 18.04 crore but that of chemicals was down by 13% (to Rs 19.17 crore). The segment loss of consumer products stood lower at Rs 0.52 crore compared to a loss of Rs 1.59 crore in the corresponding previous period. Segment margin of engineering expanded by 150 bps to 8.6%. But the segment margin of chemicals was down by 320 bps to 20.1%. On the other hand the segment margin of consumer products continues to be negative at 1.6% coming down from 6.2% in corresponding previous period.

• Other income more than doubled (up 137%) to Rs 9.29 crore. However the interest cost was up by 58% (to Rs 4.94 crore) and that of depreciation was down by 14% to Rs 2.50 crore. Thus the PBT was down by 4% to Rs 35.26 crore.

• Taxation in absolute term was down by 9% to Rs 11.57 crore and the effective tax rate for the quarter was lower at 32.8% compared to 34.5% in the corresponding previous period. Thus the PAT was eventually lower by 2% to Rs 23.69 crore.

• Other comprehensive income was RS 0.15 crore but that in corresponding previous period was an expense of RS 0.09 crore. Thus the net profit was down by 1% to Rs 23.84 crore.

Yearly performance

Standalone sales net of excise were higher by 6% to Rs 985.9 crore. As OPM shrunk by 80 bps the operating profit stood lower by 8% to Rs 70.48 crore. After accounting for higher other income, higher interest and higher depreciation the PBT was up by 2% to Rs 72.83 crore. The tax provision was up by 3% to Rs 25.08 crore and thus the net profit was up by 2% to Rs 47.75 crore.

Consolidated sales were higher by 1% to Rs 1054.86 crore. The sales for the fiscal and corresponding previous period is not comparable as unlike corresponding previous period the sales is net of GST. Eventually the PAT was up by 38% to Rs 39.86 crore and the net profit after MI was up by 27% to Rs 38.84 crore.