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For the quarter ended Mar 18, net sales grew by 12% to Rs 234.80 crore. OPM was up by 220 bps to 19.4% resulting in an 26% increase in OP to Rs 45.50 crore. Other income stood at Rs 1.74 crore as compared to loss of Rs 1.07 crore for Mar 17 quarter. Interest cost was up by 20% to Rs 2.26 crore and depreciation was up by 3% to Rs 4.01 crore leading to a PBT of Rs 40.97 crore up by 40% YoY. After providing total tax of Rs 11.61 crore, PAT for the Mar 18 quarter stood at Rs 29.36 crore up by 52% YoY.
Stating on the results, Mr. Vayu Garware, CMD, Garware-Wall Ropes Ltd. said, "The fourth quarter profit after tax has grown by 51.6% spurred by healthy revenues from our international business. We have been able to posit a strong profit for the full year and crossed the 100 crore profit after tax milestone on account of a double digit growth in our differentiated product basket. We look forward to accomplishing new benchmarks in the future."
Performance for 12 months ended Mar 18
For the 12 months ended Mar 18, net sales grew by 5% to Rs 884.61 crore. OPM was up by 210 bps to 18.1% resulting in a 19% increase in OP to Rs 160.49 crore. Other income was up by 111% to Rs 17.93 crore. Interest costs and depreciation was up by 53% and 8% respectively to Rs 9.98 crore and Rs 15.35 crore. After providing total tax of Rs 47.85 crore, PAT for Mar 18 quarter stood at Rs 105.24 crore up by 25% YoY.
Board recommends a final dividend of Rs 4.5 per equity share of face value of Rs 10 each for FY 18.
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