Net sales of Petroleum products, which accounts for 99% of total revenue, stood at Rs 551.63 crore up by 21% for Mar 19 quarter. PBIT stood at Rs 53.73 crore, up by 16% YoY with PBIT margin at 9.7%. Net sales of Wind Power segment which account for 1% of total sales, stood at Rs 5.08 crore. Profit at PBIT level stood at Rs 0.67 crore as compared to loss at PBIT level of Rs 0.50 crore for Mar 18 quarter.

Performance for the 12 months ended Mar 19

For the 12 months ended Mar 19, net sales of Savita Oil Technologies were up 27% on YoY basis at Rs 2262.52 crore. OPM stood at 8.7% down by 170 bps on YoY basis thus at OP level, the company reported profit of Rs 196.79 crore up by 6% YoY. Other income was higher by 93% to Rs 18.40 crore. Interest was up by 111% to Rs 28.95 crore largely due to higher working capital requirements while depreciation costs were lower by 9% to Rs 23.53 crore. Thus, PBT stood at Rs 162.71crore up by 4% YoY. There was a 8% increase in total tax to Rs 48.44 crore, resulting in a 3% increase in PAT to Rs 114.27 crore. There was a PPI of Rs 14.98 crore pertaining to tax reversals in FY 18 and thus PAT for FY 19 stood at Rs 114.27 crore down by 9% YoY after considering the provision tax reversals of Prior periods.

Net sales of Petroleum products, which accounts for 98% of total revenue, stood at Rs 2236.21 crore up by 25% YoY. PBIT stood at Rs 181.91 crore, up by 11% YoY and accounted for 90% of total PBIT. Net sales of Wind Power segment stood at Rs 41.13 crore and accounted for 2% of total sales. PBIT stood at Rs 20.58 crore, up by 3% YoY and accounted for 10% of total PBIT.

The board has approved Buy back upto 2,51,000 fully paid-up equity shares of face value of Rs.10/-(Rupees Ten Only) each of the Company representing upto 1.75% of the total number of Equity Shares of the Company at a price of Rs.1,605/- (Rupees One Thousand Six Hundred Five only) per Equity Share.

The record date for buyback is fixed at 12 June 2019