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For the quarter ended Mar 19, the net sales of the company were up by 26% to Rs 517.32 crore due to better execution and lower base of Mar 18 quarter. OPM was up by about 70 bps to 12.1% resulting in a 34% increase in OP to Rs 62.55 crore. Other income was up by 43% to Rs 1 crore. Interest costs were higher by 71% to Rs 15.45 crore and depreciation costs was up by 19% to Rs 3.50 crore. After providing total tax of Rs 15.68 crore up by 28%, PAT for Mar 19 quarter stood at Rs 28.92 crore up by 25% YoY.
Performance for 12 months ended Mar 19
For 12 months ended Mar 19, net sales were up by 7% at Rs 1628.93 crore. OPM stood at 11.4% down by 50 bps, restricting OP growth to 2% to Rs 186.06 crore. Other income was up by 21% to Rs 3.15 crore. Interest cost was higher by 25% to Rs 53.58 crore and depreciation was up by 8% at Rs 11.73 crore. There is an EO loss of Rs 30.33 crore in 12 months ended Mar 18 period pertaining to provision of sales tax demand of past years as compared to EO gain of Rs 8.31 crore pertaining to compensation from central government for 12 months ended Mar 19. Thus, post EO, PBT stood at Rs 132.27 crore, up by 32% YoY. After providing total tax of Rs 45.96 crore, up by 34% YoY, PAT for 12 months ended Mar 19 stood at Rs 86.31 crore, up by 31% YoY.
Other updates
The balance value of the orders on hand as on 20 May 19 is Rs 5327 crore, as against Rs 3205 crore in the corresponding period of the previous year
The company has declared final dividend of Rs 3.5 per equity share of face value of Rs 2 each for FY 19.
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