Other income fell 41% to Rs 7.17 crore and interest grew 767% to Rs 52 lakh. As depreciation grew 58% to Rs 4.41 crore, PBT fell 8% to Rs 29.43 crore.

Tax fell 8% to Rs 10.37 crore after which PAT fell 8% to Rs 19.06 crore.

Performance for the 12 months ended Mar 19

For the 12 months ended Mar 19, net sales stood at Rs 739.07 crore up by 20% on YoY basis. OPM improved by 270 bps to 14.3% resulting in OP growth of 49% to Rs 105.38 crore. Other income was down by 52% to Rs 33.93 crore. Interest expense stood at Rs 0.49 crore and depreciation was lower by 10% to Rs 11.37 crore. This has resulted in a PBT of Rs 127.45 crore down by 3% YoY. After providing total tax of Rs 46.52 crore up by 9% YoY, PAT for 12 months ended Mar 19 stood at Rs 80.93 crore, down by 9% YoY.

Valuation

The stock trades at Rs 591.