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For the quarter ended June 2019, it registered a 11% rise in consolidated sales to Rs 868.146 crore. OPM fell 90 bps to 14.6%, which saw OP rise 5% to Rs 126.36 crore.
Other income fell 39% to Rs 29 lakh and interest cost grew 21% to Rs 27.50 crore. As depreciation stagnated at Rs 39.39 crore, PBT went up 1% to Rs 59.76 crore.
Tax rose 1% to Rs 15.11 crore after which PAT went up 1% to Rs 44.66 crore.
Minority interest grew 19% to Rs 87 lakh after which net profit went up 1% to Rs 43.79 crore.
FY 2019 results
In FY 2019, it registered a 15% rise in consolidated sales to Rs 3563.74 crore. OPM fell 60 bps to 14.7% which saw OP rise 11% to Rs 523.50 crore.
Other income jumped 50% to Rs 3.22 crore and interest cost grew 13% to Rs 98.65 crore. As depreciation grew 6% to Rs 146.15 crore, PBT went up 13% to Rs 291.93 crore.
Based on past experience working of depreciation has been changed wef 1st October, 2018 based on Realistic useful life of Plant & Machineries including moulds, resulting lesser depreciation of Rs 6.19 crore year to date.
Tax grew 13% to Rs 73.42 crore (tax incidence stayed at 26%) after which PAT went up 13% to Rs 208.51 crore.
Minority interest grew 18% to Rs 5.79 crore after which net profit went up 12% to Rs 202.73 crore.
Consolidated segment performance
During the quarter Polymer Products grew 11% to Rs 615.83 crore and contributed 71% of the total revenue. PBIT grew 7% to Rs 63.31 crore and accounted for 72% of total
During the quarter Composite Products grew 11% to Rs 252.31 crore and contributed 29% of the total revenue. PBIT grew 8% to Rs 24.67 crore and accounted for 28% of total
In FY 2019, Polymer Products grew 15% to Rs 2527.03 crore and contributed 71% of the total revenue. PBIT grew 11% to Rs 266.55 crore and accounted for 71% of total
In FY 2019, Composite Products grew 15% to Rs 1036.71 crore and accounted for 29% of the total revenue. PBIT grew 16% to Rs 110.80 crore and accounted for 29% of total
Valuation
The stock trades at Rs 67.
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