• Downside in revenue was largely due to sharp fall in revenue of Hard Metal and Hand Metal Products (HMHM Products). The segment revenue of HMHM Products was down by 61% to Rs 73.50 crore (or 77% of total sales). The segment revenue of Machine solutions was down by 65% to Rs 22.10 crore (or 23% of sales).
• The EBIT was a loss of Rs 9.60 crore (against a profit of Rs 39.10 crore in corresponding previous period) hit by loss at both HMHM and machine solutions business dragged by sharp fall in revenue. The segment loss of machine solutions was Rs 1.0 crore compared to a profit of Rs 12.80 crore in the corresponding previous period. The segment loss of RS 8.60 crore compared to a profit of Rs 26.30 crore in the corresponding previous period.

Yearly performance

Sales was lower by 25% to Rs705.00 crore and that together with 530 bps erosion in OPM to 10.1% dragged the OP down by 51% to Rs 70.90 crore. After accounting for higher OI, higher interest and higher depreciation the PBT was down by 63% to Rs 47.20 crore. EO was an expense of Rs 5.10 crore compared to nil in the corresponding previous period. Thus the PBT after EO was down by 67% to Rs 42.10 crore. With taxation stand down by 81% to Rs 9.20 crore, the PAT was down by 58% to Rs 32.90 crore. With PPT stand lower by 91% to Rs 1.0 crore, the net profit was lower by 63% to Rs33.90 crore.

Segment profit of HMHM was down by 53% to Rs 47.40 crore with its sales down by 28% to Rs 428.10 crore and segment margin crash by 570 bps to 11.1%. However the segment profit of machine solutions more than doubled (up 135%) to Rs 30.60 crore with its sales was up by 30% to Rs 126.00 crore and segment margin jump by whopping 1090 bps to 24.3%.