• Operating profit margin contracted by 410 bps to 7% hit by rise in all cost heads barring material cost. Material cost as % of sales was down by 360 bps to 5.1%. The operating cost was flat at 0.8%. However the construction expense was up by 270 bps to 74.1%, the staff cost was up by 360 bps to 8% and the OE was 150 bps to 5%. Staff cost for the quarter includes Rs 0.75 crore towards retrenchment compensation on account of closure of company's Yelhanka Factory at Bengaluru.

Yearly performance

Sales was down by 1% to Rs 1623.62 crore but with OPM up by 40 bps to 11.7%, the operating profit was up by 2% to Rs 190.34 crore. Other income was up by 58% to Rs 5.04 crore. The PBIDT was up by 3% to Rs 195.39 crore. The interest cost was up by 43% to Rs 76.58 crore and the depreciation was up by 57% to Rs 18.45 crore. Thus the PBT was down by 19% to RS 100.36 crore. With EO Exp stand lower at nil compared to an income of Rs 8.31 crore, the PBT after EO was down by 24% to Rs 100.36 crore on inflated base. The taxation was down by 41% to Rs 26.95 crore and thus the PAT was eventually down by 15% to Rs 73.41 crore.

Order Book

The estimated balance value of the order book as at Aug 18, 2020 was Rs 4445 crore (as against Rs 4354.83 crore as at 9th August, 2019 & compared to Rs 5007.79 crore as at June 20).

The company is L1 in one project having value of Rs 134.82 crore as at Aug 18, 2020.