Other income increased 24% to Rs 5.51 crore compared to Rs 4.46 crore. Interest cost was Rs 49 lakh compared to Rs 64 lakh. Depreciation was up 9% to Rs 3.38 crore. PBT was up 45% to Rs 46.44 crore.  

Provision for taxation rose 81% to Rs 12.34 crore after which PAT stood at Rs 34.1 crore against Rs 25.29 crore. Further considering share of profit of JV and associate Net profit rose 36% to Rs 39.57 crore. 

The impact of the government imposed nation-wide lock down due to the Covid-19 pandemic was temporary as requisite approvals had been obtained by the Parent Company during the end of April 2020 through May 2020 to resume its manufacturing operations across its plants. As a result of this lock down / restrictions, production in the Parent Company's plants could not be carried out till such approvals were obtained and consequently impacted sales and other operations. The current economic environment could temporarily result in a lower demand in FY'21 vis-a-vis FY'20. The Parent Company has gradually ramped up its production from May/June 2020 and in view of the management, a steady increase in operational levels is expected.

Consolidated Performance for half year ended Sep20 

In H1FY21, sales fell 20% to Rs 529.48 crore. OPM rose 270 basis points to 12.3% which saw OP rise 1% to Rs 64.89 crore.  

Other income rose 14% to Rs 10.9 crore and interest cost decreased 15% to Rs 1.05 crore. As deprecation grew 15% to Rs 6.82 crore, PBT went up 2% to Rs 67.9 crore.  

Provision for taxation fell 2% to Rs 18.22 crore after which PAT stood at Rs 49.71 crore against Rs 47.91 crore. Further considering share of profit of JV and associate Net profit rose 2% to Rs 56.98 crore 

The company declared an interim dividend of Rs 100 per share. 

The scrip is currently trading at Rs 4469