• Sales of Machining solutions segment has gone down 8.31% to Rs 32.00 crore (accounting for 14.04% of total sales).  Sales of Hard metal and hard metal products segment has gone up 31.48% to Rs 195.90 crore (accounting for 85.96% of total sales).  
• Profit before interest, tax and other un-allocable items (PBIT) has jumped 53.81% to Rs 34.30 crore.  PBIT of Machining solutions segment fell 70.67% to Rs 2.20 crore (accounting for 6.41% of total PBIT).  PBIT of Hard metal and hard metal products segment rose 116.89% to Rs 32.10 crore (accounting for 93.59% of total PBIT).  
• PBIT margin of Machining solutions segment fell from 21.49% to 6.88%.  PBIT margin of Hard metal and hard metal products segment rose from 9.93% to 16.39%.  Overall PBIT margin rose from 12.13% to 15.05%.   

Nine Month performance

Net sales has increased 5% to Rs 641.8 crore.  Operating profit margin has jumped from 13.7% to 14.6%, leading to 12% rise in operating profit to Rs 93.50 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.32% to 26.67%.   Purchase of finished goods cost rose from 26.25% to 26.53%.   Employee cost increased from 14.81% to 15.25%.   Other expenses fell from 17.23% to 16.68%.     Other income rose 51% to Rs 5.6 crore.  Provision for interest fell 81% to Rs 0.3 crore.  Provision for depreciation rose 15% to Rs 28.5 crore.  Profit before tax grew 15% to Rs 70.30 crore.  

Share of profit/loss were nil in both the periods.  Extraordinary items were an expense of Rs 1.00 crore, a fall of 63%. Thus the PBT after EO was up 19% to Rs 69.30 crore. Provision for tax was expense of Rs 17.60 crore, compared to Rs 14.80 crore. Thus the PAT was up 22% to Rs 51.70 crore.  

Sales of Machining Solutions segment has gone down 32.30% to Rs 85.30 crore (accounting for 13.29% of total sales).  Sales of Hard Metal and Hard metal Products segment has gone up 15.12% to Rs 556.50 crore (accounting for 86.71% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has jumped 7.59% to Rs 89.30 crore.  PBIT of Maching Solutions segment fell 86.60% to Rs 4.10 crore (accounting for 4.59% of total PBIT).  PBIT of Hard Metal and Hard metal Products segment rose 62.60% to Rs 85.20 crore (accounting for 95.41% of total PBIT).  

PBIT margin of Machining Solutions segment fell from 24.29% to 4.81%.  PBIT margin of Hard Metal and Hard metal Products segment rose from 10.84% to 15.31%.  Overall PBIT margin rose from 13.62% to 13.91%.   

Other developments

Promoters' stake was 75.00% as of 31 March 2021,compared to 75.00% as of 31 March 2020.  

The Board of Directors in their meeting held on 4 December 2020 has approved a Scheme of Amalgamation ('Scheme') of its wholly owned subsidiary, WIDIA India Tooling Private Limited (‘WITPL') with its Holding Company, Kennametal India Limited (‘KIL' or ‘Company'). Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has furnished the Scheme details to the stock exchanges. The appointed date of the Scheme is 1 April 2021 and the Scheme is subject to the approval of the requisite shareholders and creditors of KIL and WITPL, National Company Law Tribunal ('NCLT') and the permission and approval of other statutory or regulatory authorities, as applicable. Further, the Scheme has received the approval from the shareholders and creditors on 12 April 2021 in NCLT convened meeting and petition to that effect will be filed with NCLT.