Yearly performance

Net sales (including other operating income) has declined 32% to Rs 1507.7 crore.  Operating profit margin has slumped from 21.7% to 20.2%, leading to 37% decline in operating profit to Rs 304.77 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 34.46% to 27.95%.   Employee cost increased from 18.80% to 25.17%.   Other expenses rose from 25.08% to 26.66%.   Other income rose 16% to Rs 14.49 crore.  Provision for interest fell 3% to Rs 24.31 crore.  Provision for depreciation fell 5% to Rs 114.89 crore.   Profit before tax shrink 48% to Rs 180.06 crore.  Share of profit/loss were nil in both the periods. EO income was Rs 13.19 crore against nil in previous year. The Company has reassessed its performance royalty liability recorded in earlier years post the intellectual property appellate board (IPAB) order and has accordingly written back Rs 13.194 crore. Thus PBT was down 44% to Rs 193.25 crore.  Provision for tax was expense of Rs 51.83 crore, compared to Rs 73.19 crore.  PAT was down 49% to R 141.42 crore. Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 49% to Rs 141.42 crore.  

Other developments

The Board of Directors have recommended a final dividend of Rs. 3 per equity share of Rs 10 each for the year ended March 3 1, 2021.

Equity capital stood at Rs 174.96 crore as of 31 March 2021 to Rs 174.96 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 71.81% as of 31 March 2021,compared to 71.66% as of 31 March 2020.  Promoters pledged stake was 24.28% as of 31 March 2021,compared to 40.40% as of 31 March 2020.