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For the third quarter ended December 2009, the revenue of the company increased 35% Y-o-Y to Rs 239.18 crore. The OPM for the quarter also improved 397 bps to 14.2% on the back of lower cost of purchase of traded goods and staff cost. PAT increased by 86% to Rs 20.64 crore due to improved margin.
For the twelve months ended December 2009, the revenue of the company improved by 13% Y-o-Y to Rs 836.69 crore, while the OPM marginally improved by 105 bps to 13% resulting in 23%. The PAT stood at Rs 64.95 crore, an increase of just 13%, due to rise in depreciation cost.
Performance for the quarter ended December 2009
For the third quarter ended December 2009, the revenue of the company increased 35% Y-o-Y to Rs 239.18 crore. The OPM for the quarter also improved 397 bps to 14.2% on the back of lower purchase of traded goods (970 bps lower to 31% of net adjusted revenue) and staff cost (200 bps to 10% of adjusted net sales), resulting in 87% growth in operating margin to Rs 33.94 crore. The other income has decreased by 66% to Rs 0.85 crore while depreciation charges increased by 34% to Rs 3.42 crore. The PBT has increased by 74% to Rs 31.27 crore. The tax outgo increased by 55% to Rs 10.63 crore. Despite it, PAT increased by 86% to Rs 20.64 crore due to improved margin.
Segment Results
Industrial & Transportation
The segmental revenue for the quarter was up 45% Y-o-Y to Rs 101.6 crore, while the PBIT margin inclined by 475 bps to 9.42% resulting in 182% increase in the PBIT to Rs 9.57 crore.
Health Care
The revenue from this segment for the quarter increased by 36% to Rs 35.42 crore and the segmental PBIT up by 68% to Rs 2.82 crore. The PBIT margin was also higher by 150 bps to 7.95%.
Safety, Security & Protection services
The segmental revenue for the quarter was up 10% Y-o-Y to Rs 35.85 crore, while the PBIT margin declined by 688 bps to 12.82% and the PBIT was also lower 28% to Rs 4.6 crore.
Other businesses (Consumer & offices and Display & graphics)
The segmental revenue for the quarter was up 29% and 9% Y-o-Y to Rs 21.33 crore and Rs 29.2 crore respectively. In consumer & offices, there was loss of Rs 0.42 crore PBIT level and in Display business PBIT was 36% lower at Rs 2.81 crore.
Performance for the twelve months ended December 2009
For the twelve months ended December 2009, the revenue of the company improved by 13% Y-o-Y to Rs 836.69 crore, while the OPM marginally improved by 105 bps to 13% resulting in 23% increase in operating profit to Rs 109.01 crore.
The other income has decreased from Rs 9.75 crore to Rs 3.06 crore on Y-o-Y while depreciation charges increased from Rs 7.23 crore to Rs 12.48 crore on Y-o-Y, mounting the pressure on bottom-line. With 2% increase in net tax expenses at Rs 34.19 crore, the PAT stood at Rs 64.95 crore, an increase of just 13%, due to rise in depreciation cost.
Promoters Holding
As of September 30, 2009, promoters hold 76.01% (same as at end of sequential quarter), foreign investors hold 5.49%, MFs, Banks and other institutions hold 5.9%, and others hold 12.62%. The promoters have not pledged any shares as on 31st December 2009.
The shares of the company are currently quoting at around Rs 1820 as on 1st February 2010.
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