The company's total operating income grew by healthy 31% to Rs 209.19 crore in March 2010 quarter. However increase in raw material cost pulled down the operating profit margin (OPM) by 420 bps to 11.2% resulting in 4% decline in operating profit to Rs 23.51 crore. In terms of cost, as % to sales net stock adjusted, raw material cost grew by 720 bps to 34%. Also the cost of traded goods grew by 180 bps to 4%. On the other hand, other expenditure slipped by 180 bps to 21% while the staff cost slumped by 320 bps to 19%.

The PBT before EO spurted by whopping 91% to Rs 17.10 crore courtesy robust non operating performance. The other income spurted by outstanding 391% to Rs 8.01 crore. The interest cost crashed by 50% to Rs 2.72 crore while the depreciation cost slipped by 1% to Rs 11.69 crore. However on account of EO expense of Rs 5.71 crore representing the loss incurred on sale of investments in Satara Rubbers & Chemicals Ltd (wholly owned subsidiary) against nil in March 2009 quarter, the growth in PBT after EO was pulled down to 27% to Rs 11.39 crore. Fortunately, the net profit was lifted by 29% to Rs 11.35 crore due to 150 bps decline in effective tax rate.

The promoters' share in the total shareholding stood unchanged at 74.98% in Mar 10 quarter. The promoters' have pledged nil shares of the company.

Currently the scrip is trading at Rs 127.60 on BSE.