Quarterly Performance

The company's topline grew by healthy 27% to Rs 67.31 crore in June 2010 quarter. However the operating profit margin (OPM) crashed by 400 bps to 10.2% on high raw material costs. It in turn dragged down the operating profit by 9% to Rs 6.86 crore. In terms of cost, as % to sales net stock adjusted, the raw material cost surged by 540 bps to 50%. Also the other expenditure grew by 10 bps to 26%. Only the staff cost slipped by 160 bps to 13%.

The PBT reduced by 11% to Rs 3.45 crore limited by other income and interest cost. The other income spurted by impressive 66% to Rs 0.46 crore while the interest cost declined by 14% to Rs 1.05 crore. Only the depreciation cost grew by 4% to Rs 2.81 crore. Further crash in effective tax rate by 550 bps constrained the downfall in net profit to marginal 4% to Rs 2.56 crore.

Annual Performance

In year ended March 2010, the company's total operating income grew by 23% to Rs 236.30 crore. Increase in OPM by 200 bps to 12.2% lifted the operating profit by robust 48% to Rs 28.82 crore. Crash in interest cost by 30% to Rs 4.32 crore and flat growth of 1% in depreciation cost to Rs 10.94 crore boosted the PBT by whopping 246% to Rs 14.93 crore. Further the net profit settled with significant 249% growth to Rs 10.09 crore thanks to 60 bps decline in effective tax rate.

The promoters' shareholding stands unchanged at 62.01% for the quarter ended June 2010. None of the shares' held by promoters are pledged.

The Scrip is hovering at Rs 115.75 on BSE.