Quarter Performance
The operating income grew by robust 53% to Rs 121.63 crore in Dec 2010 quarter. Crash in OPM by 350 bps to 8.5% drastically pulled down the operating profit growth to 8% to Rs 10.29 crore. Cost of traded goods, as % to sales net stock adjusted, increased to 9% from -1% in Dec 09 quarter. Also the staff cost grew by 360 bps to 12%. On the other hand, raw material cost fell by 30 bps to 48%. Also the other expenditure crashed by 790 bps to 23%.
The PBT grew by meagre 6% to Rs 9.53 crore due to other income and interest cost though depreciation cost was saving grace. The other income grew by flat 2% to Rs 2.61 crore while the interest cost surged by whopping 281% to Rs 0.61 crore. Only the depreciation cost fell by 6% to Rs 2.76 crore. Fortunately crash in effective tax rate by whopping 1640 bps boosted the net profit by healthy 34% to Rs 7.61 crore.
Annual Performance
The topline grew by robust 47% to Rs 468.11 crore in year ended Dec 2010. Spurt in OPM by 160 bps to 15.2% lifted the operating profit by impressive 65% to Rs 71.22 crore. The PBT before PPA grew by notable 62% to Rs 72.95 crore though constrained by other income and interest cost. Further on accounting increase in PPA and effective tax rate, the net profit growth was constrained though to notable 57% to Rs 51.06 crore.
The total promoters' holding in company stands unchanged at 80.02% in Dec 2010 quarter. The promoters' have pledged nil shares of the company.
The scrip was trading at Rs 167.50 on 11th Feb 2011 at BSE.
