The operating income grew by 24% to Rs 136.63 crore in June 2011 quarter. Spike in raw material costs pulled down the OPM by 80 bps to 18.3%. Thus the operating profit growth was constrained to 19% to Rs 25 crore. Raw material costs, as % to sales net stock adjusted, surged by whopping 490 bps to 41%. The remaining expenses declined i.e. cost of traded goods fell by 220 bps to 15%; other expenditure by 90 bps to 20% and staff cost by 50 bps to 6% respectively.

The PBT grew by 20% to Rs 21.72 crore on partially lifted by marginal depreciation cost. The depreciation cost grew by meager 5% to Rs 3.40 crore. The interest cost crashed by 59% to Rs 0.12 crore. The net profit grew by 20% to Rs 14.34 crore on 10 bps fall in effective tax rate.

In half year ended June 2011, the topline grew by 23% to Rs 257.02 crore. Fall in OPM by 40 bps to 18.4% limited the growth in operating profit to 20% to Rs 47.42 crore. Marginal growth in depreciation cost by 7% lifted the PBT by 22% to Rs 41.34 crore. Further fall in effective tax rate by 60 bps boosted the net profit by 24% to Rs 27.37 crore.

• New pressing complex was commissioned at Kolkata factory in July 2011. Installation and commissioning of other equipment would be completed by November 2011.
• The promoters' share in the total shareholding has remained unchanged at 55.57% in June 2011 quarter. The promoters' have pledged ‘nil' shares of the company.

Currently the scrip is trading around Rs 376.65 on BSE.