The total operating income grew by 23% to Rs 148.39 crore in Dec 2011 quarter. Increase in raw material cost (including traded goods) led to whopping 270 bps crash in OPM to 16.4%. Thus the operating profit growth was constrained to marginal 6% to Rs 24.29 crore. Raw material costs (including traded goods) grew by whopping 270 bps to 59%. Also the other expenditure increased by 50 bps to 20%. Only the staff cost fell by 30 bps to 5%.

The PBT after EO fell by 6% to Rs 20.02 crore on unfavorable non operating performance and nil EO income (against EO income of Rs 1.09 crore in Dec 2010 quarter). The depreciation cost grew by 20% to Rs 3.98 crore while it incurred interest cost of Rs 0.29 crore against interest income of Rs 0.67 crore in Dec 2010 quarter. However whopping 220 bps crash in effective tax rate limited the fall in net profit to 3% to Rs 13.31 crore.

In year ended Dec 2011, the topline grew by 23% to Rs 543.66 crore. However hike in raw material cum traded goods cost led to notable 130 bps crash in OPM to 17.8%. Thus the growth in operating profit was limited to 14% to Rs 96.71 crore. Crash in interest income (by whopping 61%) and nil EO income (as against Rs 1.09 crore in CY 2010) resulted in constrained 11% growth in PBT to Rs 82.68 crore. Nonetheless, 150 bps crash in effective tax rate lifted the net profit by 13% to Rs 55.22 crore.

• Board of Directors has recommended payment of dividend Rs 4.25 per share i.e. 42.5% for the year ended December 31, 2011.

• The promoters' share in the total shareholding has remained unchanged at 55.57% in Dec 2011 quarter. The promoters' have pledged ‘nil' shares of the company.

Currently the scrip is trading around Rs 374.95 on NSE.