• Operating revenue (excluding other operating income) though was higher by 4% to Rs 25.46 crore, the value of production for the quarter was higher by 11% to Rs 25.67 crore.
• Contraction in operating margin to the extent of 90 bps was largely on account of higher staff cost and other expenses. While the material cost as proportion to sales net of stocks was lower by 130 bps to 40.4%, that of staff and other expenses was higher by 240 bps (to 20.7%) and 110 bps (to 19.5%) respectively and thereby more than offsetting the gain of lower material cost. Lower material cost is on account of softening trend in steel prices especially pig iron. Hurt by lower margin the operating profit stood declined by 1% to Rs 4.99 crore inspite of 4% growth in sales.
• Other income (net) was an expense of Rs .02 crore, a fall of 36%. The interest cost was down by 1% to Rs 43 lakh. The depreciation was up by 21% to Rs 65 lakh. Thus the PBT was down by 3% to Rs 3.88 crore. With taxation lower by 27% to Rs 1.06 crore, the PAT was up by 10% to Rs 2.82 crore.

Annual performance

Sales were higher by 16% to Rs 88.71 crore. With OPM contract by 10 bps to 18.1% the growth at operating profit moderated to 15% to Rs 16.04 crore. On the back of lower other income and higher depreciation, the growth at PBT further moderated to 12% to Rs 12.03 crore. After accounting for higher taxation the PAT was up by 11% to Rs 8.06 crore.

To pay a dividend of Rs 2.50 per equity share of Rs 10 each for FY2012-13.