Performance for the quarter ended Dec'13

For the quarter ended Dec'13, the company reported a 3% fall in net sales to Rs 56.26 crore. Raw material costs, employee costs and other expenditure as a % to net sales net of stock adjustments were up by 60 bps, 360 bps and 170 bps respectively to 61%, 11.4% and 19.8%. Thus OPM was down by 420 bps to 7.4% leading to a 37% fall in OP to Rs 4.23 crore. Other income was down by 23% to Rs 0.62 crore. Interest costs and depreciation costs stood at Rs 0.08 crore and Rs 1.22 crore. Thus PBT for the quarter was down by 41% to Rs 3.55 crore. After providing total tax of Rs 1.39 crore, down by 30%, PAT for Dec'13 quarter stood at Rs 2.16 crore, down by 47% YoY.

Performance for the year ended Dec'13

Net sales for 12 months ending Dec'13 stood at Rs 226.91 crore, down by 8% YoY. OPM was down by 130 bps to 13.2% leading to a 16% fall in OP to Rs 29.96 crore. Other income was up by 53% to Rs 2.54 crore. After providing interest costs of Rs 0.26 crore, down by 43% and depreciation of Rs 5.11 crore, up by 10% , PBT stood at Rs 27.13 crore, down by 16%. Total tax for 12 months ending Dec'13 was down by 11% to Rs 9.31 crore, leading to a 18% fall in PAT to Rs 17.82 crore for the 12 months ending Dec'13 on YoY basis.

The Promoters hold about 74.98% share in the company and none of them are pledged

The scrip is trading at Rs 513

The Board of Directors of the Company at its meeting held on January 21, 2014, inter alia, has recommended payment of a final dividend of Rs. 15.50 per equity share of Rs. 10/- each for the year 2013. This includes a special one-time dividend of Rs. 12.50 per share. This is in addition to the interim dividend of Rs 9 per share which brings cumulative dividend for the year to Rs 24.50 per share.