Performance for quarter ended Dec'13

For Q4 CY'13, the net sale for Vesuvius India is up by 1% to Rs 155.34 crore. Raw material costs as a % to net sales, net of stock adjustments, is up by 290 bps to 41.8%. Employee costs and other expenditure as a % to net sales, net of stock adjustments is also up by 100 bps and 40 bps, respectively to 6% and 19.4%. These led the OPM to go down by 400 bps to 15.3% and thus OP was down by 20% to Rs 23.83 crore.

The other income was up by 165% to Rs 1.88 crore. There was an interest costs of Rs 7 lakh for Dec'13 quarter. Depreciation was up by 26% to Rs 5.17 crore. After providing total tax of Rs 6.88 crore, down by 20% YoY, PAT for Dec'13 quarter stood at Rs 13.59 crore, down by 23% y.o.y.

Performance for year ended Dec 2013

For year ended Dec'2013, the company reported net sales growth of 7% to Rs 601.75 crore. OPM was up by about 120 bps to 18.4%, resulting in almost 14% growth in OP to 110.85 crore. The other income was up by 176% to Rs 5.72 crore. The interest costs stood at Rs 7 lakh and depreciation was up by 7% to Rs 17.56 crore. After providing total tax of Rs 33.77 crore, up by about 26%, PAT was up by 17% and stood at Rs 65.17 crore for year ending Dec'13.

Other developments 

Board of Directors has recommended payment of dividend of Rs 4.75 per share for year ended Dec'13 which will be paid to shareholders on or after 8^th May'14.

On the occasion of 20^th Anniversary of commencement of commercial production at the first factory of company at Kolkata, Board of directors has declared a 20^th Anniversary special dividend of Rs 1 per share to the shareholders. This is an interim dividend for the year ended Dec'14 and record date will be 7^th Mar'14.

The promoter shareholding is around 55.57% and none of them are pledged.

Share price trades at Rs 460.