Performance for the quarter ended Mar'14

For the quarter ended Mar'14, the company reported a 14% increase in net sales to Rs 63.83 crore. Raw material costs and other expenditure as a % to net sales net of stock adjustments were up by 520 bps and 170 bps respectively to 59.3% and 18%. Employee costs as a % to net sales net of stock adjustment was down by 70 bps to 9.5%. Thus OPM was down by 620 bps to 10.6% leading to a 27% fall in OP to Rs 6.79 crore. Other income was up by 127% to Rs 1.27 crore. Interest costs and depreciation costs stood at Rs 0.02 crore and Rs 1.10 crore. Thus PBT for the quarter was down by 19% to Rs 6.94 crore. After providing total tax of Rs 2.37 crore, down by 16%, PAT for March'14 quarter stood at Rs 4.57 crore, down by 21% 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 526