• The 50 bps expansion in OPM to 8.4% is largely to do with lower construction cost and lower other expenses. While the material cost as % to sales net of stocks was up by 30 bps (to 13.9%), the other manufacturing cost was up 60 bps (to 1.5%), the establishment cost was up by 40 bps (to 3.8%) and the staff cost was flat at 4.9%, the construction expenses was lower by 140 bps and other expenses was lower by 70 bps to 63.1% and 4.3% respectively. Thus facilitated by 15% increase in sales and OPM expansion the operating profit was up by 23% to Rs 19.54 crore.
• Other income was higher by 478% to Rs 2.98 crore. The interest cost (net) was up by 44% to Rs 9.66 crore. The depreciation was higher by 6% to Rs 2.22 crore. Thus the PBT (before EO) was up by 39% to Rs 10.64 crore.
• EO income for the quarter as well as corresponding previous quarter was nil. The taxation was up by 54% to Rs 4.36 crore. Thus the net profit was eventually up by 31% to Rs 6.27 crore.

Yearly performance

Sales for the period were higher by 18% to Rs 819 crore. As OPM expand by 40 bps the operating profit was up by 23% to Rs 75.08 crore. Eventually the net profit was higher by 5% to Rs 24.06 crore hurt by lower other income, higher interest, depreciation and taxation.

Order book

Unexecuted order book as on date is Rs 2598 crore as against Rs 1561 crore in the corresponding previous period.

Dividend

The company to pay a dividend of Rs 2.40 per equity share of Rs 2 face value for 2013-14.

The stock hovers around Rs 171.50.