• Strong growth in Sales: The Sales grew by 47% YoY to Rs 833.14 crore for the quarter ended September 2014. Its operations were affected for a brief period during October 2014 on account of HUDHUD cyclone at Visakhapatnam. The loss to Assets amounted to about Rs 10 crore which is covered under the Company's insurance policies.

• Margins fall: The Operating Profit Margins fell by sharp 710 bps YoY (up by 20 bps QoQ) to 36.8% on the back of sharp rise in raw material cost (up by 390 bps YoY) despite fall in staff cost (down by 60 bps YoY) and other expenses (down by 40 bps YoY) as percentage to sales and net of stock adjustments. Eventually, Operating profit grew by 23% YoY to Rs 306.80 crore. After the sharp 111% growth in other income to Rs 11.22 crore, EBIDTA grew by 25% to Rs 318.02 crore.

• Sharp fall in forex gain in Q2, PAT grew by 12% YoY: With meager interest cost (Rs 0.43 crore vis-à-vis Rs 0.39 crore) and after higher depreciation (up by 30% YoY to Rs 29.26 crore) PBT before forex gain grew by 25% YoY to Rs 288.33 crore. After adjusting for lower forex gain (down by sharp 86% YoY to Rs 4.32 crore), PBT grew by 12% YoY to Rs 292.65 crore. Thanks to the lower effective tax rate (down by 40 bps YoY to 21.5%) PAT grew by 12% YoY to Rs 229.64 crore.

Standalone Half-Yearly Performance:

The Sales grew by 36% YoY to Rs 1475.80 crore for the half-year ended September 2014. However, OPM fell by sharp 440 bps to 36.7% and after this operating profit grew by 22% YoY to Rs 541.97 crore. After the 39% growth in other income to Rs 22.56 crore, EBIDTA grew by same 22% YoY to Rs 564.53 crore. With meager interest cost (Rs 0.79 crore vis-à-vis Rs 0.80 crore) and higher depreciation (up by 44% YoY to Rs 62.52 crore), PBT before forex gain grew by 20% YoY to Rs 501.22 crore. After adjusting to the sharp fall in forex gain (down by 92% YoY to Rs 5.67 crore), PBT grew by subdued 3% YoY to Rs 506.89 crore. Thanks to the fall in effective tax rate (down by 120 bps YoY to 21.6%) PAT grew by 5% YoY to Rs 397.57 crore.

Other information:

The scrip was down by 3.57% to Rs 1894.95 at BSE, India on 04^th November 2014.