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Foseco India reported a 24% increase in net sales for Sep'14 quarter to Rs 69.59 crore. With OPM being up by 300 bps to 16.8%, OP was up by 50% to Rs 11.72 crore. Other income was lower by 79% to Rs 0.22 crore. Interest and depreciation costs also were lower by 40% and 25% to Rs 3 lakh and Rs 1.04 crore, PBT was up by 47% to Rs 10.87 crore. After total tax being up by 61% to Rs 4.02 crore, PAT for Sep'14 quarter stood at Rs 6.85 crore, up by 40% YoY.
Performance for the nine months ended Sep'14
For the nine months ended Sep'14, the company reported a 17% increase in net sales to Rs 199.08 crore. OPM was lower by 60 bps to 14.5%, resulting a 13% increase in OP to Rs 28.96 crore. Other income was up by 6% to Rs 2.04 crore. Interest costs and depreciation costs stood at Rs 0.09 crore and Rs 3.45 crore. Thus PBT for the nine months ended Sep'14 was up by 16% to Rs 27.46 crore. After providing total tax of Rs 9.69 crore, up by 22%, PAT for the nine months ended Sep'14 stood at Rs 17.77 crore, up by 13% 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 1000
Board of Directors has declared an interim dividend of Rs 6 per equity share of Rs 10 each. With this, total interim dividends declared for FY 2014-15 cumulatively stands at Rs 11 per share.
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