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Net sales for quarter ended June'15 stood at Rs 239.32 crore, up by 3% YoY. OPM stood at 10.8%, up by 110 bps thus resulting in OP growth of 34% to Rs 25.93 crore. Other income was more or less flat at Rs 0.72 crore. Interest costs was down by 21% to Rs 2.29 crore resulting PBDT growth of 39% to Rs 24.84 crore. Depreciation was down by 9% to Rs 3.18 crore resulting a 51% growth in PBT to Rs 21.66 crore. After paying total tax of Rs 7.04 crore, up by 54% YoY, PAT for the quarter ended June'15 stood at Rs 14.62 crore, up by 50% YoY.
Mr Vayu Garware, CMD, Garware Wall Ropes Ltd. said,
"The good set of numbers registered this quarter is a reflection of our sustained efforts to serve highly customised applications across sectors, bearing yields. With continued focus on an expanded product portfolio and newer geographies, we expect demand from both the domestic and international markets to continue thus bolstering performance in the coming quarters as well. "
Performance for the year ended March 2015
Net sales for FY 2015 stood at Rs 784.25 crore, up by 14% YoY. OPM stood at 10.4%, up by 90 bps thus resulting in OP growth of 24% to Rs 81.44 crore. Other income was up by 25% to Rs 83.15 crore. Interest costs was down by 20% to Rs 10.25 crore resulting PBDT growth of 36% to Rs 72.90 crore. Depreciation was down by 14% to Rs 12.39 crore resulting a 55% growth in PBT to Rs 60.51 crore. After paying total tax of Rs 17.46 crore, up by 41% YoY, PAT for the year ended Mar 2015 stood at Rs 43.05 crore, up by 61% YoY.
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