"Our profit growth continues to be as per expectation and the margins are improving significantly due to the growth of our differentiated value added products in both domestic and international markets. This reflects the continued efficacy of our strategy and focus. However, due to the reduction in polymer prices amongst other factors, the value growth in Q2 has been muted. "

Performance for 6 months ended Sep'15

Net sales for half year ended Sep'15 stood at Rs 453.62 crore, up by 13% YoY. OPM stood at 11.6%, up by 150 bps thus resulting in OP growth of 29% to Rs 52.41 crore. Other income was down by 10% at Rs 1.05 crore. Interest costs was down by 25% to Rs 3.95 crore resulting PBDT growth of 35% to Rs 49.51 crore. Depreciation was up by 2% to Rs 6.42 crore resulting a 43% growth in PBT to Rs 43.09 crore. After paying total tax of Rs 13.10 crore, up by 36% YoY, PAT for the half year ended Sep'15 stood at Rs 29.99 crore, up by 46% YoY.

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.