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Foseco India reported a 13% increase in net sales for Dec'15 quarter to Rs 72.96 crore. OPM was up by 30 bps to 16.2%, resulting in OP growth of 15% to Rs 11.79 crore. As most of the company's raw material is crude oil-based, lower crude oil prices means lower raw material prices, resulting in higher margins for the company. Other income stood at Rs 0.26 crore down by 81% YoY. Interest and depreciation costs stood at Rs 0.01 crore and Rs 1.14 crore respectively, after which PBT stood at Rs 10.90 crore, up by 6% YoY. With total tax of Rs 3.40 crore, down by 1% YoY, PAT for Dec'15 quarter stood at Rs 7.50 crore, up by 10% YoY.
Performance for the year ended Dec'15
Net sales for 12 months ending Dec'15 stood at Rs 292.14 crore, up by 11% YoY. OPM was up by 250 bps to 17.3% leading to a 29% rise in OP to Rs 50.68 crore. Other income was down by 44% to Rs 1.89 crore. After providing interest costs of Rs 0.12 crore, down by 29% and depreciation of Rs 4.54 crore, down by 2% , PBT stood at Rs 47.91 crore, up by 27%. Total tax for 12 months ending Dec'15 was up by 23% to Rs 16.18 crore, leading to a 29% increase in PAT to Rs 31.73 crore for the 12 months ending Dec'15 on YoY basis.
The Promoters hold about 74.98% share capital in the company and none of them are pledged
The company has recommended payment of final dividend of Rs 7 per equity shares of Rs 10 each for the year ended Dec'15. This, in addition to the year to date, 3 interim dividends aggregating Rs 19.50 per share, brings the cumulative dividend for the year to Rs 26.50 per share.
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