Other income stood at Rs 0.40 crore. Interest costs was down by 44% to Rs 9.49 crore and depreciation was higher by 1% to Rs 33.57 crore thus resulted in PBT being up by 41% to Rs 112.46 crore. Total tax being up by 43% to Rs 38.25 crore, PAT before Share of Profits from Associates was up by 40% to Rs 74.21 crore. There was a loss of Rs 17.67 crore from share of associates for Dec'14 quarter as compared to profit of Rs 7.92 crore for Dec'15 quarter. Thus, the consolidated PAT for Dec'15 quarter stood at Rs 82.13 crore, up by 133% YoY.

Consolidated performance for 6 months ended Dec'15

Supreme Industries reported consolidated net sales of Rs 1001.74 crore for 6 months ended Dec'15, which was more or less flat on YoY basis. OPM was up about 360 bps to 13.9%, thus resulting in a 35% increase in OP to Rs 245.91 crore. Sale from construction business stood at Rs Nil for the 6 months ended Dec'15 and for 6 months ended Dec'14 it stood at Rs 27.55 crore. Thus, OP including construction profit stood at Rs 245.91 crore, up by 17% YoY.

Other income stood at Rs 1.91 crore. Interest costs was down by 37% to Rs 19.44 crore and depreciation was lower by 2% to Rs 67.06 crore thus resulted in PBT being up by 43% to Rs 161.32 crore. Total tax being up by 45% to Rs 55.15 crore, PAT before Share of Profits from Associates was up by 42% to Rs 106.17 crore. There was a loss of Rs 14.45 crore from share of associates for 6 months ended Dec'14 as compared to profit of Rs 0.51 crore for 6 months ended Dec'15. Thus, the consolidated PAT for 6 months ended Dec'15 stood at Rs 106.68 crore, up by 77% YoY.

The board of directors has considered the payment of interim dividend for 9 months ended FY 2015-16, @125% i.e. Rs 2.50 per equity share of Rs 2 each.

Other developments

The company expects to incur a capex of about Rs 200 crore for 9 months ended March ‘16. The commercial production of new units to Kharagpur and Malanpur have commenced and shall achieve normalcy in Jan-Mar'16 quarter.

The prices of raw material continued its downward trend during Dec'15 quarter as well. Management expects overall raw material prices to remain in range bound fluctuations and affordable.

The company has received educational order from HPCL for 4500 pcs of composite cylinders comprising of 2 sizes ie 5kg and 10 kgs. Supplies are expected to be effective from Feb'16 onwards.

The company expects to achieve volume growth of around 12-15% for 9 months ended FY'16.

The company shall be closing its year at March every year from now onwards. Consequently the current financial year shall be a period of 9 months only from 1^st July'15 to 31^st March 2016.