OPM was up by about 150 bps to 16.3%, thus leading a 28% rise in OP to Rs 29.17 crore. Other income was up by 9% to Rs 4.50 crore. Depreciation was higher by 14% to Rs 4.18 crore. After providing total tax of Rs 10.20 crore, up by 34%, PAT for quarter ended Sep'16 stood at Rs 19.2 crore as compared to PAT of Rs 15.54 crore for Sep'15 quarter.

Performance for the 6 months ended Sep 2016

Net sales for 6 months ended Sep'16 stood at Rs 350.60 crore up by 14% YoY. Company's engine sales witnessed a healthy growth of 16.2% and stood at 43305 units for Sep'16 quarter. OPM was up by 170 bps to 16.4% resulting in a 28% increase in OP to Rs 57.56 crore. Other income was up by 7% to Rs 9.17 crore. Depreciation was up by 15% to Rs 8.13 crore. After providing total tax of Rs 20.31 crore up by 33%, PAT for the 6 months ended Sep'16 stood at Rs 38.25 crore up by 23%.

Performance for the 12 months ended Mar 2016

While the tractor industry after witnessing a de-growth in FY 2014-15, remained sluggish and registered further decline during FY 2015-16. However, net sales for Swaraj Engines stood at 64088 units more or less flat on YoY basis for FY'16.

Net sales of the company for 12 months ended Mar'16 stood at Rs 525.91 crore, down by 3% YoY. OPM was up by about 20 bps to 14%, thus leading a 2% fall in OP to Rs 73.59 crore. Other income was more or less flat at Rs 16.30 crore. Depreciation was up by 5% to Rs 13.80 crore. After providing total tax of Rs 24.85 crore, down by 4%, PAT for the 12 months ended Mar'16 stood at Rs 51.20 crore as compared to PAT of Rs 51.84 crore for the 12 months ended Mar'15.

Board of Directors declared a dividend of Rs 15 per share and a special dividend of Rs 18 per share, taking total dividend for FY 2015-16 to Rs 33 per share of face value of Rs 10 each.