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Results
28-Apr-17
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Analysis
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Foseco India
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Margin pressure hurting the growth
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Foseco India reported a 12% increase in net sales for Mar'17 quarter to Rs 88.07 crore. OPM however was lower by about 310 bps to 13.1%, resulting in a fall in OP by 17% to Rs 11.58 crore. Adverse product mix and lower sales of high margin products affected the margins. Other income was higher by 32% to Rs 0.58 crore. Interest and depreciation costs stood at Rs 0.08 crore and Rs 1.30 crore respectively, after which PBT stood at Rs 10.78 crore, lower by 17% YoY. With total tax of Rs 3.58 crore, down by 23% YoY, PAT for Mar'17 quarter stood at Rs 7.20 crore, down by 14% YoY.
Performance for the 12 months ended Dec.16
The company reported a 16% increase in net sales for the 12 months ended Dec.'16 to Rs 339.51 crore. OPM was lower by about 120 bps to 16.1%, restricting the OP growth to 8% to Rs 54.69 crore. Other income stood at Rs 2.09 crore up by 11% YoY. Interest and depreciation costs stood at Rs 0.42 crore and Rs 5.05 crore respectively, after which PBT stood at Rs 51.31 crore, up by 7% YoY. With total tax of Rs 18.24 crore, up by 13% YoY, PAT for 12 months ended Dec.'16 stood at Rs 33.07 crore, up by 4% YoY.
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