For quarter ended March 2017

The net sales de-grew by 4% to Rs 577.72 crore. OPM has decreased by 11bps to 30.8% due to rise in purchase of finished goods, employee cost and other expenditures to adjusted net sales. The operating profit declined by 5% to Rs 178.11 crore.

Other income increased by 10% to Rs 9.18 crore. The interest cost increased 26% to Rs 16.80 crore while depreciation/amortization has declined by 15% to Rs 76.36 crore. Amortization of acquired trademarks / brands of Kesh King was Rs 62.33 crore. The profit before tax increased by 2% to Rs 94.13 crore

The tax outgo for the quarter stood at Rs 10.83 crore, inclined by 12%. The effective tax rate inclined from 10.49% to 11.5%. After considering minority interest, the net profit inclined by just 1% to Rs 83.32 crore due to decrease in amortization.

For year ended March 2017

The net sales have increased by 6% at Rs 2532.61 crore. The OPM has increased by 130bps to 30%. The operating profit inclined by 10% to Rs 759.13 crore.

Other income decreased by 30% to Rs 31.08 crore. The interest cost increased 7% to Rs 58.01 crore while depreciation/amortization has inclined by 21% to Rs 308.58 crore. The profit before tax flat at Rs 423.62 crore

The tax outgo stood at Rs 83.61 crore, inclined by 40%. The effective tax rate inclined from 14.12% to 19.73%. After considering minority interest, the net profit decreased by 6% to Rs 340.42 crore due to amortization and rise in tax rate.

Other Developments

The Board of Directors of the Company has recommended final dividend of Rs. 5.25 per share having face value of Re. 1/- each i.e 525% on the equity shares of the company for the financial year 2016-17

Valuation

The scrip is trading at Rs 1078.9 on BSE.

The total promoters holding in the company stand at 72.74%.