Net sales from Pump segment, which constitute about 78% of total sales, grew by 3% to Rs 189.03 crore. Net sales from Valves segment which constitute about 14% of total sales, grew by 4% on YoY basis to Rs 34.34 crore. PBIT for Pump segment de-grew by 15% to Rs 20.11 crore on YoY basis. PBIT margin for the segment stood at 10.6% as compared to 12.9% for June 16 quarter. Loss at PBIT level for Valve segment stood at Rs 0.50 crore as compared to loss at PBIT level of Rs 1.03 crore for the June 16 quarter.

Performance for the 6 months ended June 17

For the 6 months ended June 17 net sales of the company stood at Rs 415.66 crore, which was up by 1% on YoY basis. OPM decreased by 230 bps to 10.6%, thus resulted in an OP of Rs 44.07 crore down by 17% YoY. Other income for June 17 quarter stood at Rs 16.71 crore up by 16% YoY. Thus, PBIDT was lower by 10% to Rs 60.78 crore. With interest costs being higher by 114% to Rs 2.37 crore and depreciation were up by 2% to Rs 14.76 crore, PBT was lower by 16% to Rs 43.65 crore. With total tax of Rs 14.96 crore, down by 17% YoY, PAT for the 6 months ended June 17 stood at Rs 28.69 crore, down by 16%.

Net sales from Pump segment, which constitute about 78% of total sales was flat on YoY basis at Rs 372.45 crore. Net sales from Valve segment which constitute about 14% of total sales, grew by 2% to Rs 68.05 crore. PBIT for Pump segment was lower by 16% at Rs 40.66 crore. PBIT margin for the segment stood at 10.9% as compared to 13% for 6 months ended June 16. PBIT for Valve segment stood at Rs 0.59 crore as compared to loss at PBIT of Rs 0.53 crore for 6 months ended June 16.