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Finetox chemical net sales rose 21% to Rs 486 crore in Q2FY'18 compared to corresponding previous year period while net profit of the company increased 3% to Rs 22 crore.
Operating margins of the company was flat at 23% leading 21% increase in operating profits to Rs 8.02 crore. Cost of material consumed as a percentage of net sales (net of stock adjustment) rose 890 bps to 52%. Purchase of stock in trade was down 1050 bps to 4%. Employee benefit expenses increased 80 bps to 44%. Other expenses fell 20 bps to 14%.
Other income fell 44% to Rs 15 crore. PBDIT decreased 1% to Rs 9.97 crore.
Interest cost was up 49% to Rs 0.13 crore. PBDT decreased 1% to Rs 9.84 crore.
Depreciation fell 5% to Rs 0.15 crore. PBT as a result fell 1% to Rs 9.69 crore. Considering 170 bps rise in effective tax rate to 32.2% PAT fell 4% to Rs 6.57 crore.
Performance for half year ended September 2017
In H1FY'18 net sales rose 12% to Rs 65.21 crore compared to corresponding previous year period while net profit of the company rose 4% to Rs 11.49 crore.
Operating margins of the company rose 30 bps to 22.7% leading 14% growth in operating profits to Rs 14.79 crore.
Other income fell 43% to Rs 2.96 crore. PBDIT decreased 2% to Rs 17.74 crore.
Interest cost was up 34% to Rs 0.24 crore. PBDT declined 3% to Rs 17.5 crore
Depreciation rose 12% to Rs 0.31 crore. PBT as a result fell 3% to Rs 17.19 crore.
Considering 90 bps fall in effective tax rate to 29.3% net profit rose 4% to Rs 11.49 crore.
The scrip is currently trading at Rs 42.4
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