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For the quarter ended Dec 17, consolidated net sales stood at Rs 595.05 crore up by 1% YoY. OPM stood at 19.2% up by 350 bps thus resulting an OP of Rs 114.31 crore up by 24% YoY. Other income stood at Rs 6.72 crore down by 67%. Interest cost and depreciation cost stood at Rs 14.04 crore and Rs 41.42 crore respectively. PBT stood at Rs 65.57 crore up by 12% YoY. There was an EO of Rs 4.98 crore due to translation loss on account of Egypt subsidiary. PBT after EO stood at Rs 60.59 crore up by 3% YoY. After providing total tax of Rs 20.18 crore and loss of share of associates of Rs 38 lakh, consolidated PAT for Dec 17 quarter stood at Rs 40.03 crore.
For the quarter, sales from the Amesa geography stood at Rs 223.67 crore PBIT from the same stood at 35.46 crore up by 67% YoY.
For the quarter, sales from the EAP geography stood at Rs 140.42 crore and PBIT from the same stood at Rs 23.28 crore up by 15% YoY.
For the quarter, sales from the America geography stood at Rs 126.21 crore and PBIT from the same stood at Rs 17.58 crore up by 10% YoY.
For the quarter, sales from the EU geography stood at Rs 118.83 crore and loss at PBIT level stood at Rs 1.33 crore as compared to profit at PBIT level of Rs 2.26 crore.
Overall
The quarter has been disappointing in terms of topline growth. While EAP, AMESA seem to indicate a recovery as regards growth, Europe and Americas need to step up. Colombia recovery measures and new customer acquisition in US is expected to help realize this. Europe has been a bigger disappointment for the year and corrective measures are underway to address the challenges in Europe.
Even while addressing the topline growth, the company is doing everything to sustain the business health in terms of cost, efficiencies and margins. Additionally, the company is actively promoting new innovations like GML and Mystik with a view to buffering the topline for future
The revenue growth has been muted due to continued uncertainty and supply chain re-balancing by customers in India following GST rollout as well GST correction in November 2017. Europe revenue is impacted by customer off take issues and delay in commercialization of new customers in Europe.
Net Debt as at Dec 17 end stood at Rs 600 crore as compared to Rs 703.50 crore for Mar 17.
ROE and ROCE on TTM basis is at 15.5% and 16.8% respectively.
Performance for the 9 months ended Dec 17
FY 17 financials include financials of EDG Germany from Oct 16 onwards and hence 9 months ended Dec 17 results and FY 17 financials are not comparable on YoY basis with 9 months ended Dec 16 and FY 16 financials respectively.
For the 9 months ended Dec 17, consolidated net sales stood at Rs 1795.48 crore. OPM stood at 19.4% resulting an OP of Rs 348.53 crore. Other income stood at Rs 17.51 crore. Interest cost and depreciation cost stood at Rs 41.36 crore and Rs 124.09 crore respectively. PBT stood at Rs 200.59 crore. After providing total tax of Rs 67.80 crore and loss of share of associates of Rs 1 crore, consolidated PAT for 9 months ended Dec 17 stood at Rs 126.81 crore.
For the 9 months ended Dec 17, sales from the Amesa geography stood at Rs 701.92 crore PBIT from the same stood at 102.93 crore.
For the 9 months ended Dec 17, sales from the EAP geography stood at Rs 431.79 crore and PBIT from the same stood at Rs 75.08 crore.
For the 9 months ended Dec 17, sales from the America geography stood at Rs 360.92 crore and PBIT from the same stood at Rs 46.10 crore.
For the 9 months ended Dec 17, sales from the EU geography stood at Rs 368.44 crore and PBIT from the same stood at Rs 6.83 crore.
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