Key Points:

• On Consolidated basis, for the quarter ended December 2013, Net Sales increased by 9.16% to Rs 391.6 crore from Rs 358.7 crore during the same quarter last year and Profit after Tax & Minority Interest is at Rs 42.16 crore against Rs 9.36 crore during the same quarter last year.

• For the nine months ended December 2013, Net Sales have grown by 3.86% to Rs 1094.6 crore from Rs 1053.9 crore during the same period last year and Profit after Tax & Minority Interest is at Rs 53.9 crore against Rs 24.6 crore during the same period last year.

• On Standalone basis, for the quarter ended December 2013, Net Sales stood at Rs. 263 crore from Rs. 273.7 crore during the same quarter last year and Profit after Tax increased to Rs. 36.9 crore against Rs. 6.81 crore during the same quarter last year.

• For the nine months ended 31st December 2013, Net Sales stood at Rs. 752.9 crore from Rs. 810.1 crore during the same period last year and Profit after Tax increased to Rs. 41.1 crore against Rs. 19.0 crore during the same period last year.

• Depressed situation in auto industry continue in India.

• The company is continuing with its localization efforts and the same are giving result.

• Q4 should be marginally better. Leading auto companies are coming up with new launches.

• Cost has been reasonably static during Q3 FY 14.

• Maruti registered positive volume growth in Q3 vs Q2 of this year. In addition to this, new launches from Maruti will be helpful for the company.

• The company added new customer - Isuzu during the quarter.

• Rural demand is expected to remain buoyant. Urban demand will also recover with time.

• In aluminium dye casting, capacity needs to be built. The company has 4 plants at 100 pct capacity utilization. The capacities range between 350 MT and 850 MT.

• EPAM contributes Rs 7.7 crore in Q3 FY14 as against Rs 4.1 crore in Q3FY13. Volumewise, there should be 200% increase from EPAM in FY 13-14 vis a vis last year.

• On a consolidated basis, EBITDA dipped 20 bps on qoq basis and it was due to product mix.

• Net debt stands at Rs 276 crore (including working capital).

• Expanding product line and looking at newer geographical segments to boost exports,

• Expect margins to improve by 100 bps plus by next year

• YTD capacity utilization is 65%.

• No plans of capacity expansion as of now.

• More shift towards diesel products will not affect the company as steering systems will not depend on that.

• In next three years, there should be some notable change in overall product portfolio