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Grauer & Weil (India) net sales rose 15% to Rs 126.59 crore in Q3FY'18 compared to corresponding previous year period while net profit of the company increased 52% to Rs 20.09 crore.
Operating margins of the company rose 660 bps to 24% leading 58% increase in operating profits to Rs 30.34 crore. Cost of material consumed as a percentage of net sales (net of stock adjustment) fell 150 bps to 47.7%. Employee benefit expenses increased 10 bps to 12.4%. Purchase of stock in trade rose 10 bps to 0.6% while other expenses fell 320 bps to 16.2%. Other income rose 30% to Rs 1.65 crore. PBDIT increased 56% to Rs 31.99 crore.
Interest cost was up 21% to Rs 0.4 crore. PBDT increased 57% to Rs 31.59 crore.
Depreciation rose 8% to Rs 3.74 crore. PBT as a result rose 67% to Rs 27.85 crore. Considering 750 bps rise in effective tax rate to 27.9% net profit rose 52% to Rs 20.09 crore.
Performance for nine months ended December 2017
In 9MFY'18 net sales rose 13% to Rs 344.66 crore compared to corresponding previous year period while net profit of the company rose 27% to Rs 54.91 crore.
Operating margins of the company rose 220 bps to 23.3% leading 24% growth in operating profits to Rs 80.37 crore.
Other income rose 106% to Rs 5.81 crore. PBDIT increased 28% to Rs 86.18 crore.
Interest cost was down 3% to Rs 1.19 crore. PBDT improved 28% to Rs 84.99 crore
Depreciation rose 8% to Rs 11.13 crore. PBT as a result rose 32% to Rs 73.86 crore.
Considering 340 bps rise in effective tax rate to 25.7% net profit rose 27% to Rs 54.91 crore.
The scrip is currently trading at Rs 69.35
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