The company reported net sales of Rs 97.25 crore, which was down by 3% on YoY basis, for the quarter ended Mar 18. OPM was lower by 420 bps to 17.2% resulted in OP fall of 21% to Rs 16.76 crore. Other income was up by 13% to Rs 2.59 crore. Depreciation was higher by 23% to Rs 1.54 crore. Interest cost was at Rs 18 lakh for the quarter. PBT stood at Rs 17.63 crore, down by 21% YoY. There was an EO gain of Rs 19.28 crore pertaining to sale of office premises in Mar 18 quarter as compared to Nil for Mar 17 quarter. Thus, PBT after EO stood at Rs 36.91 crore up by 66% YoY. After providing total tax of Rs 8.46 crore up by 17% YoY, PAT for Mar 18 quarter stood at Rs 28.45 crore, up by 90% YoY.
Electrical Insulation segment sales stood at Rs 79.95 crore and accounted for 82% of total sales. PBIT of the segment stood at Rs 13.76 crore, down by 19% YoY and accounted for 85% of total PBIT.
Engineering & Electronics Resins segment sales stood at Rs 17.42 crore and accounted for 18% of total sales. PBIT of the segment stood at Rs 2.34 crore, down by 46% on YoY basis and accounted for 15% of total PBIT.
Performance for the 12 months ended Dec 17
The company reported net sales of Rs 382.56 crore, which was higher by 5% YoY basis for the 12 months ended Dec 17. OPM being lower by 90 bps resulted in flat OP of Rs 78.70 crore. Other income was up by 12% to Rs 8.57 crore. Depreciation was higher by 8% to Rs 5.59 crore. Interest costs stood at Rs 21 lakh as compared to Rs 21 lakh for 12 months ended Dec 16. PBT stood at Rs 87.06 crore, up by 1% YoY. After paying total tax of Rs 26.14 crore down by 1% YoY, PAT for the 12 months ended Dec 17 stood at Rs 55.33 crore up by 2% YoY.
Electrical Insulation segment sales were up by 4% and stood at Rs 311.86 crore. PBIT of the segment stood at Rs 62.85 crore, down by 2% YoY and accounted for 81% of total PBIT.
Engineering & Electronics Resins segment sales stood at Rs 71.77 crore, up by 9% for 12 months ended Dec 17 on YoY basis. PBIT of the segment stood at Rs 14.89 crore, up by 5% on YoY basis and accounted for 19% of total PBIT.
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