• Operating income net of GST/excise was higher by 16% to Rs 63.11 crore
• OPM expanded by 140 bps to 13.9% and that was largely due to lower material and staff cost. Material cost as proportion to sales net of stocks was lower by 200 bps to 68.7%. Similarly that of staff cost was down by 10 bps to 5.4%. However the OE was higher by 50 bps to 11.4%.
• Other income was higher by 657% to Rs 0.62 crore and thus the PBIDT was up by 37% to Rs 9.38 crore. The interest cost was down by 23% to Rs 0.45 crore. And the depreciation was up by 2% to Rs 1.68 crore. Thus the PBT was up by 57% to Rs 7.26 crore.

• EO income was Rs 0.66 crore compared to an expense of Rs 0.37 crore in the corresponding previous period. Thus the PBT after EO was up by 86% to Rs 7.92 crore.

• The taxation in absolute terms was up by 10% to Rs 1.60 crore, but the tax rate was lower at 20.3% compared to 34.1% in corresponding previous period. Thus the net profit was higher by 125% to Rs 6.31 crore.

Yearly performance

Standalone sales were higher by 5% to Rs 201.17 crore. But with operating profit margin contract by 280 bps to 13.5%; the fall in operating profit was 13% to Rs 27.08 crore. Helped further by higher other income, lower interest and depreciation, the PBT before EO was down at 9% to Rs 20.45 crore. The EO income was RS 3.05 crore compared to an expense of Rs 0.50 crore in the corresponding previous period. Spurred thus the PBT after EO was up by 6% to Rs 23.51 crore. The taxation was down by 9% to Rs 7.10 crore in absolute terms and the tax rate was lower at 30.2% compared to 35.4% in corresponding previous period. Thus the PAT eventually stood higher by 15% to Rs 16.40 crore.

Consolidated sale was higher by 5% to Rs 201.17 crore. But with OPM contract by 280 bps to 13.5%, the operating profit was down by 13% to Rs 27.08 crore. After accounting for higher other income, lower interest and depreciation, the PBT before EO was down by 9% to Rs 20.45 crore. EO Income was Rs 3.05 crore compared to an expense of Rs 0.50 crore in corresponding previous period. Thus spurred by higher EO income, the PBT after EO stood higher by 6% to Rs 23.51 crore. The taxation in absolute numbers was down by 9% to Rs 7.11 crore. The minority interest was nil and the other comprehensive expense was down by 86% to Rs 0.03 crore. And thus the net profit was up by 17% to Rs 16.37 crore.

Other developments

To pay a final dividend of Rs 0.5 per equity share (or 50% of face value of Rs 1 each) for FY2018 in addition to the interim dividend of Rs 1 (100%) paid already.