• Operating profit margin expanded by just 10 bps to 6.8%. This can be explained by higher material cost. Material cost as proportion to sales net of stocks was up by 120 bps to 87.5%. However that of staff cost & OE was down by 50 bps (to 2.1%) and 70 bps (to 3.5%) respectively. Thus gained largely by higher sales, the operating profit was up by 39% to Rs 21.03 crore.
  
• Other income was down by 42% to Rs 0.24 crore. Thus PBIDT was up by 37% to Rs 21.27 crore. However with interest cost up by 43% to Rs 3.85 crore and depreciation up by 37% to Rs 2.90 crore, the growth at PBT was restricted to 35% to Rs 14.52 crore.
  
• Taxation was up by 50% to Rs 5.57 crore and thus the PAT was up by 27% to Rs 8.95 crore.

Yearly performance

Standalone sales were higher by 28% to Rs 1027.25 crore. But with operating margin stand lower at 6.1% compared to 6.4% in corresponding previous period, the operating profit stood up by 23% to Rs 62.83 crore. After accounting for higher other income, higher interest and higher depreciation the growth at PBT was 25% to Rs 41.76 crore. Taxation in absolute term was up by 29% to Rs 15.36 crore and thus the PAT was up by 23% to Rs 26.40 crore. The PPT was a write back of Rs 0.11 crore, a fall of 74%. Thus the PAT after PPT was up 21% to Rs 26.51 crore. Finally the net profit was up by 18% to Rs 44.49 crore as other comprehensive income up by 13% to Rs 17.98 crore.

Consolidated sales were up by 42% to Rs 1138.16 crore and the OPM contracted by 40 bps to 6%. Thus the operating profit was up by 34% to Rs 68.54 crore largely gained by higher sales. The PBT before profit from JV/associate was up by 30% to Rs 43.53 crore. The share of profit from JV was a loss of Rs 0.16 crore compared to a profit of Rs 0.16 crore in the corresponding previous period. Thus the PBT was up by 29% to Rs 43.37 crore. The taxation was up by 32% to Rs 15.73 crore and thus the PAT was up by 28% to Rs 27.64 crore. Eventually the total comprehensive income was up by 19% to Rs 44.93 crore.

Other developments

Subject to share holders approval the company to pay a final dividend of Rs 1.25 per equity share of Rs 5 face value for FY2017-18.