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The company reported net sales of Rs 101.66 crore, which is by 10% on YoY basis, for the quarter ended June 18. OPM was lower by 310 bps to 16.2% resulted in OP fall of 8% to Rs 16.46 crore. Other income was up by 29% to Rs 2.79 crore. Depreciation was higher by 5% to Rs 1.57 crore. Interest cost was at Rs 5 lakh for the quarter. PBT stood at Rs 17.63 crore, down by 5% YoY. After providing total tax of Rs 5.5 crore down by 8%, PAT for June 18 quarter stood at Rs 12.13 crore down by 3% YoY.
Electrical Insulation segment sales stood at Rs 87.97 crore and accounted for 86% of total sales. PBIT of the segment stood at Rs 14.65 crore, flat on YoY basis and accounted for 87% of total PBIT.
Engineering & Electronics Resins segment sales stood at Rs 14.39 crore and accounted for 14% of total sales. PBIT of the segment stood at Rs 2.11 crore, down by 35% on YoY basis and accounted for 13% of total PBIT.
Performance for the 6 months ended June 18
Net sales for 6 months ended June 18 stood at Rs 198.91 crore up by 3% YoY. OPM was down by 270 bps to 16.7% resulting in a 15% fall in OP to Rs 33.18 crore. Other income was up by 20% to Rs 5.38 crore. Interest cost stood at Rs 18 lakh and depreciation was up by 14% to Rs 3.12 crore. Thus PBT was down by 13% to Rs 35.26 crore. There was an EO gain of Rs 19.28 crore pertaining to sale of office premises in June 18 quarter as compared to Nil for 6 month ended June 17. Thus, PBT after EO stood at Rs 54.54 crore up by 34% YoY. After providing total tax of Rs 13.96 crore up by 6% YoY, PAT for 6 months ended June 18 stood at Rs 40.58 crore, up by 48% YoY.
For the 6 months ended June 18, Electrical Insulation segment sales stood at Rs 167.92 crore and accounted for 84% of total sales. PBIT of the segment stood at Rs 28.41 crore, down by 10% YoY basis and accounted for 86% of total PBIT.
Engineering & Electronics Resins segment sales stood at Rs 31.81 crore and accounted for 16% of total sales. PBIT of the segment stood at Rs 4.46 crore, down by 41% on YoY basis and accounted for 14% of total PBIT.
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