OPM stood at 13.8%, up by 10 bps, thus resulting in the OP growth of 17% to Rs 185.69 crore. Other income stood at Rs 0.59 crore up by 37% YoY. Interest costs and depreciation stood at Rs 3.94 crore and Rs 42.67 crore respectively, thus resulted in PBT of Rs 139.67 crore up by 21% YoY. There is an EO income of Rs 55.88 crore on account of hiving off its Khushkhera unit which is engaged in manufacturing plastic automotive components into a JV where the company will have 20.67% stake. PBT after EO thus stood at Rs 195.55 core for June 18 quarter. Total tax stood at Rs 65.19 crore up by 63% YoY, thus PAT before Share of Profits from Associates stood at Rs 130.36 crore up by 73% YoY. There was a profit of Rs 5.99 crore from share of associates for June 18 quarter as compared to Rs 3.09 crore for June 17 quarter. Thus, the consolidated PAT for June 18 quarter stood at Rs 136.35 crore up by 74% YoY.

The Polymer prices remain affordable. The volatility in Crude prices, the effect of Global trade frictions, the rise in Federal interest rates have created a lot of business uncertainty. Even with these macro-level headwinds, the domestic markets look healthy and promise greater business growth potential. The Company remains quite optimistic in growing in all it's business segments. Emerging from this business outlook, the Company remains fully committed to its investment plans. The Company's green field plant at Ghiloth) Rajasthan is now complete and will go in production in July/September quarter. The production will also start in other green field plant at Jadcherla in Telangana where first phase may start in October/November this year. The expansion of capacities at Hosur, Derabassi, Malanpur, Durgapur and Kharagpur plants will be complete and go in production before December this year. Khopoli unit's expansion of capacities will go in production in [an/March 2019. The Company is progressing to acquire land for putting another plant in Assam. Land procurement for putting up a plant in Andhra Pradesh is still under negotiation with the State Government.

The Company procured an order from Bangladesh to supply 40,000 Nos LPG Composite Cylinder where supply has started. The Company is in final stage of negotiation to supply LPG Cylinders in other export markets. Hindustan Petroleum Corporation Limited (HPCL) has made a soft launch of Composite Cylinders supplied by the Company in four cities. The Company has also started supplying Composite Cylinders to two private gas bottlers in domestic market. The response from consumers is quite positive. The Company is negotiating with other private bottlers in different cities to supply LPG gas in it's cylinders.

The Company negotiated sale of 38,717 sq. ft. Premises at Supreme Chambers at Andheri (West), Mumbai. It has received initial deposits and expected to complete the transactions before September this year.

Performance for 12 months ended Mar 18

Net sales for 12 months ended Mar 18 stood at Rs 4966.03 crore up by 11% YoY. OPM was lower by 130 bps to 15.8% thus restricting the OP growth to 3% to Rs 787.11 crore. Other income was lower by 7% to Rs 4.75 crore. Interest cost was lower by 28% to Rs 21.92 crore and depreciation was higher by 8% to Rs 167.15 crore thus resulting in a PBT growth of 3% to Rs 602.79 crore. After providing total tax of Rs 205.70 crore, flat on YoY, PAT before share of profit from associates stood at Rs 397.09 crore up by 5% YoY. After accounting for profit from share of associates of Rs 34.66 crore, consolidated profit for 12 months ended Mar 18 stood at Rs 431.75 crore flat on YoY basis.