OPM was higher by 270 bps to 5.7% which resulted in a 153% increase in OP to Rs 33.75 crore. Other income was down by 64% to Rs 0.92 crore. Interest cost was lower by 65% to Rs 1.86 crore while depreciation was flat on YoY basis to Rs 6.22 crore. PBT thus was higher by 513% to Rs 26.59 crore. After providing total tax of Rs 9.70 crore up by 506%, PAT for the June 18 quarter stood at Rs 16.89 crore up by 516% YoY.

Performance for 12 months ended Mar 18

For the 12 months ended Mar 18, net sales were higher by 28% to Rs 1895.34 crore. OPM was lower by 200 bps to 7.1% largely due to inventory losses, which resulted in a flat OP to Rs 135.25 crore. Other income was up by 70% to Rs 6.91 crore. Interest cost and depreciation cost were flat at Rs 13.67 crore and Rs 25.36 crore respectively. PBT thus was higher by 3% to Rs 103.13 crore. After providing total tax of Rs 36.91 crore up by 19%, PAT for 12 months ended Mar 18 stood at Rs 66.22 crore, down by 4%.

Target for FY 2019 as laid by the management

Various budgetary schemes continue to drive demand growth

Continue to strengthen position in Specialties, drive product mix to maximize margins and add new grades to product portfolio

Continue to optimize distribution network through third party logistics

Ensure stable operations