Performance for 6 months ended Sep 18

Net sales for 6 months ended Sep 18 stood at Rs 309.79 crore up by 27% YoY. OPM of the company stood at 11.9% due to better realization and higher volumes. Thus, the overall OP stood at Rs 36.78 crore up by 56% YoY. Interest cost was lower by 9% to Rs 0.88 crore and depreciation was down by 7% to Rs 5.81 crore. Thus PBT stood at Rs 32.28 crore up by 57% YoY. After providing for total tax of Rs 10.93 crore, up by 65%, PAT for 6 months ended Sep 18 stood at Rs 21.35 crore up by 54%.

Other updates

Growth in EBITDA margins was due to a combination of product mix and productivity increase initiatives.

A major export customer's operations were closed down due to fire in April 2018 this continues to affect budgeted export volumes.

Capex spend from Phase 1 as at September 30, 2018 was at Rs 24 crore.