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The company reported net sales of Rs 99.11 crore, which is by 9% on YoY basis, for the quarter ended Sep 18. OPM was lower by 690 bps to 14% resulted in OP fall of 27% to Rs 13.86 crore. Other income was down by 1% to Rs 2.07 crore. Depreciation was higher by 19% to Rs 1.66 crore. PBT stood at Rs 14.27 crore, down by 28% YoY. After providing total tax of Rs 3.42 crore down by 46%, PAT for Sep 18 quarter stood at Rs 10.85 crore down by 19% YoY.
Electrical Insulation segment sales stood at Rs 84.50 crore and accounted for 85% of total sales. PBIT of the segment stood at Rs 10.55 crore, down by 31% YoY with PBIT margin at 12.5%.
Engineering & Electronics Resins segment sales stood at Rs 14.87 crore and accounted for 15% of total sales. PBIT of the segment stood at Rs 1.92 crore, down by 45% on YoY basis and accounted for 15% of total PBIT.
Performance for the 9 months ended Sep 18
Net sales for 9 months ended Sep 18 stood at Rs 298.02 crore down by 3% YoY. OPM was down by 350 bps to 15.5% resulting in a 21% fall in OP to Rs 46.14 crore. Other income was up by 27% to Rs 8.36 crore. Interest cost stood at Rs 18 lakh and depreciation was up by 16% to Rs 54.32 crore. Thus PBT was down by 18% to Rs 49.53 crore. There was an EO gain of Rs 19.28 crore pertaining to sale of office premises in 9 months ended Sep 18 as compared to Nil for 9 month ended Sep 17. Thus, PBT after EO stood at Rs 68.81 crore up by 14% YoY. After providing total tax of Rs 17.39 crore down by 11% YoY, PAT for 9 months ended Sep 18 stood at Rs 51.42 crore, up by 26% YoY.
For the 9 months ended Sep 18, Electrical Insulation segment sales stood at Rs 252.43 crore and accounted for 84% of total sales. PBIT of the segment stood at Rs 38.95 crore, down by 17% YoY basis and accounted for 86% of total PBIT.
Engineering & Electronics Resins segment sales stood at Rs 46.68 crore and accounted for 16% of total sales. PBIT of the segment stood at Rs 6.37 crore, down by 42% on YoY basis and accounted for 14% of total PBIT.
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