The company reported net sales of Rs 98.49 crore, which is by 1% on YoY basis, for the quarter ended Mar 19. OPM was lower by 200 bps to 15.2% resulted in OP fall of 10% to Rs 15.01 crore. Other income was up by 59% to Rs 4.11 crore. Interest cost was up by 106% to Rs 0.37 crore. Depreciation was higher by 18% to Rs 1.83 crore. PBT stood at Rs 16.92 crore, down by 4% YoY. There was an EO gain of Rs 19.28 crore pertaining to profit on sale of office premises in Mar 18 quarter as compared to Nil for Mar 19 quarter. PBT after EO thus stood at Rs 16.92 crore down by 54% YoY. After providing total tax of Rs 5 crore down by 41%, PAT for Mar 19 quarter stood at Rs 11.92 crore up by 58% YoY.
Electrical Insulation segment sales stood at Rs 85.69 crore up by 7% YoY and accounted for 86% of total sales. PBIT of the segment stood at Rs 13.16 crore, down by 4% YoY with PBIT margin at 15.4%.
Engineering & Electronics Resins segment sales stood at Rs 13.52 crore down by 22% YoY and accounted for 14% of total sales. PBIT of the segment stood at Rs 1.77 crore, down by 24% on YoY basis with PBIT margin at 13.1%.
Performance for the 12 months ended Dec 18
Net sales for 12 months ended Dec 18 stood at Rs 409.12 crore up by 7% YoY. OPM was down by 470 bps to 15.8% resulting in a 17% fall in OP to Rs 64.77 crore. Other income was up by 39% to Rs 11.92 crore. Interest cost stood at Rs 23 lakh and depreciation was up by 18% to Rs 6.58 crore. Thus PBT was down by 14% to Rs 69.88 crore. There was an EO gain of Rs 19.28 crore pertaining to sale of office premises in 12 months ended Dec 18 as compared to Nil for 12 month ended Dec 17. Thus, PBT after EO stood at Rs 89.16 crore up by 10% YoY. After providing total tax of Rs 23.38 crore down by 10% YoY, PAT for 12 months ended Dec 18 stood at Rs 65.78 crore, up by 19% YoY.
For the 12 months ended Dec 18, Electrical Insulation segment sales stood at Rs 347.54 crore up by 15% YoY and accounted for 85% of total sales. PBIT of the segment stood at Rs 53.77 crore, down by 16% YoY basis and accounted for 86% of total PBIT with PBIT margin at 15.5%.
Engineering & Electronics Resins segment sales stood at Rs 63.14 crore down by 4% and accounted for 15% of total sales. PBIT of the segment stood at Rs 8.94 crore, down by 37% on YoY basis with PBIT margin at 14.2%
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