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For the quarter ended Mar 19, the company reported net sales of Rs 113.56 crore, up by 3%. OPM was down by 50 bps to 9.5%, resulting in OP fall of 2% to Rs 10.75 crore. Other income was up by 123% to Rs 0.49 crore. Interest costs was lower by 6% to Rs 6.16 crore and depreciation was higher by 38% to Rs 1.46 crore. Thus, PBT was up by 1% to Rs 3.62 crore. After providing total tax of Rs 1.33 crore, up by 49% YoY, PAT for the Mar 19 quarter stood at Rs 2.29 crore, down by 15% YoY.
Performance for 12 months ended Mar 19
For 12 months ended Mar 19, net sales were up by 14% to Rs 416.75 crore. OPM was down by 30 bps to 9.4%, thus resulting in a 11% increase in OP to Rs 39.19 crore. After providing interest cost of Rs 23.93 crore, up by 4% and depreciation cost of Rs 5.67 crore up by 12%, PBT stood at Rs 11.34 crore up by 23% YoY. After providing total tax of Rs 3.98 crore up by 35%, PAT for 12 months ended Mar 19 stood at Rs 7.36 crore up by 17% YoY.
The company is now approved as a prequalified supplier with Samsung Engineering Co. for their International orders. This global level approval, which is for a period of 5 years starting from 1st August 2018, shall now enable Cords Cable Industries to participate in future bids for supplying qualified products to Samsung Engineering Co.'s range of engineering services' portfolio which includes upstream and downstream hydrocarbon facilities, power plants, water and waste treatment plants, and industrial production facilities.
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