Other income decreased 1% to Rs 5.92 crore compared to Rs 5.98 crore. Interest cost was Rs 37 lakh compared to Rs 83 lakh. Depreciation was up 22% to Rs 3.27 crore. PBT was down 27% to Rs 29.93 crore.

Provision for taxation fell 41% to Rs 9.36 crore after which PAT stood at Rs 20.57 crore against Rs 25.47 crore. Further considering share of profit of JV and associate Net profit rose 18% to Rs 23.2 crore.

The company estimates its demand to be lower in the shorter term but is not likely to have a continuing impact on the business. The impact of the government imposed nation wide lockdown due to Covid-19 pandemic was temporary as requisite approval have been taken by the company during the end of April20 to resume its manufacturing operations across its plants. As a result of this lockdown production in the company's plant could not be carried out from March 23, 2020 till approvals were received. The current economic environment could temporarily result in lower demand in FY21 against FY20. The company has gradually ramped up its production from May/June 20 and the company expects a steady increase in production.

Consolidated Performance for the year ended Mar20

In FY20, sales fell 4% to Rs 1316.57 crore. OPM rose 90 basis points to 10.5% which saw OP rise 4% to Rs 138.04 crore.

Other income rose 3% to Rs 21.58 crore and interest cost decreased 4% to Rs 2.36 crore. As deprecation grew 19% to Rs 12.49 crore, PBT went up 3% to Rs 144.77 crore.

Provision for taxation fell 25% to Rs 39.32 crore after which PAT stood at Rs 105.45 crore against Rs 88.6 crore. Further considering share of profit of JV and associate Net profit rose 22% to Rs 121.12 crore

The scrip is currently trading at Rs 4020

The company declared dividend of Rs 140 per share.