• Marginal downside in revenue was largely driven by lower EPC revenue. Sales of machinery & equipment manufacturing (M&E) was up by 15% to Rs 341.29 crore (or 31% of sales) and EPC revenue was down by 28% to Rs 601.77 crore (or 54% of sales). The sugar was up by 36% to Rs 165.09 crore and others was up at Rs 5.65 crore compared to modest Rs 0.05 crore in the corresponding previous period.
• EBIT for the period was upby 13% to Rs 69.99 crorepowered by higher profits from EPC as well as that of sugar. Despite lower sales the segment profit of EPC was up by 1% to Rs 28.54 crore as its segment margin expand by 140 bps to 4.7%. Expansion in margin seems largely due to project mix. However despite higher sales, the segment profit of M&E was down by 12% to Rs 21.40 crore dragged by 200 bps contraction in segment margin to 6.3%. The segment profit of sugar was up by 87% to Rs 21.75 crore driven by higher sales as well as higher margin by 360 bps to 13.2%.
• OPM expanded by 70 bps to 6.7% facilitated largely by increased contribution to sales from higher margin segments as well as expansion in margin of high volume EPC business.

Yearly performance

Consolidated sales was up by 16% to Rs 5852.15 crore but with OPM contract by 30 bps to 5.0%, the operating profit was up by 11% to Rs 294.68 crore. The PBT was down by 5% to Rs 216.49 crore hit by lower OI, higher interest and higher depreciation. The EO and share of profit from associate was nil for the period as well as corresponding previous period.With taxation stand lower by 21% to Rs 65.86 crore, the PAT was up by 5% to Rs 150.73 crore. After accounting for higherMI, the PAT (after MI) was eventually higher by 3% to Rs 146.42 crore.