Performance for the quarter ended June 2020

Total consolidated income from operation declined 25% to Rs 2,480.14 crore for the first quarter ended June 2020. OPM decreased to 100 bps to 27.7%. The decrement in OPM was due to rise in freight & forwarding cost by 260 bps to 23.3%, gain in employee costs by 160 bps to 8.2%, and other expenses by 120 bps to 15.3% as percentage to sales and net of stock adjustments were partially offset by loss in raw material costs by 20 bps to 7.1% and power & fuel cost by 420 bps to 18.4%,. As a result, the OP declined 27% to Rs 687.95 crore.

The other income inclined by 143% to Rs 126.44 crore. The interest cost gained 4% to Rs 71.59 crore and depreciation went down 30% to Rs 300.15 crore. Thus, PBT declined by 12% to Rs 442.65 crore. The net tax outgo was down by 6% to Rs 112.30 crore during the quarter, thus, the consolidated Net Profit dropped 14% to Rs 330.35 crore

Annual Financial Performance (FY 2020)

Total consolidated revenue inclined by 2% to Rs 12,868.39 crore for the fiscal year ended March 2020. OPM improved by 700 bps to 29.2%, thus, OP advanced by 35% to Rs 3,759.10 crore. Other income grew by 10% to Rs 274.40 crore. The interest cost increased by 18% to Rs 291.43 crore. The depreciation went up 23% to Rs 1,807.81 crore. The PBT before EO, as a result, rose 46% to Rs 1,934.26 crore. The Company booked NIL EO exceptional income/losses during the period as against EO exceptional losses of Rs 178.13 crore in financial instruments corresponding previous period. As a result, PBT after EO rose 69% to Rs 1,934.26 crore. The company net tax outgo rose by 199% to Rs 390.20 crore, thus, PAT before MI advanced by 52% to Rs 1,544.06 crore. After accounting Rs 8.21 crore outflows in Minority interest, the Net Profit rose 52% to Rs 1,535.85 crore

The scrip was last traded at Rs 22,388.95 (10 August 2020) on the BSE.