Electrical Insulation segment sales stood at Rs 100.27 crore up by 22% YoY and accounted for 88% of total sales. PBIT of the segment stood at Rs 22.17 crore, up by 89% YoY with PBIT margin at 22.1%.  

Engineering & Electronics Resins segment sales stood at Rs 13.84 crore up by 3% YoY and accounted for 12% of total sales. PBIT of the segment stood atRs 2.75crore compared to Rs 1.65 crore in the corresponding previous year period.

Performance for the nine months ended Sep'20 

Net sales for nine months ended Sep'20 stood at Rs 265.14 crore down by 12% YoY. OPM was up by 200 bps to 16.3% resulting in a 1% rise in OP to Rs 43.22 crore. Other income was up by 18% to Rs 16.15 crore. Interest cost stood at Rs 22 lakh and depreciation was up by 61% to Rs 8.79 crore. Thus PBT was down by 1% to Rs 50.35 crore. After providing total tax of Rs 11.14 crore which down by 6% YoY, PAT for 9 months ended Sep'20 stood at Rs 39.22 crore, up by 1% YoY.  

For the 9 months ended Sep'20, Electrical Insulation segment sales stood at Rs 237.14 crore down 10% on YoY basis and accounted for 89% of total sales. PBIT of the segment stood at Rs 35.44 crore, down by 6% YoY basis and accounted for 91% of total PBIT with PBIT margin at 14.9%.  

Engineering & Electronics Resins segment sales stood at Rs 29.64 crore down by 26% and accounted for 11% of total sales. PBIT of the segment stood at Rs 3.7 crore, down by 31% on YoY basis with PBIT margin at 12.5% 

On March 6, 2019 the company was directed for closure of its operation in Ankleshwar by the Gujarat Pollution Control Board (GPCB) due to a suspected water contamination issue. GPCB through its subsequent orders had granted temporary revocation of the closure order.Videlatest order the GPCB has provided temporary revocation for further 6 months which will be due for renewal in January 2021. The company is representing to GPCB for a permanent revocation of the closure order and is doing all the necessary acts, deeds and formalities in that connection. 

The stock trades at Rs 2477.