Other income fell 48.62% to Rs 6.31 crore. Provision for interest remained nil. Provision for depreciation was down 38.91% to Rs 7.85 crore.

Profit before tax grew 2.76% to Rs 96.73 crore. Provision for tax was expense of Rs 23.9 crore, compared to Rs 23.52 crore. Effective tax rate was 24.71% compared to 24.99%.

Profit after tax rose 3.14% to Rs 72.83 crore.

Promoters' stake was 32.16% as of 31 March 2021 compared to 32.16% as of 31 March 2020.

Performance for year ended Mar'21

Net sales declined 10.36% to Rs 1,110.98 crore. Operating profit margin has jumped from 33.46% to 36.96%, leading to 0.98% rise in operating profit to Rs 410.59 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.36% to 43.02%. Employee cost increased from 8.25% to 10.32%. Other expenses fell from 9.97% to 9.65%.

Other income fell 11.78% to Rs 41.78 crore. Provision for interest remained nil. Loan funds remained nil. Inventories declined from Rs 297.74 crore as of 31 March 2020 to Rs 297.18 crore as of 31 March 2021. Sundry debtors were lower at Rs 15.21 crore as of 31 March 2021 compared to Rs 15.36 crore as of 31 March 2020. Cash and bank balance declined from Rs 37.45 crore as of 31 March 2020 to Rs 20.83 crore as of 31 March 2021. Investments rose to Rs 887.13 crore as of 31 March 2021 from Rs 752.99 crore as of 31 March 2020.

Provision for depreciation was down 16.02% to Rs 35.07 crore. Fixed assets increased to Rs 205.98 crore as of 31 March 2021 from Rs 199.70 crore as of 31 March 2020. Intangible assets declined from Rs 0.05 crore to Rs 0.03 crore.

Profit before tax down 0.70% to Rs 417.30 crore. Provision for tax was expense of Rs 106.51 crore, compared to Rs 116.16 crore. Effective tax rate was 25.52% compared to 27.64%.

Profit after tax rose 2.20% to Rs 310.79 crore.

The scrip is trading at Rs 3300 at BSE