Operating profit margin has jumped from 14.81% to 19.69%, leading to 63.09% rise in operating profit to Rs 25.41 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 57.94% to 62.54%. Purchase of finished goods cost fell from 6.22% to 0.19%. Employee cost decreased from 6.51% to 5.90%. Other expenses fell from 14.51% to 11.68%.  

Other income fell 49.15% to Rs 2.39 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 69.28% to Rs 24.03 crore. PBIT of Electrical Insulations segment rose 54.33% to Rs 19.95 crore (accounting for 83.03% of total PBIT). PBIT of Engineering & Electronic Resins and Materials segment rose 221.73% to Rs 4.08 crore (accounting for 16.97% of total PBIT).  

PBIT margin of Electrical Insulations segment rose from 13.59% to 18.50%. PBIT margin of Engineering & Electronic Resins and Materials segment rose from 11.83% to 18.66%. Overall PBIT margin rose from 13.41% to 18.52%.  

Provision for interest rose 13.64% to Rs 0.25 crore. Provision for depreciation was down 3.69% to Rs 2.87 crore. Profit before tax grew 44.50% to Rs 24.68 crore. Provision for tax was expense of Rs 6.56 crore, compared to Rs 3.78 crore. Effective tax rate was 26.58% compared to 22.13%. Profit after tax rose 36.24% to Rs 18.12 crore.

Performance for year ended Dec'20 

Net sales of Elantas Beck India has declined 2.78% to Rs 383.13 crore. Sales of Electrical Insulations segment has gone down 1.58% to Rs 340.50 crore (accounting for 88.36% of total sales). Sales of Engineering & Electronic Resins and Materials segment has gone down 13.10% to Rs 44.84 crore (accounting for 11.64% of total sales).  

Operating profit margin has jumped from 13.66% to 18.36%, leading to 30.69% rise in operating profit to Rs 70.34 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.48% to 55.84%. Purchase of finished goods cost rose from 0.13% to 4.58%. Employee cost increased from 6.90% to 7.34%. Other expenses fell from 14.93% to 13.90%.

Other income up 23.39% to Rs 21.79 crore. Profit before interest, tax and other unallocable items (PBIT) has jumped 20.61% to Rs 64.59 crore. PBIT of Electrical Insulations segment rose 21.40% to Rs 57.87 crore (accounting for 89.59% of total PBIT). PBIT of Engineering & Electronic Resins and Materials segment rose 14.23% to Rs 6.73 crore (accounting for 10.41% of total PBIT).  

PBIT margin of Electrical Insulations segment rose from 13.78% to 16.99%. PBIT margin of Engineering & Electronic Resins and Materials segment rose from 11.41% to 15.00%. Overall PBIT margin rose from 13.47% to 16.76%.  

Provision for interest fell 35.29% to Rs 0.22 crore. Loan funds remained nil. Inventories rose to Rs 52.68 crore as of 31 December 2020 from Rs 49.77 crore as of 31 December 2019. Sundry debtors were higher at Rs 70.51 crore as of 31 December 2020 compared to Rs 61.09 crore as of 31 December 2019. Cash and bank balance rose to Rs 26.62 crore as of 31 December 2020 from Rs 24.41 crore as of 31 December 2019. Investments rose to Rs 217.72 crore as of 31 December 2020 from Rs 159.84 crore as of 31 December 2019 .  

Provision for depreciation rose 59.18% to Rs 11.7 crore. Fixed assets increased to Rs 76.30 crore as of 31 December 2020 from Rs 71.20 crore as of 31 December 2019. Intangible assets declined from Rs 49.33 crore to Rs 44.07 crore.  

Profit before tax grew 25.74% to Rs 80.21 crore. Provision for tax was expense of Rs 18.45 crore, compared to Rs 14.23 crore. Effective tax rate was 23.00% compared to 22.31%. Profit after tax rose 24.62% to Rs 61.76 crore.  

Cash flow from operating activities increased to Rs 79.40 crore for year ended December 2020 from Rs 47.86 crore for year ended December 2019. Cash flow used in acquiring fixed assets during the year ended December 2020 stood at Rs 25.65 crore, compared to Rs 48.54 crore during the year ended December 2019.  

Promoters' stake was 75.00% as of 31 December 2020 ,compared to 75.00% as of 31 December 2019 .  

0n March 6, 2019, the company was directed for closure of its operations in Ankleshwar by the Gujarat Pollution Control Board (GPCB) due to a suspected ground water contamination issue, The GPCB through its subsequent orders had granted temporary revocation of the closure order. As per the latest order, the GPCB has provided temporary revocation for further 6 months which will be due for renewal in October 2021. The company is representing to the GPCB for a permanent revocation of the closure order and `s doing all the necessary acts, deeds and formalities in that connection. 

The stock trades at Rs 3688.