Hence the absolute operating profit rose 64% to Rs 13.02 crore. After providing for the interest cost, depreciation allowance and tax expenses, the net profit increased 62% to Rs 9.08 crore during the quarter under review.

The nine-month period ended September 2009 revenue growth was benign too at Rs 143.26 crore as compared to the corresponding period of the previous year. However for reasons mentioned earlier the company was able to improve its OPM margin for the period by 620 bps to 23.1%. As a result the absolute operating profit increased significantly by 38% to Rs 33.04 crore during the period under review. The bottom-line posted a growth of 42% to Rs 23.26 crore during the nine-month period ended September 2009.

Quarter ended September 2009-

The revenue of the company during the 3^rd quarter ended September 2009 increased only marginally by 8% to Rs 51.51 crore as compared to the corresponding quarter of the previous year. The company's products find application in the power sector besides construction and automobile industry. Also it is highly vulnerable to crude price and currency volatility as it imports a huge chunk of its raw material requirement. The preceding quarter for the company has been positive in this regard as the crude price remained at reasonable level besides lower commodity prices and appreciating Indian rupee. The raw material cost for the company during the quarter was lower at 52% of net adjusted sales as compared to 62% during the same period last year, thus improving the OPM margin significantly by 860 bps to 25.3% during the quarter under review.

Hence the absolute operating profit rose 64% to Rs 13.02 crore. Other income fell by 5% to Rs 1.28 crore. After providing for the interest cost and the depreciation allowance, the PBT increased by an impressive 58% to Rs 13.41 crore during the quarter under review. The effective tax rate was lower at 32% as compared to 34% during the corresponding quarter of the previous year. Thus the net profit increased 62% to Rs 9.08 crore during the quarter under review.

Nine-month ended September 2009-

The company posted a benign revenue growth during the nine-month period ended September 2009 at Rs 143.26 crore as compared to the corresponding period of the previous year. However for reasons relating to lower imported cost of raw materials and appreciating rupee the OPM improved significantly by 620 bps to 23.1%. As a result the absolute operating profit increased significantly by 38% to Rs 33.04 crore during the period under review. The other income increased 13% to Rs 3.64 crore. After providing for other finance expenses and tax expenses during this period, the bottom-line posted a growth of 42% to Rs 23.26 crore during the nine-month period ended September 2009.

The company has signed an Asset Purchase Agreement with Shimo Resins, Pune (SRPL) on 15 September 2009 for purchase of SRPL 's technical know-how and other business intangibles in the field of manufacturing filled Epoxy and Polyurethane Resins, hardeners and catalysts used in casting, potting, encapsulating and sealant applications. The purchase agreement will help the company in strengthening its knowledge base in resin technology and, in the long run, will be in a position to provide a wider product range to its customers.

The company have approved the Special Resolutions regarding voluntarily de-listing of equity shares from the Bombay Stock Exchange Ltd ('BSE') in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, ('Regulations') and pursuant to Regulation 8(1)(b) of the Regulations and subject to receipt of necessary approvals from BSE and from such other authorities as may be required.

The promoters currently hold 88.55% of the shareholding of the company as on September 2009.

The scrip is currently trading at Rs 460 on the BSE.