Quarterly results

For the quarter ended September 2010 Net sales of the company stood at Rs 159.47 crore indicating an impressive 30% increase on a Y-o-Y basis. However the OPM (Operating Profit Margin) slipped by 550 basis points to 11.3%. The subsequent Operating Profit for the period under review stood at Rs 18.03 crore indicating an decrease of 13%.

Consumption of raw materials increased (as a % of Net sales) from 57.6% to 61.4% and Selling and marketing expenses increased from 8.1% to 11.3% respectively. The staff cost decreased (as a % of Net sales) from 4.5% to 3.9% and other expenses too decreased from 13.5% to 12.6%.

Other Income stood at Rs 1.04 crore. The ensuing PBIDT stood at Rs 19.07 crore indicating a Y-o-Y decrease of 10%. The Interest cost increased 11% to Rs 0.20 crore while depreciation charges increased 122% to Rs 2.51 crore. The subsequent PBT stood at Rs 16.36 crore which was lower by 18% when compared with corresponding period last year. The tax expense for the period under review stood at Rs 7.00 crore resulting in a Net Profit for the period lower by 29% and stood at Rs 9.36 crore.

Half yearly results

For half year ended September 2010 Net sales of the company rose 19% to Rs 325.39 crore indicating an decent 19% increase on a Y-o-Y basis comparison. However the OPM (Operating Profit Margin) slipped by 300 basis points to 13.8%. The subsequent Operating Profit for the period under review stood at Rs 44.81 crore indicating an decrease of 2%.

Consumption of raw materials increased (as a % of Net sales) from 58.2% to 60.4% and Selling and marketing expenses increased from 8.8% to 10.0% respectively. The staff cost too increased (as a % of Net sales) from 4.2% to 4.5% while other expenses decreased from 12.0% to 11.7%.

Other Income stood at Rs 1.95 crore. The ensuing PBIDT stood at Rs 46.76 crore indicating a Y-o-Y decrease of 1%. The Interest cost decreased 13% to Rs 0.39 crore while depreciation charges increased 127% to Rs 4.8 crore. The subsequent PBT stood at Rs 41.57 crore which was lower by 7% when compared with corresponding period last year. The tax expense for the period under review stood at Rs 15.32 crore resulting in a Net Profit for the period lower by 12% and stood at Rs 26.25 crore.

Yearly results

For the year ended March 2010 Net sales of the company rose 17% to Rs 564.72 crore. The OPM (Operating Profit Margin) jumped 670 bps to Rs 15.9%. The subsequent Operating profit rose 103% to Rs 89.73 crore.

The Other Income stood at Rs 6.59 crore. The ensuing PBIDT was up 90% to Rs 96.32 crore. The Interest cost and depreciation charges stood at Rs 0.61 crore and Rs 6.18 crore respectively. The subsequent PBT increased 96% to Rs 89.53 crore. Tax expense stood at Rs 31.54 crore resulting in a Net Profit for the period to the tune of Rs 57.99 crore, up by 110%.

Currently the shares of Tide Water Oil are quoting at around Rs 9090 at BSE.