Quarterly results

For the quarter ended December 2010 Net sales of the company stood at Rs 169.10 crore indicating an 17% increase on a Y-o-Y basis. However the OPM (Operating Profit Margin) slipped by 240 basis points to 13.2%. The subsequent Operating Profit for the period under review stood at Rs 22.32 crore indicating a decrease of 1%.

Consumption of raw materials increased (as a % of Net sales) from 62.1% to 65.6% while Selling and marketing expenses decreased from 9.2% to 8.9% respectively. The staff cost decreased (as a % of Net sales) from 4.3% to 4.1%. Other expenses increased from 11.6% to 12.6%.

Other Income stood at Rs 2.48 crore. The ensuing PBIDT stood at Rs 24.80 crore indicating a Y-o-Y increase of 3%. The Interest cost increased 17% to Rs 0.21 crore while depreciation charges increased 36% to Rs 2.44 crore. The subsequent PBT stood at Rs 22.15 crore which was up by 1% when compared with corresponding period last year. The tax expense for the period under review stood at Rs 7.88 crore resulting in a Net Profit for the period lower by 2% and stood at Rs 14.27 crore.

Nine Months results

For nine months ended December 2010 Net sales of the company rose 19% to Rs 494.49 crore on a Y-o-Y basis comparison. However the OPM (Operating Profit Margin) slipped by 260 basis points to 13.8%. The subsequent Operating Profit stood flat for the period under review stood at Rs 67.13 crore.

Consumption of raw materials increased (as a % of Net sales) from 59.6% to 62.2% and Selling and marketing expenses increased from 8.2% to 8.3% respectively. The staff cost too increased (as a % of Net sales) from 4.2% to 4.3% and other expenses increased from 11.9% to 12.0%.

Other Income stood at Rs 4.43 crore. The ensuing PBIDT stood at Rs 71.56 crore indicating a Y-o-Y increase of 2%. The Interest cost decreased 6% to Rs 0.60 crore while depreciation charges increased 85% to Rs 7.24 crore. The subsequent PBT stood at Rs 63.72 crore which was lower by 3% when compared with corresponding period last year. The tax expense for the period under review stood at Rs 23.20 crore resulting in a Net Profit for the period lower by 7% and stood at Rs 40.52 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 6555 at BSE.