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Foseco India reported a 14% increase in net sales for Dec'14 quarter to Rs 64.29 crore. With OPM being up by 840 bps to 15.9%, OP was up by 141% to Rs 10.21 crore. Other income was higher by 116% to Rs 1.34 crore. Interest and depreciation costs also were lower by 13% and 2% to Rs 9 lakh and Rs 1.20 crore, PBT was up by 189% to Rs 10.26 crore. After total tax being up by 148% to Rs 3.45 crore, PAT for Dec'14 quarter stood at Rs 6.81 crore, up by 215% YoY.
Performance for the year ended Dec'14
Net sales for 12 months ending Dec'14 stood at Rs 263.37 crore, up by 16% YoY. OPM was up by 170 bps to 14.9% leading to a 31% rise in OP to Rs 39.19 crore. Other income was up by 33% to Rs 3.37 crore. After providing interest costs of Rs 0.17 crore, down by 35% and depreciation of Rs 4.65 crore, down by 9% , PBT stood at Rs 37.74 crore, up by 39%. Total tax for 12 months ending Dec'14 was up by 41% to Rs 13.51 crore, leading to a 38% increase in PAT to Rs 24.59 crore for the 12 months ending Dec'14 on YoY basis.
The Promoters hold about 74.98% share in the company and none of them are pledged
The scrip is trading at Rs 1285
Board of Directors has declared a final dividend of Rs 10 per equity share of Rs 10 each. Thus, this in addition to an interim dividend of Rs 11 per equity share of Rs 10 each declared earlier, the total dividend declared for CY 2014 cumulatively stands at Rs 21 per share.
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