Raw material cost fell 20% to Rs 124.53 crore and as a % to sales it fell from 57.9% to 54.6%.

Other income jumped 60% to Rs 5.13 crore. Interest cost was nil.

As deprecation jumped 346% to Rs 1.83 crore, PBT grew 58% to Rs 32.38 crore.

EO was nil against a gain of Rs 107.64 crore. Thus PBT after EO fell 75% to Rs 32.38 crore.

Provision for taxation fell 62% to Rs 12.21 crore. Finally PAT went down 79% to Rs 20.17 crore.

Six months results

Sales for the six months ended September 2015 grew 1% to Rs 480.80 crore. OPM jumped 420 basis points from 9.1% to 13.3% which saw OP rising 47% to Rs 63.82 crore.

Raw material cost fell 21% to Rs 255.53 crore and as a % to sales it fell from 68.2% to 53.1%.

Other income jumped 80% to Rs 10.24 crore. Interest cost was nil.

As deprecation grew 50% to Rs 3.60 crore, PBT grew 51% to Rs 70.46 crore.

EO was nil against a gain of Rs 107.64 crore. Thus PBT after EO fell 54% to Rs 70.46 crore.

Provision for taxation fell 39% to Rs 24.62 crore. Finally PAT went down 60% to Rs 45.84 crore.

FY 2015 results

In FY 2015 sales had grown 5% to Rs 955.75 crore. OPM had fallen 220 basis points from 11.3% to 9.1% which saw OP go down 15% to Rs 87.40 crore.

PBT was down 13% to Rs 100.52 crore.

EO income was Rs 150.33 crore against loss of Rs 3.48 crore. Thus PBT after EO had jumped 135% to Rs 243.40 crore.

Finally had grown 150% to Rs 171.15 crore.

Valuation

The diminution of value of investment of Rs 41 lakh held by the company is not of permanent nature and accordingly no provision has been made.

The directors have declared special interim dividend of Rs 150 per share.

The share price trades at Rs 17300.