Raw material cost fell 20% to Rs 125.49 crore and as a % to sales it fell from 66.7% to 51.0%.

Other income jumped 58% to Rs 7.59 crore. Interest cost was nil.

As deprecation jumped 52% to Rs 1.81 crore, PBT grew 75% to Rs 38.69 crore.

EO was nil.

Provision for taxation grew 54% to Rs 12.36 crore. Finally PAT jumped 86% to Rs 26.33 crore.

Nine months results

Sales for the nine months ended December 2015 grew 2% to Rs 726.64 crore. OPM jumped 460 basis points from 8.8% to 13.3% which saw OP rising 56% to Rs 96.73 crore.

Raw material cost fell 21% to Rs 381.02 crore and as a % to sales it fell from 67.7% to 52.4%.

Other income jumped 70% to Rs 17.83 crore. Interest cost was nil.

As deprecation grew 51% to Rs 5.41 crore, PBT grew 58% to Rs 109.15 crore.

EO was nil against a gain of Rs 107.64 crore. Thus PBT after EO fell 38% to Rs 109.15 crore.

Provision for taxation fell 44% to Rs 72.17 crore. Finally PAT went down 44% to Rs 72.17 crore.

Bonus and stock split

The Board of Directors at their meeting held on January 28, 2016 has (1) Declared split of every 1 (one) share of the Company having face value Rs.10/- each into 2 (two) shares of face value Rs.5/- each, subject to approval of the shareholders.(2) Declared bonus shares to the existing shareholders in the ratio of 1:1, subject to approval of the shareholders.

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 share price trades at Rs 26272.