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Results
28-Apr-16
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Analysis
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Foseco India
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Continued its strong performance
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Foseco India reported a 21% increase in net sales for Mar'16 quarter to Rs 78.80 crore. OPM was higher by about 90 bps to 17.6%, resulting in OP growth of 28% to Rs 13.86 crore. As most of the company's raw material is crude oil-based, lower crude oil prices means lower raw material prices, resulting in higher margins for the company. Other income stood at Rs 0.44 crore down by 31% YoY. Interest and depreciation costs stood at Rs 0.09 crore and Rs 1.20 crore respectively, after which PBT stood at Rs 13.01 crore, up by 26% YoY. With total tax of Rs 4.62 crore, up by 32% YoY, PAT for Mar'16 quarter stood at Rs 8.39 crore, up by 23% YoY.
Performance for the year ended Dec'15
Net sales for 12 months ending Dec'15 stood at Rs 292.14 crore, up by 11% YoY. OPM was up by 250 bps to 17.3% leading to a 29% rise in OP to Rs 50.68 crore. Other income was down by 44% to Rs 1.89 crore. After providing interest costs of Rs 0.12 crore, down by 29% and depreciation of Rs 4.54 crore, down by 2% , PBT stood at Rs 47.91 crore, up by 27%. Total tax for 12 months ending Dec'15 was up by 23% to Rs 16.18 crore, leading to a 29% increase in PAT to Rs 31.73 crore for the 12 months ending Dec'15 on YoY basis.
The Promoters hold about 74.98% share capital in the company and none of them are pledged
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