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Net sales for quarter ended Mar'16 stood at Rs 188.338 crore, down by 4% YoY basis. OPM stood at 15.1%, up by 360 bps thus resulting in OP growth of 25% to Rs 28.44 crore. Other income was up by 193% at Rs 1.20 crore. Interest costs was up by 39% to Rs 1.97 crore resulting PBDT growth of 39% to Rs 27.67 crore. Depreciation was up by 15% to Rs 3.42 crore resulting a 43% growth in PBT to Rs 24.25 crore. After paying total tax of Rs 6.97 crore, up by 50% YoY, PAT for the quarter ended Mar'16 stood at Rs 17.28 crore, up by 41% YoY.
Mr. Vayu Garware, CMD, Garware-Wall Ropes Ltd, said "Good growths in domestic business as well as increased sales of value added products in international markets aided in positing a robust financial performance. With our unwavering commitment on Innovation, Geographic Expansion and Operational Excellence, we are well positioned in FY 2017 to improve our revenue growth and profitability"
Performance for 12 months ended Mar'16
Net sales for the 12 months ended Mar'16 stood at Rs 827.60 crore, up by 6% YoY. OPM stood at 12.7%, up by 230 bps thus resulting in OP growth of 29% to Rs 105.41 crore. Other income was up by 102% at Rs 3.46 crore. Interest costs was down by 15% to Rs 8.73 crore resulting PBDT growth of 37% to Rs 100.14 crore. Depreciation was up by 6% to Rs 13.10 crore resulting a 44% growth in PBT to Rs 87.04 crore. After paying total tax of Rs 25.17 crore, up by 44% YoY, PAT for the 12 months ended Mar'16 stood at Rs 61.87 crore, up by 44% YoY.
The board of directors recommended a dividend of Rs 3.30 per share of face value of Rs 10 each.
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