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Foseco India reported a 15% increase in net sales for June'16 quarter to Rs 87.40 crore. OPM was lower by about 10 bps to 18.1%, resulting in OP growth of 15% to Rs 15.82 crore. Other income stood at Rs 1.09 crore up by 148% YoY. Interest and depreciation costs stood at Rs 0.13 crore and Rs 1.21 crore respectively, after which PBT stood at Rs 15.57 crore, up by 19% YoY. With total tax of Rs 5.66 crore, up by 25% YoY, PAT for June'16 quarter stood at Rs 9.91 crore, up by 16% YoY.
Performance for the half year ended June'16
The company reported a 18% increase in net sales for the half year ended June'16 to Rs 166.20 crore. OPM was higher by about 40 bps to 17.9%, resulting in OP growth of 21% to Rs 29.68 crore. Other income stood at Rs 1.54 crore up by 43% YoY. Interest and depreciation costs stood at Rs 0.22 crore and Rs 2.41 crore respectively, after which PBT stood at Rs 28.59 crore, up by 22% YoY. With total tax of Rs 10.28 crore, up by 28% YoY, PAT for 6 months ended June'16 stood at Rs 18.31 crore, up by 19% 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
The company declared its first interim dividend of Rs 10 per share of face value of Rs 10 each for CY 2016.
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