Electrical Insulation segment sales were up by 7% to Rs 81.89 crore. PBIT of the segment stood at Rs 17.89 crore, up by 21% YoY with PBIT margin of 21.8% as compared to 19.3% for June'15 quarter.

Engineering & Electronics Resins segment sales stood at Rs 16.25 crore, up by 2% for June'16 quarter on YoY basis. PBIT of the segment stood at Rs 3.59 crore, up by 20% on YoY basis with PBIT margin of 22.1% as compared to 18.7% for June'15 quarter.

Performance for the half year ended June'16

The company reported net sales of Rs 188.77 crore, up by 9% YoY for the half year ended June'16. Lower crude oil and copper prices resulted in OPM being higher by 290 bps to 21.8% resulted in OP of Rs 41.11 crore, up by 33% YoY. Other income was lower by 3% to Rs 3.21 crore. Depreciation was lower by 5% to Rs 2.62 crore. PBT stood at Rs 41.53 crore, up by 32% YoY. After paying total tax of Rs 13.98 crore up by 38% YoY, PAT stood at Rs 27.55 crore up by 30%.

Electrical Insulation segment sales were up by 9% to Rs 156.03 crore. PBIT of the segment stood at Rs 33.69 crore, up by 35% YoY with PBIT margin of 21.6% as compared to 17.5% for the half year ended June'15.

Engineering & Electronics Resins segment sales stood at Rs 33.41 crore, up by 6% for the half year ended June'16 on YoY basis. PBIT of the segment stood at Rs 7.28 crore, up by 35% on YoY basis with PBIT margin of 21.8% as compared to 17.2% for half year ended June'15.

Performance for the year ended Dec 2015

For the year ended Dec 2015, net sales was up by 1% to Rs 344.16 crore, OPM was up by 580 bps to 18.1% thus resulting in OP growth of 48% to Rs 62.25 crore. Other income was down by 34% to Rs 5.61 crore. Interest costs was lower by 21% to Rs 0.19 crore and depreciation was up by 10% to Rs 5.94 crore. After providing total tax of Rs 19.98 crore, up by 50%, PAT for the year ended Dec 2015 stood at Rs 41.75 crore up by 32% on YoY basis.

Electrical Insulation segment sales were up by 1% to Rs 281.97 crore. PBIT of the segment stood at Rs 48.99 crore, up by 61% YoY with PBIT margin of 17.4% as compared to 10.9% for the calendar year ended Dec'14.

Engineering & Electronics Resins segment sales stood at Rs 63.06 crore, flat on YoY basis. PBIT of the segment stood at Rs 10.63 crore, up by 6% YoY with PBIT margin of 16.9% as compared to 15.8% for calendar year ended Dec'14.

The company recommended a dividend of Rs 5 per equity share of Rs 10 each for the calendar year ended Dec'15.

The company reassessed the remaining useful life of fixed assets and adopted useful lives prescribed in Schedule II of companies act; this has resulted in additional depreciation charge of Rs 24.72 lakh for the Dec'15 quarter and Rs 95.25 lakh additional depreciation charge for the 12 months ended Dec'15 period.