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Sudarshan Chemicals overall top-line rose 14% to Rs 336.76 crore The company reported 280 bps increase in operating margins to 16.9%. As a result operating profits rose 37% to Rs 56.87 crore. Other income rose 186% to Rs 4.47 crore. Interest cost was down 9% to Rs 6.04 crore. Depreciation rose 13% to Rs 11.5 crore. PBT as a result was up 68% to Rs 43.8 crore. Effective tax rate was down 230 bps to 28.1%. Bottomline of the company increased 73% to Rs 31.51 crore.
Standalone Performance for the quarter ended June 2016
For quarter ended June 2015, the overall top-line rose 14% to Rs 336.76 crore The company reported 280 bps increase in operating margins to 16.9% as cost of material consumed as a percentage of adjusted net sales decreased 320 bps to 53.4% while purchase of stock in trade rose 80 bps to 2.8%, employee benefit expenses fell 40 bps to 5.8% and other expenditure decreased 20 bps to 19.4%. As a result operating profits rose 37% to Rs 56.87 crore.
Other income rose 186% to Rs 4.47 crore. Interest cost was down 9% to Rs 6.04 crore. Depreciation rose 13% to Rs 11.5 crore. PBT as a result was up 68% to Rs 43.8 crore. Effective tax rate was down 230 bps to 28.1%. Bottomline of the company increased 73% to Rs 31.51 crore.
Standalone Segment Results
Pigments: For the quarter ended June 2016, the sales of pigment division increased 12% to Rs 283.45 crore representing 84% of total revenues of the company. PBIT increased 28% to Rs 49.97 crore. The capital employed increased 4% to Rs 485.25 crore representing 67% of total capital employed.
Agro Chemicals: Agro chemical division contributed 15% to the company's total revenues in Q1FY'17 which rose 28% to Rs 49.97 crore. PBIT increased 142% to Rs 3.65 crore. The capital employed decreased 16% to Rs 20.56 crore representing 3% of total capital employed.
The scrip is currently trading at Rs 299.
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