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Foseco India reported a 15% increase in net sales for Sep'16 quarter to Rs 86.67 crore. OPM was lower by about 210 bps to 15.1%, resulting in OP de-growth of 5% to Rs 13.05 crore. Higher raw material costs and adverse product mix affected the margins. Other income was lower by 74% to Rs 0.28 crore. Interest and depreciation costs stood at Rs 0.08 crore and Rs 1.31 crore respectively, after which PBT stood at Rs 11.94 crore, lower by 12% YoY. With total tax of Rs 4.21 crore, down by 11% YoY, PAT for Sep'16 quarter stood at Rs 7.73 crore, down by 13% YoY.
Performance for the nine months ended Sep'16
The company reported a 15% increase in net sales for the nine months ended Sep'16 to Rs 252.87 crore. OPM was lower by about 80 bps to 16.9%, restricting the OP growth to 10% to Rs 42.73 crore. Other income stood at Rs 1.82 crore up by 12% YoY. Interest and depreciation costs stood at Rs 0.29 crore and Rs 3.72 crore respectively, after which PBT stood at Rs 40.54 crore, up by 10% YoY. With total tax of Rs 14.49 crore, up by 13% YoY, PAT for 9 months ended Sep'16 stood at Rs 26.05 crore, up by 8% YoY.
The Promoters hold about 74.98% share capital in the company and none of them are pledged
The company has declared 2nd interim dividend of Rs 6 per equity share of Rs 10 each. This declaration brings the total cumulative interim dividend for
CY 2016 to Rs 16 per share of Rs 10 each.
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