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The company reported net sales of Rs 85.26 crore, which was flat on YoY basis, for the quarter ended Dec'16. OPM was higher by 120 bps to 19.2% resulted in OP of Rs 16.33 crore, up by 7% YoY. Other income was up by 85% to Rs 2 crore. Depreciation was lower by 25% to Rs 1.32 crore. PBT stood at Rs 17.01 crore, up by 17% YoY. After paying total tax of Rs 5.35 crore up by 10% YoY, PAT for the quarter ended Dec'16 stood at Rs 11.66 crore up by 20% YoY.
Electrical Insulation segment sales were lower by 1% to Rs 68.88 crore. PBIT of the segment stood at Rs 12.90 crore, up by 7% YoY with PBIT margin of 18.7% as compared to 17.3% for Dec'15 quarter.
Engineering & Electronics Resins segment sales stood at Rs 16.62 crore, up by 5% for Dec'16 quarter on YoY basis. PBIT of the segment stood at Rs 3.05 crore, up by 22% on YoY basis with PBIT margin of 18.5% as compared to 15.8% for Dec'15 quarter.
Performance for the 12 months ended Dec'16
The company reported net sales of Rs 365.25 crore, up by 6% YoY for the 12 months ended Dec'16. Lower copper prices resulted in OPM being higher by 340 bps to 21.5% resulted in OP of Rs 78.65 crore, up by 26% YoY. Other income was higher by 36% to Rs 7.63 crore. Depreciation was lower by 13% to Rs 5.19 crore. PBT stood at Rs 80.88 crore, up by 31% YoY. After paying total tax of Rs 26.40 crore up by 32% YoY, PAT for the 12 months ended Dec'16 stood at Rs 54.48 crore up by 30% YoY.
Electrical Insulation segment sales were up by 7% to Rs 301.21 crore. PBIT of the segment stood at Rs 63.90 crore, up by 30% YoY with PBIT margin of 21.2% as compared to 17.4% for the 12 months ended Dec'15.
Engineering & Electronics Resins segment sales stood at Rs 65.64crore, up by 4% for the 12 months ended Dec'16 on YoY basis. PBIT of the segment stood at Rs 14.15 crore, up by 33% on YoY basis with PBIT margin of 21.6% as compared to 16.9% for 12 months ended Dec'15.
The company declared a dividend of Rs 4.5 per equity share of face value of Rs 10 each for CY 2016.
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