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Grauer & Weil (India) net sales rose 9% to Rs 111.85 crore in Q2FY'18 compared to corresponding previous year period while net profit of the company increased 33% to Rs 22 crore.
Operating margins of the company rose 160 bps to 26.2% leading 16% increase in operating profits to Rs 29.35 crore. Cost of material consumed as a percentage of net sales (net of stock adjustment) fell 10 bps to 47.6%. Employee benefit expenses decreased 40 bps to 11.3%. Purchase of stock in trade was flat at 0.6% while other expenses fell 100 bps to 14.8%. Other income rose 257% to Rs 2.18 crore. PBDIT increased 22% to Rs 31.53 crore.
Interest cost was up 33% to Rs 0.4 crore. PBDT increased 22% to Rs 31.13 crore.
Depreciation rose 13% to Rs 3.82 crore. PBT as a result rose 23% to Rs 27.31 crore. Considering 600 bps fall in effective tax rate to 19.4% net profit rose 33% to Rs 22 crore.
Performance for half year ended September 2017
In H1FY'18 net sales rose 11% to Rs 218.07 crore compared to corresponding previous year period while net profit of the company rose 16% to Rs 34.82 crore.
Operating margins of the company rose 30 bps to 22.9% leading 10% growth in operating profits to Rs 50.03 crore.
Other income rose 168% to Rs 4.16 crore. PBDIT increased 15% to Rs 54.19 crore.
Interest cost was down 12% to Rs 0.79 crore. PBDT improved 16% to Rs 53.4 crore
Depreciation rose 8% to Rs 7.39 crore. PBT as a result rose 17% to Rs 46.01 crore.
Considering 120 bps rise in effective tax rate to 24.3% net profit rose 16% to Rs 34.82 crore.
The scrip is currently trading at Rs 62.75
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