• The value of production for the quarter was higher by 21% to Rs 238.43 crore while the sales (net of excise) was up by 20% to Rs 234.67 crore. Sales lower than value of production is largely on account of inventory built up, which will get liquidated in coming quarters.
• Operating profit margin expanded by 90 bps to 6.4%. This can be explained by lower OE. Material cost as proportion to sales net of stocks was up by 50 bps to 88.3%. Similarly that of staff cost was up by 10 bps to 2.4%. But the other expense was lower by 150 bps to 3%.
• Other income was jumped by 94% to Rs 1.48 crore. The interest cost was up by 63% to Rs 3.65 crore. The depreciation was up by 10% to Rs 2.30 crore. Thus the PBT was higher by 49% to Rs 10.63 crore.
• Taxation was down by 19% to Rs 3.60 crore and the tax rate was down at 33.83% compared to 42.4% in corresponding previous quarter. Thus the PAT was jumped up by 71% to Rs 7.03 crore. PPT was nil compared to a write back of Rs 0.42 crore in corresponding previous period. Thus the net profit was up by 55% to Rs 7.03 crore.
• Other comprehensive income net of tax was down by 27% to Rs 4.06 crore and thus the total comprehensive income was up by 9% to Rs 11.09 crore.

Half Yearly performance

Standalone sales were higher by 20% to Rs 458.31 crore. But with operating margin expand by 40 bps the operating profit stood up by 29% to Rs 27.39 crore. After accounting for higher other income, higher interest and higher depreciation the PBT was up by 38% to Rs 17.88 crore. Taxation in absolute term was up by 29% to Rs 6.10 crore but the tax rate was lower at 34.1% compared to 36.4% in corresponding previous period. As tax rate stand lower, the PAT was up by 44% to Rs 11.78 crore. Finally the net profit was up by 37% to Rs 11.78 crore as the PPT write back was nil compared to Rs 0.42 crore in the corresponding previous period.

The stock hovers around Rs 200.30.