• Sales for the quarter were higher by 15% (to Rs 142.89 crore) but the value of production was higher by 19% to Rs 143.12 crore. Sales higher than value of production for the quarter is largely due to liquidation of earlier period works.

• Operating profit margin for the quarter expanded by 290 bps to 8.8%. Expansion in OPM can be attributed to lower staff and other expenses. Material cost as proportion to sales net of stocks was higher by 580 bps to 74.1%. But the staff and OE was lower by 150 bps (to 7.9%) and 710 bps (to 9.3%) respectively. Thus facilitated by higher sales and strong OPM expansion, the operating profit was up by strong 72% to Rs 12.54 crore.

• Other income was lower by 42% to Rs 1.0 crore, the interest cost was higher by 83% to Rs 5.95 crore and the depreciation was higher by 233% to Rs 1.28 crore. Thus the PBT was up by 18% to Rs 6.34 crore.

• The taxation was down by 20% to Rs 1.31 crore in absolute terms. The tax rate too was lower at 20.7% compared to 30.5% in the corresponding previous period. Thus the PAT was up by 34% to Rs 5.03 crore.

Yearly performance

Sales were higher by 10% to Rs 463.11 crore and with 100 bps expansion in OPM, the operating profit was up by 26% to Rs 37.10 crore. The other income was lower by 7% to Rs 2.07 crore. The interest cost was higher by 20% to Rs 18 crore and depreciation was lower by 12% to Rs 5.02 crore. Thus the PBT was up by 32% to Rs 16.15 crore. After accounting for higher taxation (up 22% to Rs 4.60 crore) the net profit was up by 37% to Rs 11.55 crore.

Consolidated sales was up by 10% to Rs 463.11 crore and with OPM expand by 100 bps the operating profit was up by 26% to Rs 37.01 crore. Eventually the PAT was up by 38% to Rs 11.34 crore.

The stock hovers around Rs 162.