• Sales for the quarter were higher by 6% (to Rs 100.54 crore) but the value of production was higher by 6% to Rs 98.47 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 120 bps to 9.2%. Expansion in OPM can be attributed to lower material and other expenses. Material cost as proportion to sales net of stocks was lower by 70 bps to 70%. But the OE was lower by 100bps (to 11.1%). But staff cost was up by 40 bps (to 9.6%) respectively. Thus facilitated by higher sales and strong OPM expansion, the operating profit was up by strong 24% to Rs 9.24 crore.

• Other income was higher by 260% to Rs 0.08 crore, the interest and depreciation cost in absolute term was up by 22% (to Rs 5.44 crore) and 1% (to Rs 1.25 crore) respectively. But the interest and depreciation cost as proportion to operating profit stood lower there by facilitating 49% jump growth in PBT to RS 2.62 crore.

• The taxation was up by 58% to Rs 0.93 crore in absolute terms. The tax rate too was higher at 35.4% compared to 33.3% in the corresponding previous period. Thus the PAT was up by 44% to Rs 1.70 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 191.90.