|
Orient Refractories net sales rose 23% to Rs 157.83 crore for quarter ended December 2017 compared to corresponding previous year period. The company operating margins rose 110 bps to 21%. As a result operating was up 30% to Rs 33.09 crore.
Cost of material consumed as a percentage of net sales (net of stock adjustment) rose 310 bps to 39.3% while purchase of stock in trade fell 520 bps to 15.9%. Employee benefit expenses increased 130 bps to 7.3% and other expense increased 190 bps to 17.1%.
Other income of the company rose 9% to Rs 2.14 crore. Interest cost nil. Depreciation rose 2% to Rs 1.74 crore. PBT as a result rose 30% to Rs 33.5 crore. The effective tax rate fell to 34.4% compared to 34.8% owing to which the company's PAT increased 31% to Rs 21.99 crore.
Nine months ended Performance
For nine months ended December 2017, net sales rose 14% to Rs 447.93 crore compared to corresponding previous year. The company operating margins fell 40 bps to 19.2%. As a result operating was up 12% to Rs 86.15 crore.
Cost of material consumed as a percentage of net sales (net of stock adjustment) was up 80 bps to 38.8% while purchase of stock in trade fell 250 bps at 16.5%. Employee benefit expenses increased 10 bps to 7.9% and other expense increased 150 bps to 17.4%.
Other income of the company rose 26% to Rs 7.68 crore. Interest cost was nil. Depreciation rose 7% to Rs 5.12 crore. PBT as a result rose 13% to Rs 88.71 crore. The effective tax rate fell to 34.2% compared to 34.7% owing to which the company's PAT increased 14% to Rs 58.38 crore.
The scrip is currently trading at Rs 170
|