OPM rose 210 basis points to 18.1% which saw OP rise 25% to Rs 164.10 crore.

Other income grew 3% to Rs 22.60 crore and interest cost fell 10% to Rs 1.80 crore. After providing for depreciation (up 2% to Rs 31.90 crore), PBT went up 27% to Rs 153 crore.

Provision for taxation grew 21% to Rs 36.30 crore after which PAT went up 29% to Rs 116.70 crore.

Minority interest (MI) grew 7% to Rs 4.90 crore. Thus net profit went up 30% to Rs 111.80 crore.

YoY quarterly results

On yoy basis, it registered 23% rise in sales. OPM improved 150 basis points which saw OP grow 34%. PBT jumped 63%and net profit went up 66%.

Six months results

For the six months, it registered 20% rise in consolidated sales to Rs 1732.30 crore.

OPM rose 110 basis points to 17.1% which saw OP rise 28% to Rs 295.60 crore.

Other income grew 155% to Rs 44.60 crore and interest cost fell 10% to Rs 3.80 crore. After providing for depreciation (down 4% to Rs 63.10 crore), PBT went up 53% to Rs 273.30 crore.

Provision for taxation grew 33% to Rs 66.20 crore after which PAT went up 61% to Rs 207.10 crore.

Minority interest (MI) fell 8% to Rs 9.50 crore. Thus net profit went up 67% to Rs 197.60 crore.

FY 2018 results

In FY 2018, it registered 7% rise in sales to Rs 2991.40 crore. OPM improved 130 basis points to 16.8% which saw OP grow 16% to Rs 401.30 crore. PBT grew 23% to Rs 403.60 crore. Net profit had grown 12% to Rs 280.20 crore.

Valuation

The stock trades at Rs 1213.