Feb. 14, 2018 - The Board of Directors met today and approved the resu ts for the quarter and nine months ended 31" Dec 2017. 

Consolidated Q3 financial performance 

Consolidated net sales (excluding excise duty) for the quarter, increased by 15 percent to Rs.600 crores from Rs.S20 crores driven by better performance from all segments. At standalone level, net sales grew up by 23 percent. 

Consolidatec Profit after tax increased by 24% from Rs.44 crores to Rs.54 crores in the current quarter. 

The gaiin in sales and profit were due to better performance from Abrasives, Ceramics and Electro mineral businesses. 

The debt equity ratio remained healthy ancl was at 0.01 on a standalone basis and 0.09 on a consolidated basis. 

Consolidated Segmental Operating Performance 

Abrasives 

At a consolidated level, the net sales for the quarter were at Rs.270 cr which was 15% higher than the similar period last year. On a sequential basis, the net sales were higher by 4% with Q2 2017-18 sales at Rs.259 cr. 

PBIT margin in Abrasives increased from 12.2% in Q3 of last year to 13.5% in current quarter. The margins have improved on the back of higher sales in standalone business.  

Electro Minerals 

At a consolidated level, the net sales for current quarter were at Rs.228 cr which was nigher by Rs.33 cr and Rs.11 cr compared to Q3 of last year and Q2 of current year respectively. 

Consolidated Profit before Interest Tax of electro mineral division grew up from Rs.21 cr in Q3 of last year to Rs.34 cr in current quarter. Russian subsidiary and standalone business exhibited better performance. 

Ceramics 

At a consolidated level, the net sales for Q3 were at Rs.122 cr versus Rs. 103 cr for the corresponding quarter last year. This is a growth of 18%. On a sequential basis, the net sales grew by 1%. 

Profit before interest and tax of the Ceramics business at consolidated level at Rs.20 cr recorded an increase of 24% compared to corresponding quarter last year.