Aug. 03, 2018 - Consolidated sales (without excise duty) for the quarter, increased by 22 percent to Rs.626 crores from Rs.512 crores driven by better performance from all the business segments. At a standalone level, sales (without excise duty) grew by 28 percent. 

Consolidated segmental profitability for the Quarter improved for all the segments on the back of higher volumes. 

The Company, at a consolidated level, spent Rs.16 cr on capital expenditure. The debt equity ratio was 0.08. Borrowings net of cash and cash equivalents was Rs.(79) cr i.e Company is having surplus cash. 

On a consolidated basis, profit before tax increased from Rs.59 cr to Rs.95 cr. Profit after tax and non-controlling interest was Rs.63 cr (corresponding period of previous year Rs.40 cr). 

Consolidated Segmental Operating Performance 

Abrasives 

Segment Revenue (without excise duty) were Rs.262 cr compared to last year’s Q1 revenue of Rs.218 cr resulting in a gain of 21%. Standalone standard mass market business, which was impacted owing to GST migration in quarter 1 of previous year, had a good growth to report in current quarter on a low base. Profit before interest and tax increased from Rs.22 cr to Rs.32 cr on the back of higher volumes. 

Electro Minerals 

Segment revenue (Without excise duty) were higher at Rs.239 cr versus Rs.202 cr for Quarter 1 of last year. India standalone business delivered good revenue growth on the back of higher volume and price growth. The Russian entity also delivered a better performance. Profit before interest and tax increased from Rs.28 cr to Rs.35 cr on the back of higher volumes.

Ceramics 

Segment Revenues (Without excise duty) were higher by 32 percent from Rs.110 cr to Rs.145 cr driven by improvement in volumes from standalone business. Profit before interest and tax at Rs.29 cr was higher compared to Rs.16 cr in Quarter 1 of last year.