Insecticides India sales up 29% in Q4

The company's sales were up by 29% to Rs. 105.8 crore during the quarter ended December 2010 and by 21% to Rs. 394.44 crore during the nine months ended December 2010. OPM grew by 60 and 110 basis points during the quarter and the nine month period respectively. PAT was up by 25% to Rs. 6.95 crore during the quarter and by 20% to Rs. 26.08 crore during the nine month period.

The company' sales grew by 29% to Rs. 105.8 crore. OPM grew by 60 basis points to 9.9%. Raw materials cost grew by 79% to Rs. 64.73 crore, which is 10% more as a % of sales. Employees cost grew by 49% to Rs. 3.18 crore and other expenditure grew by 13% to Rs. 33.36 crore but declined 9.2% as a % of sales.

Other income declined 98% to Rs. 54000 from Rs. 24 lakh. Interest expense grew by 50% to Rs. 91 lakh and depreciation also grew by 27% to Rs. 39 lakh. PBT after EO stood at Rs. 9.13 crore against Rs. 6.9 crore, showing a 32% growth. Effective tax rate grew 500 basis points to 24%, thus reducing the growth in PAT, which grew by 25% to Rs. 6.95 crore.

During the nine month period December 2010, sales grew by 21% to Rs. 394.44 crore. OPM grew by 110 basis points to 9.8%. Consumption of raw materials grew by 26% to Rs. 229.39 crore, but being 0.7% less as a % of sales. Other expenditure grew by 28% to Rs. 123.02 crore. Employees cost also grew by 42% to Rs. 8.5 crore, being 0.2% more as a % of sales.

Other income was at Rs. 8 lakh declining 91%. Interest expense grew by 48% to Rs. 2.71 crore and depreciation grew by 27% to Rs. 1.14 crore. PBT after EO grew by 30% to Rs. 34.8 crore. Effective tax rate for the period grew by 600 basis points to 25%. Hence PAT grew by just 20% to Rs. 26.08 crore.