Other income decreased 68% to Rs 1.77 crore compared to Rs 5.59 crore. Interest cost was up 63% to Rs 2.98 crore. Depreciation rose 12% to Rs 7.19 crore. PBT was down 34% to Rs 7.05 crore.
Tax expense during the quarter was a credit of Rs 2.83 crore compared to tax expense of Rs 3.71 crore. PAT reported was up 41% to Rs 9.88 crore.
Segment wise, Specialties revenue stood at Rs 330.44 crore, down by 25% YoY and accounted for 76% of total sales. PBIT from the same was down by 40% to Rs 14.08 crore. PBIT margin was at 4.3% as compared to 5.3% for Sep18 quarter.
For the quarter, sales from the polystyrene segment stood at Rs 106.41 crore down by 18% YoY and accounted for 24% of total sales. PBIT from the same reported a loss of Rs 0.94 crore compared to loss of Rs 6.7 crore in Sep18 quarter.
Performance for the half year ended September 2019
For 6 months ended Sep 19, net sales were down by 24% to Rs 880.32 crore. OPM stood at 4.4% as compared to 3.9% for H1FY 19, thus resulting in a 13% decrease in OP to Rs 39.14 crore. Other income was down by 57% to Rs 3.64 crore. Interest cost was up by 91% to Rs 7.07 crore while depreciation is up by 14% to Rs 14.35 crore. This resulted in 43% decrease in PBT to Rs 21.38 crore. After considering total tax expense of Rs 2.21 crore, PAT for 6 months ended Sep 19 decreased 20% to Rs 19.17 crore.
Specialties- For the 6 months ended Sep19, net sales in specialties segment was down by 26% YoY to Rs 650.79 crore and accounted for 74% of total sales. PBIT stood at Rs 24.63 crore with PBIT margin of 3.8%.
Polystyrene - The segment reported net sales of Rs 229.53 crore down by 20% YoY. PBIT stood at Rs 4.91 crore as compared to loss at PBIT of Rs 7.34 crore.
The scrip is currently trading at Rs 671
Ineos Styrolution India: Results
INEOS Styrolution: Segment Results
Powered by Capital Market - Live News