posted a consolidated profit after tax of Rs53cr in Q1FY20 as against Rs63cr for the corresponding quarter ended June 30, 2018.
The company consolidated sales for the quarter increased by 6% to Rs664cr from Rs626cr in the corresponding period of last year driven by growth in the Electro Minerals and Ceramics segments. At a standalone level, sales grew by 3%. Consolidated segmental profitability was impacted by lower margins across segments and lower volumes in Abrasives.
The Company, at a consolidated level, spent Rs38cr on capital expenditure. The debt-equity ratio was 0.06. Cash and cash equivalents net of borrowings was at Rs114cr.
Further, the company’s ceramics segment revenues were higher by 14% at Rs165cr as against Rs145cr in Q1 of last year. Electro Minerals segment revenue achieved 11% growth, at Rs264cr vs. Rs239cr in Q1 of last year. Growth was driven by the performance of the Russian entity.
The Board has recommended the appointment of Soundara Kumar, as an Independent Woman Director.