'Shivalik Rasayan net sales rose 1% for quarter ended June20 to Rs 46.01 crore compared to corresponding previous year quarter. The company reported 100 bps decreases in operating margins to 14.1%. As a result operating profits fell 5% to Rs 6.49 crore. Other income was down 56% to Rs 21 lakh compared to Rs 48 lakh. Interest cost was down 32% to Rs 25 lakh. Depreciation rose 121% to Rs 1.65 crore. PBT as a result fell 23% to Rs 4.8 crore. Tax expense was flat at Rs 94 lakh. Profit after tax of the company decreased 27% to Rs 3.86 crore. Further considering MI net profit of the company fell 24% to Rs 2.51 crore.
During the quarter under review expenses amounting Rs 1.69 crore pertains to Pharma API plant at Dahej which has commenced operations in April'20. However, major revenue from Pharma API plant will commence after US FDA approval.
Commenting on the result Rahul Bishnoi, Chariman of the Board, said "In last couple of years Shivalik Rasayan has laid a stro...
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