This is India’s third largest sanitary ware company, based in Ahmedabad. The company has posted a good performance for Q1FY17. Driven mainly by strong topline, it posted a net profit of Rs.21 crore, up 31% (YoY). Net sales rose 12% at Rs.224 crore. Raw material costs rose 25% but this was more than offset by a 43% drop in power and fuel costs. Its interest costs too came down 57%. Operating profit was at Rs.32 crore, up 33% and margins rose from 12.06% to 14.28%.

The company’s equity stands at Rs.6.50 crore and EPS for Q1 is at Rs.16.45 (FV of Rs.5/share) v/s Rs.12.05.  

The company has now emerged has a complete bathroom solutions company, with a strong brand image and holds the third position, after HSIL and Parryware Roca. It enjoys a market share of around 24%. Sanitary ware accounts for 74% of its income, faucets and tiles bring in 15% and 7%,respectively, with rest coming from lifestyle business - bathtubs, jacuzzis, steam cubicles, shower partitions, shower panels and allied sanitary ware products.  The beginning has been good and hopefully the good tidings will continue.