Exactly like in Q1FY17, this time too, it is efficient cost management alone which helped the company end Q2FY17 with a 94% (YoY) jump in net profit at Rs.21 crore. This was despite a 5% drop in total income at Rs.325 crore. The 11% drop in costs and 14% decline in interest outgo helped.

EBITDA came in at Rs.48 crore, up 67% while margins improved from 8.5% to 14.9%.

The company ended H1FY17 with a net profit at Rs.37 crore v/s Rs.44 crore for entire FY16 – sure to end Fy17 on a bumper note with two more quarters to go.

The company’s equity is heavy at Rs.55.63 crore and annualized EPS is at Rs.14 (FV of Rs.10).

Borrowings at end of H1FY17 stands at Rs.134 crore, down 30% (YoY). Cash has come down from Rs.43 crore to Rs.15 crore.

The company makes piston and piston rings used by automobile sector and is a market leader both in OEM and aftermarket. It has facilities at  Bengaluru, Patiala and Bhiwadi.

The German parent, Federal Mogul holds 14.93% and its holding company has 60.05% stake, taking the total promoters stake to 74.98%. Goetze is the technical collaborator.