TARA JEWELS

Tara Jewels posted a dismal set of consolidated numbers for Q4Fy16. Though net sales rose 9% (YoY) at Rs.574 crore, a 71% jump in raw material cost skewed all the math further. The company seems to have reduced employees as its employee cost came down significantly by 38%. It posted an EBIT of Rs.15 crore but after the interest outgo of Rs.24 crore, the company ended the quarter with a net loss of Rs.6 crore v/s profit of Rs.10 crore in Q4FY15. The tax write back of Rs.3 crore reduced the loss to that extent.

The company ended FY16 with a 4% rise in consolidated net sales at Rs.1801 crore and net profit slipped 43% to Rs.25 crore. Its borrowings stand quite high at Rs.474 crore. Cash at hand was at Rs.78 crore.