A higher excise duty outgo, increased cost of raw materials, a 24% surge in operating costs, a 74% drop in other income pushed down the net profit of the company to Rs.41 crore, down 21% (YoY) and this was despite a 15% rise in net sales at Rs.218 crore.

The market chose to look at the overall improvement in operational efficiency, indicated by the rise in sales and gave it the thumbs up, unmindful of the fall in net profit. The company ended FY15 with a 1.3% rise in net profit at Rs.152 crore.

The stock is up currently almost 5% at Rs.1667 or up by Rs.74, with an intra day high at Rs.1681.90. Volumes are pretty small at 2300 shares because as such it is a thinly traded stock, with two-week average at just over 8000 shares.