Analysts on an average expect adjusted consolidated profit after tax of the company to grow by 10.30 percent year-on-year to Rs 76 crore for the quarter. In the third quarter of previous financial year 2011-12, the company had incurred a foreign exchange gain of Rs 13.54 crore on its FCCBs.
Operating profit margin is likely to rise by 175 basis points YoY to 15.8 percent and earnings before interest, tax, depreciation & amortisation is seen rising 15 percent to Rs 187 crore during the quarter.
The foreign research firm Nomura has recommended a buy rating on the stock with a target price of Rs 109.
"Margins are likely to improve this quarter, driven by improved capacity utilization especially in the domestic custom moulding business. Adjusted for forex losses, bottomline is likely to grow 13 percent year on year to over Rs 80 crore," Nomura reasoned.
At 10:38 hours IST, the stock went up 0.65 percent to Rs 69.45 on Bombay Stock Exchange.
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