During the year, profits surged 63.19 per cent to Rs 313.92 crore against Rs 305.81 crore predicted by analysts surveyed by Bloomberg. The company reported a rise in operating margin of 233 basis points to 12.48 per cent during FY08 on lower input cost. Net sales for the year climbed 15.09 per cent over previous year to Rs 3,875.76 crore as against Rs 4,085.34 crore estimated by the analysts.
The scrip has underperformed the market over the past one month, falling 13.24 per cent compared to the Sensex's loss of 0.29 per cent. Even though the stock closed at Rs 232, losing 2.32 per cent compared to its price a week earlier, strong results could bolster the stock price going forward.
