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DIRECTORS’
REPORT
Your Directors are pleased to present the 31st Annual Report together with the audited financial
statements of your Company for the financial year ended 31st March 2017.
Financial Results
The Company’s financial performance for the year ended on 31st March 2017 is summarised below:
(Rs. in crore)
Particular
Standalone
Consolidated
Year ended
31st March 2017
Year ended
31st March 2016
Year ended
31st March 2017
Year ended
31st March 2016
Revenue (Net Sales)
2526
2441
2546
2409
Profit Before Depreciation, Interest and taxes
439
384
496
457
Profit before Tax
407
355
396
361
Tax Expense
137
118
142
125
Profit After Tax (before Minority interest)
270
237
254
236
Minority Interest
-
-
1
5
Profit After Tax (after Minority interest)
270
237
253
231
Transferred to General Reserve
75
60
75
60
Financial highlights & State of Affairs of the
Company
(The financial discussion is based on Standalone Financial
Statements)
Your Company registered 3.48% growth in net sales from Rs.
2441 crores in 2015-16 to Rs. 2526 crores in 2016-17 despite
the subdued sentiment prevailing in the real estate industry
and the temporary disruption in the cash economy due to
demonetization. This uptick largely owned to new product
launches during the year under review which were well received
by customer pan-India.
Earnings before interest depreciation and tax (EBIDTA) increased
by 14% from Rs. 384 crore in 2015-16 to Rs. 439 crore in 2016-
17 due to increased sales of value-added tiles, cost optimization
arising from shopfloor efficiencies. The profit after tax grew by
14% from Rs. 237 crore in 2015-16 to Rs. 270 crore in 2016-17.
The earnings per share (basic) increased from Rs. 14.87 in 2015-
16 to Rs. 16.96 in 2016-17.
The State of affairs of the Company is detailed in the
“Management Discussion & Analysis” section which forms part
of this report.
Outlook
Investment-inducing and business-strengthening Government
policies coupled with growing affluence and soaring aspiration
are expected to sustain the sectoral growth momentum over
the coming years. Further, the promise of industry consolidation
arising out of Government policies, raises the hopes for widening
growth opportunities over the medium term.
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