During Q1FY09 Bilpower, net sales rose 73.02% to Rs.1036 mn over the corresponding period of the previous year. EBITDA margin has declined by 264bps to 9.93% on account of rise in raw material cost, which jumped by 94.56% to Rs.946.12 mn. Raw material as a percentage of sales reached to 91.32% as compared to corresponding period of the last year where it was only 81.21%.
The company has been in expansion mode from last two years. Capital expenditure planned in FY08 is progressing as per the schedules. The company is expected to report an EPS of Rs 29 for FY09. Here is over coverage on Bilpower and Lakshmi Energy Foods.