Results 18-Nov-21
Analysis
Cords Cable Industries
Net up 52% gained by higher sales and lower depreciation
Standalone net sales (including other operating income) of Cords Cable Industries for quarter ended Sep 2021 has increased 27.06% to Rs 105.98 crore. Operating profit margin has declined from 10.61% to 9.41%, leading to 12.66% rise in operating profit to Rs 9.97 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 75.61% to 77.68%. Employee cost decreased from 7.15% to 5.10%. Other expenses rose from 6.56% to 8.13%. Other income up 3.33% to Rs 0.31 crore. PBIDT rose 12.35% to Rs 10.28 crore. Provision for interest up 11.30% to Rs 6.4 crore. PBDT rose 14.12% to Rs 3.88 crore. Provision for depreciation down 2.63% to Rs 1.85 crore. Profit before tax grew 35.33% to Rs 2.03 crore. Provision for tax was expense of Rs 0.51 crore, compared to Rs 0.5 crore. Effective tax rate was 25.12% compared to 33.33%. Profit after tax rose 52% to Rs 1.52 crore.
Half-yearly performance
Net sales (including other operating income) of Cords Cable Industries has increased 46.79% to Rs 194.36 crore. Operating profit margin has declined from 10.60% to 10%, leading to 38.49% rise in operating profit to Rs 19.43 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 74.68% to 76.60%. Employee cost decreased from 7.08% to 5.39%. Other expenses rose from 7.27% to 8.17%. Other income fell 26.25% to Rs 0.59 crore. PBIDT rose 35% to Rs 20.02 crore. Provision for interest up 29.76% to Rs 12.34 crore. PBDT rose 44.36% to Rs 7.68 crore. Provision for depreciation rose 3.39% to Rs 3.66 crore. Profit before tax grew 125.84% to Rs 4.02 crore. Provision for tax was expense of Rs 1.05 crore, compared to Rs 0.66 crore. Effective tax rate was 26.12% compared to 37.08%. Profit after tax rose 165.18% to Rs 2.97 crore. Other developments Equity capital stood at Rs 12.93 crore as of 30 September 2021 to Rs 12.93 crore as of 30 September 2020. Per share face Value remained same at Rs 10.00. Promoters’ stake was 51.64% as of 30 September 2021 ,compared to 51.64% as of 30 September 2020 .
Loan funds rose to Rs 82.83 crore as of 30 September 2021 from Rs 74.27 crore as of 30 September 2020. Inventories rose to Rs 62.19 crore as of 30 September 2021 from Rs 48.25 crore as of 30 September 2020. Sundry debtors were higher at Rs 116.62 crore as of 30 September 2021 compared to Rs 111.28 crore as of 30 September 2020. Cash and bank balance declined from Rs 19.81 crore as of 30 September 2020 to Rs 16.85 crore as of 30 September 2021. Investments rose to Rs 0.50 crore as of 30 September 2021 from Rs 0.42 crore as of 30 September 2020 . Fixed assets declined from Rs 93.66 crore as of 30 September 2020 to Rs 90.68 crore as of 30 September 2021.
Cords Cable Industries: Results
2109 (3)
2009 (3)
Var. (%)
2109 (6)
2009 (6)
Var. (%)
2103 (12)
2003 (12)
Var. (%)
Sales
105.98
83.41
27
194.36
132.41
47
323.37
420.89
-23
OPM (%)
9.4
10.6
10.0
10.6
10.7
9.9
OP
9.98
8.85
13
19.43
14.03
38
34.73
41.56
-16
Other inc.
0.31
0.30
5
0.59
0.80
-26
1.38
1.52
-9
PBIDT
10.28
9.15
12
20.02
14.83
35
36.11
43.08
-16
Interest
6.40
5.75
11
12.34
9.51
30
22.83
25.62
-11
PBDT
3.88
3.40
14
7.68
5.33
44
13.27
17.46
-24
Dep.
1.85
1.90
-3
3.66
3.54
3
7.08
6.61
7
PBT
2.03
1.50
36
4.02
1.78
126
6.19
10.85
-43
EO Exp
0.00
0.00
0.00
0.00
0.00
0.00
PBT after EO
2.03
1.50
36
4.02
1.78
126
6.19
10.85
-43
Provn for taxation
0.51
0.50
2
1.05
0.66
58
1.84
0.18
924
PAT
1.52
1.00
53
2.97
1.12
165
4.36
10.67
-59
EPS (Rs)*
#
#
#
#
3.4
8.3
* EPS is on current equity of Rs 12.9278 crore, Face value of Rs 10
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database
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