For the
quarter ending Dec 2021, consolidated net sales (including other operating income) of L G Balakrishnan & Bros has increased 15.18% to Rs 573.91 crore compared to quarter ended Dec 2020. Sales of Metal Forming segment has gone up 10.89% to Rs 109.61 crore (accounting for 19.10% of total sales). Sales of Transmission segment has gone up 16.24% to Rs 464.30 crore (accounting for 80.90% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 32.73% to Rs 100.08 crore. PBIT of Metal Forming segment rose 21.85% to Rs 13.47 crore (accounting for 13.46% of total PBIT). PBIT of Transmission segment rose 34.60% to Rs 86.61 crore (accounting for 86.54% of total PBIT).
PBIT margin of Metal Forming segment rose from 11.18% to 12.29%. PBIT margin of Transmission segment rose from 16.11% to 18.65%. Overall PBIT margin rose from 15.13% to 17.44%.
Operating profit margin has jumped from 18.33% to 20.15%, leading to 26.62% rise in operating profit to Rs 115.67 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 44.89% to 46.63%. Employee cost decreased from 15.02% to 12.63%. Other expenses fell from 22.48% to 21.12%. Other income rose 40.96% to Rs 2.65 crore. PBIDT rose 26.91% to Rs 118.32 crore. Provision for interest rose 6.28% to Rs 2.54 crore.
PBDT rose 27.45% to Rs 115.78 crore. Provision for depreciation rose 0.19% to Rs 21.16 crore.
Profit before tax grew 35.71% to Rs 94.62 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 23.48 crore, compared to Rs 16.09 crore. Effective tax rate was 24.82% compared to 23.04%.
Minority interest increased 100% to Rs 0.06 crore. Net profit attributable to owners of the company increased 32.32% to Rs 71.08 crore. Promoters’ stake was 34.32% as of 31 December 2021 ,compared to 43.36% as of 31 December 2020 . For year-to-date (YTD) results analysis.
Net sales (including other operating income) of L G Balakrishnan & Bros has increased 39.04% to Rs 1543.2 crore. Sales of Metal Forming segment has gone up 52.42% to Rs 317.68 crore (accounting for 20.59% of total sales). Sales of Transmission segment has gone up 35.94% to Rs 1,225.52 crore (accounting for 79.41% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 113.55% to Rs 238.30 crore. PBIT of Metal Forming reported profit of Rs 41.63 crore compared to loss of Rs 4.94 crore. PBIT of Transmission segment rose 68.78% to Rs 196.67 crore (accounting for 82.53% of total PBIT).
PBIT margin of Metal Forming segment rose from negative 2.37% to 13.10%. PBIT margin of Transmission segment rose from 12.93% to 16.05%. Overall PBIT margin rose from 10.05% to 15.44%.
Operating profit margin has jumped from 14.79% to 18.38%, leading to 72.74% rise in operating profit to Rs 283.60 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.20% to 46.79%. Employee cost decreased from 16.28% to 14.00%. Other expenses fell from 23.21% to 21.56%. Other income rose 128.61% to Rs 8.71 crore. PBIDT rose 74% to Rs 292.31 crore. Provision for interest fell 29.30% to Rs 5.72 crore.
PBDT rose 79.23% to Rs 286.59 crore. Provision for depreciation rose 0.08% to Rs 62.62 crore.
Profit before tax grew 130.11% to Rs 223.97 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs 17.72 crore. Provision for tax was expense of Rs 59.54 crore, compared to Rs 27.66 crore. Effective tax rate was 24.63% compared to 26.99%.Net profit attributable to owners of the company increased 141.09% to Rs 181.95 crore.
Promoters’ stake was 34.32% as of 31 December 2021 ,compared to 43.36% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of L G Balakrishnan & Bros has increased 4.29% to Rs 1608.99 crore. Sales of Metal Forming segment has gone down 13.41% to Rs 306.93 crore (accounting for 19.08% of total sales). Sales of Transmission segment has gone up 9.57% to Rs 1,302.06 crore (accounting for 80.92% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 60.86% to Rs 185.91 crore. PBIT of Metal Forming segment fell 57.48% to Rs 4.25 crore (accounting for 2.29% of total PBIT). PBIT of Transmission segment rose 72.06% to Rs 181.66 crore (accounting for 97.71% of total PBIT).
PBIT margin of Metal Forming segment fell from 2.82% to 1.38%. PBIT margin of Transmission segment rose from 8.88% to 13.95%. Overall PBIT margin rose from 7.49% to 11.55%.
Operating profit margin has jumped from 12.07% to 15.72%, leading to 35.78% rise in operating profit to Rs 252.89 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.43% to 45.73%. Employee cost decreased from 16.91% to 15.37%. Other expenses fell from 25.52% to 23.10%. Other income rose 90.44% to Rs 6.97 crore. PBIDT rose 36.83% to Rs 259.86 crore. Provision for interest fell 34.12% to Rs 10.04 crore. Loan funds declined from Rs 91.87 crore as of 31 March 2020 to Rs 70.86 crore as of 31 March 2021. Inventories rose to Rs 301.28 crore as of 31 March 2021 from Rs 289.69 crore as of 31 March 2020. Sundry debtors were higher at Rs 246.65 crore as of 31 March 2021 compared to Rs 174.61 crore as of 31 March 2020. Cash and bank balance rose to Rs 146.44 crore as of 31 March 2021 from Rs 5.02 crore as of 31 March 2020. Investments rose to Rs 62.94 crore as of 31 March 2021 from Rs 19.58 crore as of 31 March 2020 .
PBDT rose 43.02% to Rs 249.82 crore. Provision for depreciation rose 5.92% to Rs 83.32 crore. Fixed assets declined from Rs 578.78 crore as of 31 March 2020 to Rs 543.47 crore as of 31 March 2021. Intangible assets increased from Rs 14.79 crore to Rs 15.16 crore.
Profit before tax grew 73.42% to Rs 166.50 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs 13.62 crore. Provision for tax was expense of Rs 47.27 crore, compared to Rs 24.72 crore. Effective tax rate was 26.24% compared to 21.31%.
Minority interest decreased 74.29% to Rs -0.61 crore. Net profit attributable to owners of the company increased 45.65% to Rs 133.46 crore.
Equity capital stood at Rs 31.39 crore as of 31 March 2021 to Rs 31.39 crore as of 31 March 2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 43.36% as of 31 March 2021 ,compared to 47.38% as of 31 March 2020 .
Cash flow from operating activities increased to Rs 211.00 crore for year ended March 2021 from Rs 203.43 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 38.39 crore, compared to Rs 89.08 crore during the year ended March 2020.
| L G Balakrishnan & Bros : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
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| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 573.91 | 498.28 | 15.18 | 1,543.20 | 1,109.91 | 39.04 | 1,608.99 | 1,542.83 | 4.29 | | OPM (%) | 20.15 | 18.33 | 182 bps | 18.38 | 14.79 | 359 bps | 15.72 | 12.07 | 365 bps | | OP | 115.67 | 91.35 | 26.62 | 283.60 | 164.18 | 72.74 | 252.89 | 186.25 | 35.78 | | Other Inc. | 2.65 | 1.88 | 40.96 | 8.71 | 3.81 | 128.61 | 6.97 | 3.66 | 90.44 | | PBIDT | 118.32 | 93.23 | 26.91 | 292.31 | 167.99 | 74.00 | 259.86 | 189.91 | 36.83 | | Interest | 2.54 | 2.39 | 6.28 | 5.72 | 8.09 | -29.30 | 10.04 | 15.24 | -34.12 | | PBDT | 115.78 | 90.84 | 27.45 | 286.59 | 159.90 | 79.23 | 249.82 | 174.67 | 43.02 | | Depreciation | 21.16 | 21.12 | 0.19 | 62.62 | 62.57 | 0.08 | 83.32 | 78.66 | 5.92 | | PBT | 94.62 | 69.72 | 35.71 | 223.97 | 97.33 | 130.11 | 166.5 | 96.01 | 73.42 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 1.16 | - | | PBT before EO | 94.62 | 69.72 | 35.71 | 223.97 | 97.33 | 130.11 | 166.5 | 97.17 | 71.35 | | EO Income | 0 | 0.12 | - | 17.72 | 5.15 | 244.08 | 13.62 | 18.83 | -27.67 | | PBT after EO | 94.62 | 69.84 | 35.48 | 241.69 | 102.48 | 135.84 | 180.12 | 116 | 55.28 | | Taxation | 23.48 | 16.09 | 45.93 | 59.54 | 27.66 | 115.26 | 47.27 | 24.72 | 91.22 | | PAT | 71.14 | 53.75 | 32.35 | 182.15 | 74.82 | 143.45 | 132.85 | 91.28 | 45.54 | | Minority Interest (MI) | 0.06 | 0.03 | 100.00 | 0.2 | -0.65 | PL | -0.61 | -0.35 | -74.29 | | Net profit | 71.08 | 53.72 | 32.32 | 181.95 | 75.47 | 141.09 | 133.46 | 91.63 | 45.65 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 71.08 | 53.72 | 32.32 | 181.95 | 75.47 | 141.09 | 133.46 | 91.63 | 45.65 | | EPS (Rs)* | 22.64 | 17.08 | 32.54 | 53.71 | 22.83 | 135.23 | 39.30 | 24.46 | 60.63 | | | * EPS is on current equity of Rs 31.39 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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| L G Balakrishnan & Bros : Consolidated Segment Results |
td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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| Sales | | Metal Forming | 19.10 | 109.61 | 98.85 | 10.89 | 20.59 | 317.68 | 208.43 | 52.42 | 19.08 | 306.93 | 354.47 | -13.41 | | Textiles | 0.00 | 0.00 | 0.00 | - | | Transmission | 80.90 | 464.30 | 399.43 | 16.24 | 79.41 | 1,225.52 | 901.49 | 35.94 | 80.92 | 1,302.06 | 1,188.36 | 9.57 | | Total Reported Sales | 100.00 | 573.91 | 498.28 | 15.18 | 100.00 | 1,543.20 | 1,109.91 | 39.04 | 100.00 | 1,608.99 | 1,542.83 | 4.29 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 573.91 | 498.28 | 15.18 | 100.00 | 1,543.20 | 1,109.91 | 39.04 | 100.00 | 1,608.99 | 1,542.83 | 4.29 | | PBIT | | Metal Forming | 13.46 | 13.47 | 11.06 | 21.85 | 17.47 | 41.63 | -4.94 | LP | 2.29 | 4.25 | 9.99 | -57.48 | | Textiles | 0.00 | 0.00 | 0.00 | - | | Transmission | 86.54 | 86.61 | 64.34 | 34.60 | 82.53 | 196.67 | 116.53 | 68.78 | 97.71 | 181.66 | 105.58 | 72.06 | | Total PBIT | 100.00 | 100.08 | 75.40 | 32.73 | 100.00 | 238.30 | 111.59 | 113.55 | 100.00 | 185.91 | 115.58 | 60.86 | | Less : Interest | | 2.54 | 2.39 | 6.09 | | 5.72 | 8.09 | -29.31 | | 10.04 | 15.24 | -34.11 | | Add: Other un-allcoable | | -2.92 | -3.18 | 8.18 | | 9.11 | -1.02 | LP | | 4.25 | 14.50 | -70.71 | | PBIT Margin(%) | | Metal Forming | | 12.29 | 11.18 | 110.58 | | 13.10 | -2.37 | 1,547.39 | | 1.38 | 2.82 | -143.48 | | Textiles | | 0.00 | 0.00 | 0.00 | | Transmission | | 18.65 | 16.11 | 254.40 | | 16.05 | 12.93 | 312.17 | | 13.95 | 8.88 | 506.71 | | PBT | 100.00 | 94.62 | 69.83 | 35.50 | 100.00 | 241.69 | 102.48 | 135.83 | 100.00 | 180.12 | 114.84 | 56.84 |
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