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Results
30-Jul-22
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Analysis
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Foseco India
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OP up 110%
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Foseco India standalone net sales increased
32.88% to Rs 99.75 crore in Q1FY23 compared to Q1FY22.
Operating profit margin has jumped from 9.18%
to 14.48%, leading to 109.58% rise in operating profit to Rs 14.44 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 55.81% to 53.39%. Purchase of finished goods cost rose from
2.78% to 3.07%. Employee cost decreased
from 12.30% to 10.80%. Other expenses
fell from 20.12% to 18.37%.
Other income fell 53.62% to Rs 1.41
crore. PBIDT rose 59.62% to Rs 15.85
crore. Provision for interest remained
nil.
PBDT rose 59.62% to Rs 15.85 crore. Provision for depreciation rose 17.27% to Rs
1.63 crore. Fixed assets declined from
Rs 33.63 crore as of 30 June 2021 to Rs 32.54 crore as of 30 June 2022.
Profit before tax grew 66.51% to Rs 14.22
crore. Provision for tax was expense of
Rs 3.66 crore, compared to Rs 2.23 crore.
Effective tax rate was 25.74% compared to 26.11%.
Profit after tax rose 67.35% to Rs 10.56
crore.
Equity capital stood at Rs 6.39 crore as of
30 June 2022 to Rs 6.39 crore as of 30 June 2021. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 74.98% as of 30 June
2022 compared to 74.98% as of 30 June 2021 .
For
year-to-date (YTD) results analysis
Net sales of Foseco India has increased
21.34% to Rs 198.49 crore.
Operating profit margin has jumped from
11.90% to 14.97%, leading to 52.72% rise in operating profit to Rs 29.72
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 55.01% to 53.64%. Purchase of finished goods cost rose from
2.97% to 2.98%. Employee cost decreased
from 11.19% to 10.74%. Other expenses
fell from 19.09% to 17.80%.
Other income up 1.04% to Rs 3.87 crore. PBIDT rose 44.22% to Rs 33.59 crore. Provision for interest remained nil.
PBDT rose 44.22% to Rs 33.59 crore. Provision for depreciation rose 17.33% to Rs
3.25 crore. Fixed assets declined from
Rs 33.63 crore as of 30 June 2021 to Rs 32.54 crore as of 30 June 2022.
Profit before tax grew 47.86% to Rs 30.34
crore. Provision for tax was expense of
Rs 7.56 crore, compared to Rs 4.94 crore.
Effective tax rate was 24.92% compared to 24.07%.
Profit after tax rose 46.21% to Rs 22.78
crore.
Equity capital stood at Rs 6.39 crore as of
30 June 2022 to Rs 6.39 crore as of 30 June 2021. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 74.98% as of 30 June
2022 ,compared to 74.98% as of 30 June 2021 .
Cash flow from operating activities increased
to Rs 34.72 crore for YTD ended June 2022 from Rs 6.62 crore for YTD ended June
2021. Cash flow used in acquiring fixed
assets during the YTD ended June 2022 stood at Rs 0.30 crore, compared to Rs
0.75 crore during the YTD ended June 2021.
Full
year results analysis
Net sales of Foseco India have increased
34.58% to Rs 338.01 crore. Operating
profit margin has jumped from 8.28% to 12.90%, leading to 109.67% rise in
operating profit to Rs 43.59 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
53.00% to 53.96%. Purchase of finished
goods cost rose from 2.26% to 3.08%.
Employee cost decreased from 14.31% to 11.33%. Other expenses fell from 21.98% to
18.81%.
Other income fell 9.66% to Rs 5.61
crore. PBIDT rose 82.22% to Rs 49.2
crore. Provision for interest remained
nil. Loan funds remained nil. Inventories rose to Rs 22.57 crore as of 31
December 2021 from Rs 12.51 crore as of 31 December 2020. Sundry debtors were higher at Rs 74.20 crore
as of 31 December 2021 compared to Rs 64.91 crore as of 31 December 2020. Cash and bank balance rose to Rs 149.81 crore
as of 31 December 2021 from Rs 137.01 crore as of 31 December 2020.
PBDT rose 82.22% to Rs 49.2 crore. Provision for depreciation down 0.51% to Rs
5.88 crore. Fixed assets increased to Rs
35.67 crore as of 31 December 2021 from Rs 35.62 crore as of 31 December 2020.
Profit before tax grew 105.41% to Rs 43.32
crore. Provision for tax was expense of
Rs 10.65 crore, compared to Rs 5.65 crore.
Effective tax rate was 24.58% compared to 26.79%.
Profit after tax rose 111.59% to Rs 32.67
crore.
Equity capital stood at Rs 6.39 crore as of
31 December 2021 to Rs 6.39 crore as of 31 December 2020. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 74.98% as of 31 December
2021 compared to 74.98% as of 31 December 2020 .
Cash flow from operating activities decreased
to Rs 19.74 crore for year ended December 2021 from Rs 30.29 crore for year
ended December 2020. Cash flow used in
acquiring fixed assets during the year ended December 2021 stood at Rs 5.47
crore, compared to Rs 4.42 crore during the year ended December 2020.
The scrip is currently trading at Rs 1826.
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Foseco India : Standalone Results
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Particulars
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2206
(03)
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2106
(03)
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Var.(%)
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2206
(06)
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2106
(06)
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Var.(%)
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2112
(12)
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2012
(12)
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Var.(%)
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Net
Sales
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99.75
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75.07
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33
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198.49
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163.58
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21
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338.01
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251.15
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35
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OPM
(%)
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14.5
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9.2
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15.0
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11.9
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12.9
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8.3
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OP
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14.44
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6.89
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110
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29.72
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19.46
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53
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43.59
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20.79
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110
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Other
Inc.
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1.41
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3.04
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-54
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3.87
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3.83
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1
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5.61
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6.21
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-10
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PBIDT
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15.85
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9.93
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60
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33.59
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23.29
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44
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49.2
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27
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82
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Interest
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0
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0
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0
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0
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0
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0
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PBDT
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15.85
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9.93
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60
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33.59
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23.29
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44
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49.2
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27
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82
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Depreciation
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1.63
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1.39
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17
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3.25
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2.77
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17
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5.88
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5.91
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-1
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PBT
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14.22
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8.54
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67
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30.34
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20.52
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48
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43.32
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21.09
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105
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Taxation
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3.66
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2.23
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64
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7.56
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4.94
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53
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10.65
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5.65
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88
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PAT
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10.56
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6.31
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67
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22.78
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15.58
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46
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32.67
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15.44
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112
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PPA
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0
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0
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0
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0
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0
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0
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Net Profit
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10.56
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6.31
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67
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22.78
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15.58
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46
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32.67
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15.44
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112
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EPS
(Rs)*
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#
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#
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#
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#
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51.1
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24.2
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Notes
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*
EPS is on current equity of Rs 6.39 crore, Face value of Rs 10, Excluding
extraordinary items.
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#
EPS is not annualised
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bps
: Basis points
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EO
: Extraordinary items
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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