For
the quarter ending sept 2022, consolidated, net sales (including other operating income) of Craftsman Automation has increased 35.94% to Rs 776.24 crore compared to quarter ended sept 2021. Sales of Automotive-Powertrain & Other segment has gone up 29.46% to Rs 378.18 crore (accounting for 48.72% of total sales). Sales of Automotive-Aluminium Products segment has gone up 39.53% to Rs 196.34 crore (accounting for 25.29% of total sales). Sales of Industrial & Engineering segment rose 46.00% to Rs 201.72 crore (accounting for 25.99% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 26.27% to Rs 133.61 crore. PBIT of Automotive-Powertrain & Other segment rose 7.97% to Rs 92.89 crore (accounting for 69.52% of total PBIT). PBIT of Automotive-Aluminium Products segment rose 0.95% to Rs 14.85 crore (accounting for 11.11% of total PBIT). PBIT of Industrial & Engineering segment rose 410.26% to Rs 25.87 crore (accounting for 19.36% of total PBIT).
PBIT margin of Automotive-Powertrain & Other segment fell from 29.45% to 24.56%. PBIT margin of Automotive-Aluminium Products segment fell from 10.45% to 7.56%. PBIT margin of Industrial & Engineering segment rose from 3.67% to 12.82%. Overall PBIT margin fell from 18.53% to 17.21%.
Operating profit margin has declined from 25.15% to 22.18%, leading to 19.91% rise in operating profit to Rs 172.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 47.09% to 51.69%. Employee cost decreased from 8.20% to 7.36%. Other expenses fell from 20.02% to 19.01%. Other income rose 171.88% to Rs 1.74 crore. PBIDT rose 20.58% to Rs 173.93 crore. Provision for interest rose 31.08% to Rs 23.28 crore. Loan funds declined from Rs 819.60 crore as of 30 September 2021 to Rs 810.96 crore as of 30 September 2022. Inventories rose to Rs 632.09 crore as of 30 September 2022 from Rs 476.59 crore as of 30 September 2021. Sundry debtors were higher at Rs 374.40 crore as of 30 September 2022 compared to Rs 234.61 crore as of 30 September 2021. Cash and bank balance rose to Rs 47.84 crore as of 30 September 2022 from Rs 42.55 crore as of 30 September 2021. Investments rose to Rs 2.59 crore as of 30 September 2022 from Rs 2.39 crore as of 30 September 2021 .
PBDT rose 19.11% to Rs 150.65 crore. Provision for depreciation rose 9.34% to Rs 54.69 crore. Fixed assets increased to Rs 1,648.04 crore as of 30 September 2022 from Rs 1,530.57 crore as of 30 September 2021. Intangible assets declined from Rs 5.26 crore to Rs 3.73 crore.
Profit before tax grew 25.50% to Rs 95.96 crore. Share of profit/loss was 25% higher at Rs 0.1 crore. Provision for tax was expense of Rs 33.58 crore, compared to Rs 26.58 crore. Effective tax rate was 34.96% compared to 34.73%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 25.06% to Rs 62.48 crore. Equity capital stood at Rs 10.56 crore as of 30 September 2022 to Rs 10.56 crore as of 30 September 2021. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 58.77% as of 30 September 2022 ,compared to 59.76% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Craftsman Automation has increased 44.42% to Rs 1453.2 crore. Sales of Automotive-Powertrain & Other segment has gone up 38.43% to Rs 725.97 crore (accounting for 49.96% of total sales). Sales of Automotive-Aluminium Products segment has gone up 51.92% to Rs 367.73 crore (accounting for 25.30% of total sales). Sales of Industrial & Engineering segment rose 49.98% to Rs 359.50 crore (accounting for 24.74% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 48.26% to Rs 261.63 crore. PBIT of Automotive-Powertrain & Other segment rose 26.82% to Rs 188.27 crore (accounting for 71.96% of total PBIT). PBIT of Automotive-Aluminium Products segment rose 82.17% to Rs 35.25 crore (accounting for 13.47% of total PBIT). PBIT of Industrial & Engineering segment rose 340.07% to Rs 38.11 crore (accounting for 14.57% of total PBIT).
PBIT margin of Automotive-Powertrain & Other segment fell from 28.31% to 25.93%. PBIT margin of Automotive-Aluminium Products segment rose from 7.99% to 9.59%. PBIT margin of Industrial & Engineering segment rose from 3.61% to 10.60%. Overall PBIT margin rose from 17.54% to 18.00%.
Operating profit margin has declined from 24.98% to 23.18%, leading to 34.03% rise in operating profit to Rs 336.87 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.87% to 50.07%. Employee cost decreased from 8.68% to 7.80%. Other expenses fell from 20.66% to 19.21%. Other income rose 138.28% to Rs 3.05 crore. PBIDT rose 34.56% to Rs 339.92 crore. Provision for interest rose 20.97% to Rs 48.69 crore. Loan funds declined from Rs 819.60 crore as of 30 September 2021 to Rs 810.96 crore as of 30 September 2022. Inventories rose to Rs 632.09 crore as of 30 September 2022 from Rs 476.59 crore as of 30 September 2021. Sundry debtors were higher at Rs 374.40 crore as of 30 September 2022 compared to Rs 234.61 crore as of 30 September 2021. Cash and bank balance rose to Rs 47.84 crore as of 30 September 2022 from Rs 42.55 crore as of 30 September 2021. Investments rose to Rs 2.59 crore as of 30 September 2022 from Rs 2.39 crore as of 30 September 2021 .
PBDT rose 37.13% to Rs 291.23 crore. Provision for depreciation rose 8.58% to Rs 107.92 crore. Fixed assets increased to Rs 1,648.04 crore as of 30 September 2022 from Rs 1,530.57 crore as of 30 September 2021. Intangible assets declined from Rs 5.26 crore to Rs 3.73 crore.
Profit before tax grew 62.25% to Rs 183.31 crore. Share of profit/loss was 15.38% higher at Rs 0.15 crore. Provision for tax was expense of Rs 64.34 crore, compared to Rs 39.08 crore. Effective tax rate was 35.07% compared to 34.55%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 60.91% to Rs 119.12 crore.
Equity capital stood at Rs 10.56 crore as of 30 September 2022 to Rs 10.56 crore as of 30 September 2021. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 58.77% as of 30 September 2022 ,compared to 59.76% as of 30 September 2021 .
Cash flow from operating activities increased to Rs 233.15 crore for YTD ended September 2022 from Rs 146.43 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 175.83 crore, compared to Rs 119.02 crore during the YTD ended September 2021.
Full year results analysis.
Net sales (including other operating income) of Craftsman Automation has increased 42.12% to Rs 2217.02 crore. Sales of Automotive-Powertrain & Other segment has gone up 42.29% to Rs 1,154.35 crore (accounting for 52.07% of total sales). Sales of Automotive-Aluminium Products segment has gone up 67.40% to Rs 552.01 crore (accounting for 24.90% of total sales). Sales of Industrial & Engineering segment rose 21.90% to Rs 510.66 crore (accounting for 23.03% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 26.37% to Rs 382.51 crore. PBIT of Automotive-Powertrain & Other segment rose 37.66% to Rs 303.74 crore (accounting for 79.41% of total PBIT). PBIT of Automotive-Aluminium Products segment rose 1,519.37% to Rs 40.97 crore (accounting for 10.71% of total PBIT). PBIT of Industrial & Engineering segment fell 52.46% to Rs 37.80 crore (accounting for 9.88% of total PBIT).
PBIT margin of Automotive-Powertrain & Other segment fell from 27.20% to 26.31%. PBIT margin of Automotive-Aluminium Products segment rose from 0.77% to 7.42%. PBIT margin of Industrial & Engineering segment fell from 18.98% to 7.40%. Overall PBIT margin fell from 19.40% to 17.25%.
Operating profit margin has declined from 28.09% to 24.09%, leading to 21.89% rise in operating profit to Rs 534.16 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 42.96% to 47.39%. Employee cost decreased from 9.23% to 8.35%. Other expenses rose from 19.83% to 20.51%. Other income fell 26.59% to Rs 7.4 crore. PBIDT rose 20.80% to Rs 541.56 crore. Provision for interest fell 21.50% to Rs 84.22 crore. Loan funds rose to Rs 799.55 crore as of 31 March 2022 from Rs 678.36 crore as of 31 March 2021. Inventories rose to Rs 626.41 crore as of 31 March 2022 from Rs 405.64 crore as of 31 March 2021. Sundry debtors were higher at Rs 296.21 crore as of 31 March 2022 compared to Rs 238.95 crore as of 31 March 2021. Cash and bank balance declined from Rs 46.66 crore as of 31 March 2021 to Rs 43.48 crore as of 31 March 2022. Investments rose to Rs 2.65 crore as of 31 March 2022 from Rs 2.25 crore as of 31 March 2021 .
PBDT rose 34.10% to Rs 457.34 crore. Provision for depreciation rose 7.04% to Rs 205.99 crore. Fixed assets increased to Rs 1,581.52 crore as of 31 March 2022 from Rs 1,535.69 crore as of 31 March 2021. Intangible assets declined from Rs 6.78 crore to Rs 4.24 crore.
Profit before tax grew 69.16% to Rs 251.35 crore. Share of profit/loss was 123.53% higher at Rs 0.38 crore. Provision for tax was expense of Rs 88.64 crore, compared to Rs 51.4 crore. Effective tax rate was 35.21% compared to 34.55%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 67.51% to Rs 163.09 crore.
Equity capital stood at Rs 10.56 crore as of 31 March 2022 to Rs 10.56 crore as of 31 March 2021. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 59.76% as of 31 March 2022 ,compared to 59.76% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 327.21 crore for year ended March 2022 from Rs 362.38 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 212.89 crore, compared to Rs 99.28 crore during the year ended March 2021.
| Craftsman Automation : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 776.24 | 571.01 | 35.94 | 1,453.20 | 1,006.20 | 44.42 | 2,217.02 | 1,559.95 | 42.12 | | OPM (%) | 22.18 | 25.15 | -297 bps | 23.18 | 24.98 | -180 bps | 24.09 | 28.09 | -400 bps | | OP | 172.19 | 143.60 | 19.91 | 336.87 | 251.34 | 34.03 | 534.16 | 438.24 | 21.89 | | Other Inc. | 1.74 | 0.64 | 171.88 | 3.05 | 1.28 | 138.28 | 7.40 | 10.08 | -26.59 | | PBIDT | 173.93 | 144.24 | 20.58 | 339.92 | 252.62 | 34.56 | 541.56 | 448.32 | 20.80 | | Interest | 23.28 | 17.76 | 31.08 | 48.69 | 40.25 | 20.97 | 84.22 | 107.28 | -21.50 | | PBDT | 150.65 | 126.48 | 19.11 | 291.23 | 212.37 | 37.13 | 457.34 | 341.04 | 34.10 | | Depreciation | 54.69 | 50.02 | 9.34 | 107.92 | 99.39 | 8.58 | 205.99 | 192.45 | 7.04 | | PBT | 95.96 | 76.46 | 25.50 | 183.31 | 112.98 | 62.25 | 251.35 | 148.59 | 69.16 | | Share of Profit/(Loss) from Associates | 0.1 | 0.08 | 25.00 | 0.15 | 0.13 | 15.38 | 0.38 | 0.17 | 123.53 | | PBT before EO | 96.06 | 76.54 | 25.50 | 183.46 | 113.11 | 62.20 | 251.73 | 148.76 | 69.22 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 96.06 | 76.54 | 25.50 | 183.46 | 113.11 | 62.20 | 251.73 | 148.76 | 69.22 | | Taxation | 33.58 | 26.58 | 26.34 | 64.34 | 39.08 | 64.64 | 88.64 | 51.4 | 72.45 | | PAT | 62.48 | 49.96 | 25.06 | 119.12 | 74.03 | 60.91 | 163.09 | 97.36 | 67.51 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 62.48 | 49.96 | 25.06 | 119.12 | 74.03 | 60.91 | 163.09 | 97.36 | 67.51 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 62.48 | 49.96 | 25.06 | 119.12 | 74.03 | 60.91 | 163.09 | 97.36 | 67.51 | | EPS (Rs)* | 29.57 | 23.65 | 25.06 | 56.38 | 35.04 | 60.91 | 77.19 | 46.08 | 67.51 | | | * EPS is on current equity of Rs 10.56 crore, Face value of Rs 5, 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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| Craftsman Automation : Consolidated Segment Results |
td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Automotive-Powertrain & Other | 48.72 | 378.18 | 292.13 | 29.46 | 49.96 | 725.97 | 524.45 | 38.43 | 52.07 | 1,154.35 | 811.27 | 42.29 | | Automotive-Aluminium Products | 25.29 | 196.34 | 140.72 | 39.53 | 25.30 | 367.73 | 242.05 | 51.92 | 24.90 | 552.01 | 329.75 | 67.40 | | Industrial & Engineering | 25.99 | 201.72 | 138.16 | 46.00 | 24.74 | 359.50 | 239.70 | 49.98 | 23.03 | 510.66 | 418.93 | 21.90 | | Total Reported Sales | 100.00 | 776.24 | 571.01 | 35.94 | 100.00 | 1,453.20 | 1,006.20 | 44.42 | 100.00 | 2,217.02 | 1,559.95 | 42.12 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 776.24 | 571.01 | 35.94 | 100.00 | 1,453.20 | 1,006.20 | 44.42 | 100.00 | 2,217.02 | 1,559.95 | 42.12 | | PBIT | | Automotive-Powertrain & Other | 69.52 | 92.89 | 86.03 | 7.97 | 71.96 | 188.27 | 148.46 | 26.82 | 79.41 | 303.74 | 220.64 | 37.66 | | Automotive-Aluminium Products | 11.11 | 14.85 | 14.71 | 0.95 | 13.47 | 35.25 | 19.35 | 82.17 | 10.71 | 40.97 | 2.53 | 1,519.37 | | Industrial & Engineering | 19.36 | 25.87 | 5.07 | 410.26 | 14.57 | 38.11 | 8.66 | 340.07 | 9.88 | 37.80 | 79.52 | -52.46 | | Total PBIT | 100.00 | 133.61 | 105.81 | 26.27 | 100.00 | 261.63 | 176.47 | 48.26 | 100.00 | 382.51 | 302.69 | 26.37 | | Less : Interest | | 23.28 | 17.75 | 31.15 | | 48.69 | 40.24 | 21.00 | | 84.22 | 107.28 | -21.50 | | Add: Other un-allcoable | | -14.27 | -11.52 | -23.87 | | -29.48 | -23.12 | -27.51 | | -46.56 | -46.65 | 0.19 | | PBIT Margin(%) | | Automotive-Powertrain & Other | | 24.56 | 29.45 | -488.68 | | 25.93 | 28.31 | -237.42 | | 26.31 | 27.20 | -88.42 | | Automotive-Aluminium Products | | 7.56 | 10.45 | -289.00 | | 9.59 | 7.99 | 159.16 | | 7.42 | 0.77 | 665.47 | | Industrial & Engineering | | 12.82 | 3.67 | 915.50 | | 10.60 | 3.61 | 698.80 | | 7.40 | 18.98 | -1,157.95 | | PBT | 100.00 | 96.06 | 76.54 | 25.50 | 100.00 | 183.46 | 113.11 | 62.20 | 100.00 | 251.73 | 148.76 | 69.22 |
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