For
the quarter ending sept 2022, standalone net sales (including other operating income) of Automotive Axles has increased 53.66% to Rs 474.72 crore compared to quarter ended sept 2021. Operating profit margin has jumped from 7.17% to 10.63%, leading to 127.87% rise in operating profit to Rs 50.45 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 71.10% to 72.16%. Employee cost decreased from 8.73% to 6.04%. Other expenses fell from 12.70% to 11.52%. Other income up 13.33% to Rs 1.19 crore. PBIDT rose 122.68% to Rs 51.64 crore. Provision for interest up 19.05% to Rs 0.75 crore. Loan funds rose to Rs 30.83 crore as of 30 September 2022 from Rs 26.40 crore as of 30 September 2021. Inventories rose to Rs 221.35 crore as of 30 September 2022 from Rs 192.94 crore as of 30 September 2021. Sundry debtors were higher at Rs 368.64 crore as of 30 September 2022 compared to Rs 189.11 crore as of 30 September 2021. Cash and bank balance rose to Rs 86.90 crore as of 30 September 2022 from Rs 61.47 crore as of 30 September 2021.
PBDT rose 125.58% to Rs 50.89 crore. Provision for depreciation rose 19.95% to Rs 10.34 crore. Fixed assets declined from Rs 275.96 crore as of 30 September 2021 to Rs 257.43 crore as of 30 September 2022. Intangible assets increased from Rs 0.38 crore to Rs 1.24 crore.
Profit before tax grew 190.89% to Rs 40.55 crore. Provision for tax was expense of Rs 10.42 crore, compared to Rs 3.8 crore. Effective tax rate was 25.70% compared to 27.26%.
Profit after tax rose 197.14% to Rs 30.13 crore.
Equity capital stood at Rs 15.11 crore as of 30 September 2022 to Rs 15.11 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 71.04% as of 30 September 2022 ,compared to 71.04% as of 30 September 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Automotive Axles has increased 72.87% to Rs 974.91 crore.
Operating profit margin has jumped from 6.69% to 10.46%, leading to 170.41% rise in operating profit to Rs 101.97 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 71.12% to 71.70%. Employee cost decreased from 9.16% to 6.15%. Other expenses fell from 13.00% to 11.83%. Other income up 6.54% to Rs 2.28 crore. PBIDT rose 161.61% to Rs 104.25 crore. Provision for interest up 14.62% to Rs 1.49 crore. Loan funds rose to Rs 30.83 crore as of 30 September 2022 from Rs 26.40 crore as of 30 September 2021. Inventories rose to Rs 221.35 crore as of 30 September 2022 from Rs 192.94 crore as of 30 September 2021. Sundry debtors were higher at Rs 368.64 crore as of 30 September 2022 compared to Rs 189.11 crore as of 30 September 2021. Cash and bank balance rose to Rs 86.90 crore as of 30 September 2022 from Rs 61.47 crore as of 30 September 2021.
PBDT rose 166.56% to Rs 102.76 crore. Provision for depreciation rose 22.57% to Rs 20.64 crore. Fixed assets declined from Rs 275.96 crore as of 30 September 2021 to Rs 257.43 crore as of 30 September 2022. Intangible assets increased from Rs 0.38 crore to Rs 1.24 crore. Profit before tax grew 278.26% to Rs 82.12 crore. Provision for tax was expense of Rs 21.59 crore, compared to Rs 6 crore. Effective tax rate was 26.29% compared to 27.64%.Profit after tax rose 285.30% to Rs 60.53 crore. Equity capital stood at Rs 15.11 crore as of 30 September 2022 to Rs 15.11 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 71.04% as of 30 September 2022 ,compared to 71.04% as of 30 September 2021 .
Full year results analysis
Net sales (including other operating income) of Automotive Axles has increased 64.61% to Rs 1,490.62 crore. Operating profit margin has jumped from 7.27% to 9.04%, leading to 104.56% rise in operating profit to Rs 134.68 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 70.66% to 71.44%. Employee cost decreased from 9.43% to 7.62%. Other expenses fell from 12.92% to 11.96%. Other income fell 39.75% to Rs 4.26 crore. PBIDT rose 90.56% to Rs 138.94 crore. Provision for interest fell 16.84% to Rs 2.47 crore. Loan funds declined from Rs 29.49 crore as of 31 March 2021 to Rs 23.45 crore as of 31 March 2022. Inventories declined from Rs 200.57 crore as of 31 March 2021 to Rs 199.23 crore as of 31 March 2022. Sundry debtors were higher at Rs 389.42 crore as of 31 March 2022 compared to Rs 282.00 crore as of 31 March 2021. Cash and bank balance rose to Rs 80.51 crore as of 31 March 2022 from Rs 72.88 crore as of 31 March 2021. Investments rose to Rs 16.66 crore as of 31 March 2022 from Rs 12.06 crore as of 31 March 2021 .
PBDT rose 95.12% to Rs 136.47 crore. Provision for depreciation rose 1.17% to Rs 36.42 crore. Fixed assets declined from Rs 277.19 crore as of 31 March 2021 to Rs 260.51 crore as of 31 March 2022. Intangible assets increased from Rs 0.44 crore to Rs 1.49 crore.
Profit before tax grew 194.78% to Rs 100.05 crore. Provision for tax was expense of Rs 25.69 crore, compared to Rs 7.44 crore. Effective tax rate was 25.68% compared to 24.66%.
Profit after tax rose 227.14% to Rs 74.36 crore.
Equity capital stood at Rs 15.11 crore as of 30 September 2022 to Rs 15.11 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 71.04% as of 31 March 2022 ,compared to 71.04% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 43.29 crore for year ended March 2022 from Rs 48.69 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 21.88 crore, compared to Rs 34.77 crore during the year ended March 2021.
| Automotive Axles : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 474.72 | 308.94 | 53.66 | 974.91 | 563.94 | 72.87 | 1,490.62 | 905.57 | 64.61 | | OPM (%) | 10.63 | 7.17 | 346 bps | 10.46 | 6.69 | 377 bps | 9.04 | 7.27 | 176 bps | | OP | 50.45 | 22.14 | 127.87 | 101.97 | 37.71 | 170.41 | 134.68 | 65.84 | 104.56 | | Other Inc. | 1.19 | 1.05 | 13.33 | 2.28 | 2.14 | 6.54 | 4.26 | 7.07 | -39.75 | | PBIDT | 51.64 | 23.19 | 122.68 | 104.25 | 39.85 | 161.61 | 138.94 | 72.91 | 90.56 | | Interest | 0.75 | 0.63 | 19.05 | 1.49 | 1.3 | 14.62 | 2.47 | 2.97 | -16.84 | | PBDT | 50.89 | 22.56 | 125.58 | 102.76 | 38.55 | 166.56 | 136.47 | 69.94 | 95.12 | | Depreciation | 10.34 | 8.62 | 19.95 | 20.64 | 16.84 | 22.57 | 36.42 | 36 | 1.17 | | PBT | 40.55 | 13.94 | 190.89 | 82.12 | 21.71 | 278.26 | 100.05 | 33.94 | 194.78 | | PBT before EO | 40.55 | 13.94 | 190.89 | 82.12 | 21.71 | 278.26 | 100.05 | 33.94 | 194.78 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | -3.77 | - | | PBT after EO | 40.55 | 13.94 | 190.89 | 82.12 | 21.71 | 278.26 | 100.05 | 30.17 | 231.62 | | Taxation | 10.42 | 3.8 | 174.21 | 21.59 | 6 | 259.83 | 25.69 | 7.44 | 245.30 | | PAT | 30.13 | 10.14 | 197.14 | 60.53 | 15.71 | 285.30 | 74.36 | 22.73 | 227.14 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 30.13 | 10.14 | 197.14 | 60.53 | 15.71 | 285.30 | 74.36 | 22.73 | 227.14 | | EPS (Rs)* | 19.94 | 6.71 | 197.14 | 40.06 | 10.40 | 285.30 | 49.21 | 16.92 | 190.81 | | | * EPS is on current equity of Rs 15.11 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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