For
the quarter ended sept 2022, consolidated Net sales (including other operating income) of Endurance Technologies has increased 25.06% to Rs 2360.63 crore compared to quarter ended sept 2021. Operating profit margin has declined from 13.77% to 11.51%, leading to 4.47% rise in operating profit to Rs 271.60 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 58.41% to 61.36%. Purchase of finished goods cost rose from 0.51% to 0.99%. Employee cost decreased from 8.66% to 7.37%. Other expenses rose from 18.75% to 18.79%. Other income rose 2.80% to Rs 8.43 crore. PBIDT rose 4.41% to Rs 280.03 crore. Provision for interest rose 239.44% to Rs 6.11 crore. Loan funds rose to Rs 651.41 crore as of 30 September 2022 from Rs 551.04 crore as of 30 September 2021. Inventories rose to Rs 832.95 crore as of 30 September 2022 from Rs 719.74 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,166.05 crore as of 30 September 2022 compared to Rs 941.79 crore as of 30 September 2021. Cash and bank balance rose to Rs 445.33 crore as of 30 September 2022 from Rs 320.05 crore as of 30 September 2021. Investments declined from Rs 584.64 crore as of 30 September 2021 to Rs 491.06 crore as of 30 September 2022.
PBDT rose 2.83% to Rs 273.92 crore. Provision for depreciation rose 5.62% to Rs 99.27 crore. Fixed assets increased to Rs 2,695.49 crore as of 30 September 2022 from Rs 2,469.17 crore as of 30 September 2021. Intangible assets increased from Rs 247.76 crore to Rs 368.72 crore.
Profit before tax grew 1.31% to Rs 174.65 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 43.16 crore, compared to Rs 39.07 crore. Effective tax rate was 24.71% compared to 22.66%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 1.38% to Rs 131.49 crore. Equity capital stood at Rs 140.66 crore as of 30 September 2022 to Rs 140.66 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 30 September 2022 ,compared to 75.00% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Endurance Technologies has increased 24.94% to Rs 4474.46 crore.
Operating profit margin has declined from 14.08% to 11.43%, leading to 1.40% rise in operating profit to Rs 511.35 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 56.11% to 60.76%. Purchase of finished goods cost rose from 1.16% to 1.33%. Employee cost decreased from 9.81% to 7.93%. Other expenses fell from 19.15% to 18.75%. Other income fell 37.24% to Rs 13.11 crore. PBIDT fell 0.14% to Rs 524.46 crore. Provision for interest rose 146.01% to Rs 8.02 crore. Loan funds rose to Rs 651.41 crore as of 30 September 2022 from Rs 551.04 crore as of 30 September 2021. Inventories rose to Rs 832.95 crore as of 30 September 2022 from Rs 719.74 crore as of 30 September 2021. Sundry debtors were higher at Rs 1,166.05 crore as of 30 September 2022 compared to Rs 941.79 crore as of 30 September 2021. Cash and bank balance rose to Rs 445.33 crore as of 30 September 2022 from Rs 320.05 crore as of 30 September 2021. Investments declined from Rs 584.64 crore as of 30 September 2021 to Rs 491.06 crore as of 30 September 2022.
PBDT fell 1.05% to Rs 516.44 crore. Provision for depreciation rose 3.20% to Rs 198.41 crore. Fixed assets increased to Rs 2,695.49 crore as of 30 September 2022 from Rs 2,469.17 crore as of 30 September 2021. Intangible assets increased from Rs 247.76 crore to Rs 368.72 crore.
Profit before tax down 3.53% to Rs 318.03 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs -10.29 crore. Provision for tax was expense of Rs 72.86 crore, compared to Rs 68.34 crore. Effective tax rate was 23.68% compared to 22.92%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 2.17% to Rs 234.88 crore.
Equity capital stood at Rs 140.66 crore as of 30 September 2022 to Rs 140.66 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 30 September 2022 ,compared to 75.00% as of 30 September 2021 .
Cash flow from operating activities decreased to Rs 243.06 crore for YTD ended September 2022 from Rs 383.69 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 243.09 crore, compared to Rs 268.23 crore during the YTD ended September 2021.
Full year results analysis.
Net sales (including other operating income) of Endurance Technologies has increased 15.31% to Rs 7549.14 crore. Operating profit margin has declined from 15.89% to 12.78%, leading to 7.27% decline in operating profit to Rs 964.64 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 53.29% to 57.93%. Purchase of finished goods cost fell from 1.37% to 1.13%. Employee cost decreased from 10.30% to 9.08%. Other expenses rose from 19.20% to 19.23%. Other income rose 33.64% to Rs 41.04 crore. PBIDT fell 6.09% to Rs 1005.68 crore. Provision for interest fell 53.85% to Rs 6.35 crore. Loan funds declined from Rs 641.10 crore as of 31 March 2021 to Rs 429.61 crore as of 31 March 2022. Inventories rose to Rs 701.14 crore as of 31 March 2022 from Rs 611.85 crore as of 31 March 2021. Sundry debtors were lower at Rs 970.37 crore as of 31 March 2022 compared to Rs 1,040.98 crore as of 31 March 2021. Cash and bank balance declined from Rs 513.33 crore as of 31 March 2021 to Rs 402.64 crore as of 31 March 2022. Investments rose to Rs 486.78 crore as of 31 March 2022 from Rs 444.33 crore as of 31 March 2021 .
PBDT fell 5.47% to Rs 999.33 crore. Provision for depreciation fell 4.36% to Rs 381.73 crore. Fixed assets increased to Rs 2,658.32 crore as of 31 March 2022 from Rs 2,524.74 crore as of 31 March 2021. Intangible assets increased from Rs 173.98 crore to Rs 175.68 crore.
Profit before tax down 6.14% to Rs 617.60 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs -31.45 crore. Provision for tax was expense of Rs 125.44 crore, compared to Rs 127.23 crore. Effective tax rate was 21.40% compared to 19.67%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 11.35% to Rs 460.71 crore.
Equity capital stood at Rs 140.66 crore as of 31 March 2022 to Rs 140.66 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 741.55 crore for year ended March 2022 from Rs 621.48 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 529.03 crore, compared to Rs 375.07 crore during the year ended March 2021.
Other Highlights
In
Q2 FY23, Aftermarket sales from Indian operations stood
at Rs 200.7 crore compared to Rs 172.7 crore in the corresponding period of
last year, despite key export markets facing economic challenges.