For the
quarter ending Dec 2022, consolidated Net sales (including other operating income) of Craftsman Automation has increased 35.17% to Rs 749.03 crore compared to quarter ended Dec 2021. Sales of Automotive-Powertrain & Other segment has gone up 39.71% to Rs 408.44 crore (accounting for 54.53% of total sales). Sales of Automotive-Aluminium Products segment has gone up 22.63% to Rs 175.85 crore (accounting for 23.48% of total sales). Sales of Industrial & Engineering segment rose 39.14% to Rs 164.74 crore (accounting for 21.99% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 32.73% to Rs 117.40 crore. PBIT of Automotive-Powertrain & Other segment rose 46.26% to Rs 101.02 crore (accounting for 86.05% of total PBIT). PBIT of Automotive-Aluminium Products segment rose 28.07% to Rs 6.89 crore (accounting for 5.87% of total PBIT). PBIT of Industrial & Engineering segment fell 32.21% to Rs 9.49 crore (accounting for 8.08% of total PBIT).
PBIT margin of Automotive-Powertrain & Other segment rose from 23.63% to 24.73%. PBIT margin of Automotive-Aluminium Products segment rose from 3.75% to 3.92%. PBIT margin of Industrial & Engineering segment fell from 11.82% to 5.76%. Overall PBIT margin fell from 15.96% to 15.67%.
Operating profit margin has declined from 23.06% to 21.13%, leading to 23.86% rise in operating profit to Rs 158.30 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 47.76% to 51.91%. Employee cost decreased from 9.30% to 7.55%. Other expenses fell from 20.71% to 20.03%. Other income rose 143.92% to Rs 4.61 crore. PBIDT rose 25.61% to Rs 162.91 crore. Provision for interest rose 46.76% to Rs 29.63 crore.
PBDT rose 21.71% to Rs 133.28 crore. Provision for depreciation rose 3.17% to Rs 53.76 crore.
Profit before tax grew 38.54% to Rs 79.52 crore. Share of profit/loss was 61.54% higher at Rs 0.21 crore. Provision for tax was expense of Rs 28.12 crore, compared to Rs 19.93 crore. Effective tax rate was 35.27% compared to 34.64%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 37.26% to Rs 51.61 crore. Promoters’ stake was 58.77% as of 31 December 2022 ,compared to 59.76% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Craftsman Automation has increased 41.14% to Rs 2202.23 crore. Sales of Automotive-Powertrain & Other segment has gone up 38.88% to Rs 1,134.41 crore (accounting for 51.51% of total sales). Sales of Automotive-Aluminium Products segment has gone up 41.02% to Rs 543.58 crore (accounting for 24.68% of total sales). Sales of Industrial & Engineering segment rose 46.39% to Rs 524.24 crore (accounting for 23.80% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 43.07% to Rs 379.03 crore. PBIT of Automotive-Powertrain & Other segment rose 32.99% to Rs 289.29 crore (accounting for 76.32% of total PBIT). PBIT of Automotive-Aluminium Products segment rose 415.16% to Rs 42.14 crore (accounting for 11.12% of total PBIT). PBIT of Industrial & Engineering segment rose 21.40% to Rs 47.60 crore (accounting for 12.56% of total PBIT).
PBIT margin of Automotive-Powertrain & Other segment fell from 26.63% to 25.50%. PBIT margin of Automotive-Aluminium Products segment rose from 2.12% to 7.75%. PBIT margin of Industrial & Engineering segment fell from 10.95% to 9.08%. Overall PBIT margin rose from 16.98% to 17.21%.
Operating profit margin has declined from 24.30% to 22.48%, leading to 30.60% rise in operating profit to Rs 495.17 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 46.56% to 50.70%. Employee cost decreased from 8.91% to 7.71%. Other expenses fell from 20.68% to 19.49%. Other income rose 141.64% to Rs 7.66 crore. PBIDT rose 31.52% to Rs 502.83 crore. Provision for interest rose 29.58% to Rs 78.32 crore.
PBDT rose 31.88% to Rs 424.51 crore. Provision for depreciation rose 6.72% to Rs 161.68 crore.
Profit before tax grew 54.26% to Rs 262.83 crore. Share of profit/loss was 38.46% higher at Rs 0.36 crore. Provision for tax was expense of Rs 92.46 crore, compared to Rs 59.01 crore. Effective tax rate was 35.13% compared to 34.58%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 52.94% to Rs 170.73 crore.
Promoters’ stake was 58.77% as of 31 December 2022 ,compared to 59.76% as of 31 December 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 | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 749.03 | 554.15 | 35.17 | 2,202.23 | 1,560.35 | 41.14 | 2,217.02 | 1,559.95 | 42.12 | | OPM (%) | 21.13 | 23.06 | -193 bps | 22.48 | 24.30 | -181 bps | 24.09 | 28.09 | -400 bps | | OP | 158.30 | 127.81 | 23.86 | 495.17 | 379.15 | 30.60 | 534.16 | 438.24 | 21.89 | | Other Inc. | 4.61 | 1.89 | 143.92 | 7.66 | 3.17 | 141.64 | 7.40 | 10.08 | -26.59 | | PBIDT | 162.91 | 129.70 | 25.61 | 502.83 | 382.32 | 31.52 | 541.56 | 448.32 | 20.80 | | Interest | 29.63 | 20.19 | 46.76 | 78.32 | 60.44 | 29.58 | 84.22 | 107.28 | -21.50 | | PBDT | 133.28 | 109.51 | 21.71 | 424.51 | 321.88 | 31.88 | 457.34 | 341.04 | 34.10 | | Depreciation | 53.76 | 52.11 | 3.17 | 161.68 | 151.5 | 6.72 | 205.99 | 192.45 | 7.04 | | PBT | 79.52 | 57.40 | 38.54 | 262.83 | 170.38 | 54.26 | 251.35 | 148.59 | 69.16 | | Share of Profit/(Loss) from Associates | 0.21 | 0.13 | 61.54 | 0.36 | 0.26 | 38.46 | 0.38 | 0.17 | 123.53 | | PBT before EO | 79.73 | 57.53 | 38.59 | 263.19 | 170.64 | 54.24 | 251.73 | 148.76 | 69.22 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 79.73 | 57.53 | 38.59 | 263.19 | 170.64 | 54.24 | 251.73 | 148.76 | 69.22 | | Taxation | 28.12 | 19.93 | 41.09 | 92.46 | 59.01 | 56.69 | 88.64 | 51.4 | 72.45 | | PAT | 51.61 | 37.6 | 37.26 | 170.73 | 111.63 | 52.94 | 163.09 | 97.36 | 67.51 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 51.61 | 37.6 | 37.26 | 170.73 | 111.63 | 52.94 | 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 | 51.61 | 37.6 | 37.26 | 170.73 | 111.63 | 52.94 | 163.09 | 97.36 | 67.51 | | EPS (Rs)* | 24.43 | 17.80 | 37.26 | 80.81 | 52.83 | 52.94 | 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 |
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| % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202212 | 202112 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Automotive-Powertrain & Other | 54.53 | 408.44 | 292.35 | 39.71 | 51.51 | 1,134.41 | 816.80 | 38.88 | 52.07 | 1,154.35 | 811.27 | 42.29 | | Automotive-Aluminium Products | 23.48 | 175.85 | 143.40 | 22.63 | 24.68 | 543.58 | 385.45 | 41.02 | 24.90 | 552.01 | 329.75 | 67.40 | | Industrial & Engineering | 21.99 | 164.74 | 118.40 | 39.14 | 23.80 | 524.24 | 358.10 | 46.39 | 23.03 | 510.66 | 418.93 | 21.90 | | Total Reported Sales | 100.00 | 749.03 | 554.15 | 35.17 | 100.00 | 2,202.23 | 1,560.35 | 41.14 | 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 | 749.03 | 554.15 | 35.17 | 100.00 | 2,202.23 | 1,560.35 | 41.14 | 100.00 | 2,217.02 | 1,559.95 | 42.12 | | PBIT | | Automotive-Powertrain & Other | 86.05 | 101.02 | 69.07 | 46.26 | 76.32 | 289.29 | 217.53 | 32.99 | 79.41 | 303.74 | 220.64 | 37.66 | | Automotive-Aluminium Products | 5.87 | 6.89 | 5.38 | 28.07 | 11.12 | 42.14 | 8.18 | 415.16 | 10.71 | 40.97 | 2.53 | 1,519.37 | | Industrial & Engineering | 8.08 | 9.49 | 14.00 | -32.21 | 12.56 | 47.60 | 39.21 | 21.40 | 9.88 | 37.80 | 79.52 | -52.46 | | Total PBIT | 100.00 | 117.40 | 88.45 | 32.73 | 100.00 | 379.03 | 264.92 | 43.07 | 100.00 | 382.51 | 302.69 | 26.37 | | Less : Interest | | 29.63 | 20.19 | 46.76 | | 78.32 | 60.44 | 29.58 | | 84.22 | 107.28 | -21.50 | | Add: Other un-allcoable | | -8.04 | -10.72 | 25.00 | | -37.52 | -33.84 | -10.87 | | -46.56 | -46.65 | 0.19 | | PBIT Margin(%) | | Automotive-Powertrain & Other | | 24.73 | 23.63 | 110.73 | | 25.50 | 26.63 | -113.06 | | 26.31 | 27.20 | -88.42 | | Automotive-Aluminium Products | | 3.92 | 3.75 | 16.64 | | 7.75 | 2.12 | 563.01 | | 7.42 | 0.77 | 665.47 | | Industrial & Engineering | | 5.76 | 11.82 | -606.37 | | 9.08 | 10.95 | -186.96 | | 7.40 | 18.98 | -1,157.95 | | PBT | 100.00 | 79.73 | 57.54 | 38.56 | 100.00 | 263.19 | 170.64 | 54.24 | 100.00 | 251.73 | 148.76 | 69.22 |
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