For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Sona BLW Precision Forgings has increased 38.61% to Rs 684.96 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 26.42% to 27.18%, leading to 42.61% rise in operating profit to Rs 186.16 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 44.46% to 42.69%. Employee cost decreased from 8.25% to 7.16%. Other expenses rose from 21.76% to 22.21%. Other income fell 35.32% to Rs 3.26 crore. PBIDT rose 39.71% to Rs 189.42 crore. Provision for interest rose 53.61% to Rs 5.1 crore.
PBDT rose 39.36% to Rs 184.32 crore. Provision for depreciation rose 31.67% to Rs 46.98 crore.
Profit before tax grew 42.20% to Rs 137.34 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 30.24 crore, compared to Rs 10.14 crore. Effective tax rate was 22.02% compared to 10.50%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 23.90% to Rs 107.10 crore. Promoters’ stake was 53.53% as of 31 December 2022 ,compared to 67.18% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 22.20% to Rs 1931.58 crore.
Operating profit margin has declined from 26.81% to 25.60%, leading to 16.68% rise in operating profit to Rs 494.39 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.48% to 45.00%. Employee cost decreased from 7.97% to 7.05%. Other expenses rose from 20.36% to 22.09%. Other income rose 24.69% to Rs 7.12 crore. PBIDT rose 16.78% to Rs 501.51 crore. Provision for interest fell 16.77% to Rs 12.31 crore.
PBDT rose 17.98% to Rs 489.2 crore. Provision for depreciation rose 24.19% to Rs 129.91 crore.
Profit before tax grew 15.89% to Rs 359.29 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 83.8 crore, compared to Rs 66.43 crore. Effective tax rate was 23.32% compared to 20.55%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 7.24% to Rs 275.49 crore.
Promoters’ stake was 53.53% as of 31 December 2022 ,compared to 67.18% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 36.03% to Rs 2130.64 crore. Operating profit margin has declined from 28.16% to 26.24%, leading to 26.77% rise in operating profit to Rs 559.10 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.51% to 45.50%. Employee cost decreased from 9.04% to 7.77%. Other expenses rose from 20.39% to 21.02%. Other income rose 755.98% to Rs 20.03 crore. PBIDT rose 30.62% to Rs 579.13 crore. Provision for interest fell 43.85% to Rs 18.26 crore. Loan funds declined from Rs 447.20 crore as of 31 March 2021 to Rs 151.15 crore as of 31 March 2022. Inventories rose to Rs 363.38 crore as of 31 March 2022 from Rs 305.56 crore as of 31 March 2021. Sundry debtors were higher at Rs 445.19 crore as of 31 March 2022 compared to Rs 416.99 crore as of 31 March 2021. Cash and bank balance rose to Rs 77.25 crore as of 31 March 2022 from Rs 27.58 crore as of 31 March 2021.
PBDT rose 36.51% to Rs 560.87 crore. Provision for depreciation rose 46.45% to Rs 141.97 crore. Fixed assets increased to Rs 1,355.70 crore as of 31 March 2022 from Rs 1,124.00 crore as of 31 March 2021. Intangible assets stood at Rs 175.81 crore.
Profit before tax grew 33.45% to Rs 418.90 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 70.63 crore, compared to Rs 84.83 crore. Effective tax rate was 16.34% compared to 28.28%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 68.03% to Rs 361.54 crore.
Equity capital increased from Rs 572.98 crore as of 31 March 2021 to Rs 584.35 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 67.18% as of 31 March 2022
Cash flow from operating activities increased to Rs 444.58 crore for year ended March 2022 from Rs 142.73 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 347.21 crore, compared to Rs 218.94 crore during the year ended March 2021.
Other Highlights
The Board of Directors approved and declared
an interim dividend of Rs 1.28 per equity share of the Company having face
value of Rs 10 each for the financial year 2022-23. Board has fixed Monday, 6th
February, 2023, as the "Record Date" for the purpose of ascertaining
the entitlement of shareholders for the payment of interim dividend.
During the quarter, company won four new
BEV programs. Net order book increased 16% QoQ to Rs 23,800 crore.