Capitaline

Sales of Communications and signal Processing products segment has gone up 11.10% to Rs 52.46 crore (accounting for 99.70% of total sales). Sales of Health care segment has gone up 1,089.31% to Rs 0.16 crore (accounting for 0.30% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 90.75% to Rs 15.19 crore. PBIT of Communications and signal Processing products segment rose 82.71% to Rs 16.16 crore (accounting for 106.40% of total PBIT). PBIT of Health care segment fell 10.16% to Rs -0.97 crore (accounting for -6.40% of total PBIT).
PBIT margin of Communications and signal Processing products segment rose from 18.73% to 30.80%. PBIT margin of Health care segment rose from negative 6,741.22% to negative 624.39%. Overall PBIT margin rose from 16.86% to 28.86%.

Full year results analysis.

Net sales (including other operating income) of Avantel has increased 47.17% to Rs 154.45 crore. Operating profit margin has jumped from 25.38% to 30.31%, leading to 75.75% rise in operating profit to Rs 46.82 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 46.71% to 45.76%. Employee cost decreased from 12.18% to 10.56%. Other expenses fell from 16.66% to 15.86%. Other income fell 64.96% to Rs 0.48 crore. PBIDT rose 68.87% to Rs 47.3 crore. Provision for interest rose 221.85% to Rs 4.86 crore. PBDT rose 60.15% to Rs 42.44 crore. Provision for depreciation rose 43.18% to Rs 5.77 crore. Profit before tax grew 63.20% to Rs 36.67 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.83 crore, compared to Rs 4.49 crore. Effective tax rate was 26.81% compared to 19.98%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 49.28% to Rs 26.84 crore.

Sales of Communications and signal Processing products segment has gone up 45.56% to Rs 154.74 crore (accounting for 99.88% of total sales). Sales of Health care segment has gone up 1,336.64% to Rs 0.19 crore (accounting for 0.12% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 63.20% to Rs 36.67 crore. PBIT of Communications and signal Processing products segment rose 68.89% to Rs 39.93 crore (accounting for 108.89% of total PBIT). PBIT of Health care segment fell 177.94% to Rs -3.26 crore (accounting for -8.89% of total PBIT).
PBIT margin of Communications and signal Processing products segment rose from 22.24% to 25.80%. PBIT margin of Health care segment rose from negative 8,957.25% to negative 1,732.89%. Overall PBIT margin rose from 21.13% to 23.67%.

Equity capital increased from Rs 4.06 crore as of 31 March 2022 to Rs 16.22 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.

Loan funds rose to Rs 30.34 crore as of 31 March 2023 from Rs 15.65 crore as of 31 March 2022. Inventories rose to Rs 44.60 crore as of 31 March 2023 from Rs 16.77 crore as of 31 March 2022. Sundry debtors were higher at Rs 39.84 crore as of 31 March 2023 compared to Rs 36.16 crore as of 31 March 2022. Cash and bank balance declined from Rs 1.33 crore as of 31 March 2022 to Rs 1.25 crore as of 31 March 2023. Fixed assets increased to Rs 39.81 crore as of 31 March 2023 from Rs 33.68 crore as of 31 March 2022.

Cash flow from operating activities has turned positive Rs 1.67 crore for year ended March 2023 from negative Rs 32.32 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 10.25 crore, compared to Rs 14.67 crore during the year ended March 2022.

Promoters’ stake was 40.14% as of 31 March 2023 ,compared to 40.14% as of 31 March 2022 .

Quarter ended

Year ended

Particulars

202303

202203

Var.(%)

202303

202203

Var.(%)

Net Sales (including other operating income)

52.53

46.71

12.46

154.45

104.95

47.17

OPM (%)

34.53

19.35

1,518 bps

30.31

25.38

493 bps

18.14

9.04

100.66

46.82

26.64

75.75

Other Inc.

0.09

0.53

-83.02

0.48

1.37

-64.96

PBIDT

18.23

9.57

90.49

47.30

28.01

68.87

Interest

1.51

0.44

243.18

4.86

1.51

221.85

PBDT

16.72

9.13

83.13

42.44

26.50

60.15

Depreciation

1.53

1.16

31.90

5.77

4.03

43.18

PBT

15.19

7.97

90.59

36.67

22.47

63.20

Share of Profit/(Loss) from Associates

PBT before EO

15.19

7.97

90.59

36.67

22.47

63.20

EO Income

PBT after EO

15.19

7.97

90.59

36.67

22.47

63.20

Taxation

5.5

1.89

191.01

9.83

4.49

118.93

PAT

9.69

6.08

59.37

26.84

17.98

49.28

Minority Interest (MI)

Net profit

9.69

6.08

59.37

26.84

17.98

49.28

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

9.69

6.08

59.37

26.84

17.98

49.28

EPS (Rs)*

5.97

3.75

59.37

16.55

11.09

49.28

* EPS is on current equity of Rs 16.22 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

Quarter ended

Year ended

% of (Total)

202303

202203

Var.(%)

% of (Total)

202303

202203

Var.(%)

Sales

Communications and signal Processing products

99.70

52.46

47.22

11.10

99.88

154.74

106.31

45.56

Health care

0.30

0.16

0.01

1,089.31

0.12

0.19

0.01

1,336.64

Total Reported Sales

100.00

52.62

47.23

11.40

100.00

154.93

106.32

45.71

Less: Inter segment revenues

0.00

Net Sales

100.00

52.62

47.23

11.40

100.00

154.93

106.32

45.71

PBIT

Communications and signal Processing products

106.40

16.16

8.85

82.71

108.89

39.93

23.64

68.89

Health care

-6.40

-0.97

-0.88

-10.16

-8.89

-3.26

-1.17

-177.94

Total PBIT

100.00

15.19

7.96

90.75

100.00

36.67

22.47

63.20

Less : Interest

0.00

Add: Other un-allcoable

0.00

PBIT Margin(%)

Communications and signal Processing products

30.80

18.73

1,207.21

25.80

22.24

356.58

Health care

-624.39

-6,741.22

6,11,683.11

-1,732.89

-8,957.25

7,22,436.14

PBT

100.00

15.19

7.96

90.75

100.00

36.67

22.47

63.20