For
the quarter ending March 2023, consolidated net sales (including other operating income) of Sona BLW Precision Forgings has increased 35.54% to Rs 742.59 crore compared to quarter ended Mar 2022. Operating profit margin has jumped from 24.32% to 26.93%, leading to 50.11% rise in operating profit to Rs 200.01 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.72% to 44.21%. Employee cost decreased from 7.20% to 6.31%. Other expenses fell from 23.04% to 21.78%. Other income fell 64.13% to Rs 5.9 crore. PBIDT rose 37.56% to Rs 205.91 crore. Provision for interest rose 33.14% to Rs 4.62 crore. Loan funds rose to Rs 295.19 crore as of 31 March 2023 from Rs 151.15 crore as of 31 March 2022. Inventories declined from Rs 363.38 crore as of 31 March 2022 to Rs 322.94 crore as of 31 March 2023. Sundry debtors were higher at Rs 608.85 crore as of 31 March 2023 compared to Rs 445.19 crore as of 31 March 2022. Cash and bank balance declined from Rs 77.25 crore as of 31 March 2022 to Rs 69.84 crore as of 31 March 2023. Investments rose to Rs 232.57 crore as of 31 March 2023 from Rs 6.53 crore as of 31 March 2022 .
PBDT rose 37.66% to Rs 201.29 crore. Provision for depreciation rose 28.78% to Rs 48.1 crore. Fixed assets increased to Rs 1,502.94 crore as of 31 March 2023 from Rs 1,355.70 crore as of 31 March 2022. Intangible assets stood at Rs 175.81 crore.
Profit before tax grew 40.71% to Rs 153.19 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 30.01 crore, compared to Rs 4.21 crore. Effective tax rate was 20.03% compared to 3.87%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 14.48% to Rs 119.81 crore. Equity capital increased from Rs 584.35 crore as of 31 March 2022 to Rs 585.41 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 33.00% as of 31 March 2023 ,compared to 67.18% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 25.85% to Rs 2655.01 crore. Operating profit margin has declined from 25.51% to 25.43%, leading to 25.48% rise in operating profit to Rs 675.24 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.94% to 45.11%. Employee cost decreased from 7.84% to 6.90%. Other expenses rose from 21.23% to 22.16%. Other income fell 21.52% to Rs 32.17 crore. PBIDT rose 22.15% to Rs 707.41 crore. Provision for interest fell 7.28% to Rs 16.93 crore. Loan funds rose to Rs 295.19 crore as of 31 March 2023 from Rs 151.15 crore as of 31 March 2022. Inventories declined from Rs 363.38 crore as of 31 March 2022 to Rs 322.94 crore as of 31 March 2023. Sundry debtors were higher at Rs 608.85 crore as of 31 March 2023 compared to Rs 445.19 crore as of 31 March 2022. Cash and bank balance declined from Rs 77.25 crore as of 31 March 2022 to Rs 69.84 crore as of 31 March 2023. Investments rose to Rs 232.57 crore as of 31 March 2023 from Rs 6.53 crore as of 31 March 2022 .
PBDT rose 23.11% to Rs 690.48 crore. Provision for depreciation rose 25.38% to Rs 178 crore. Fixed assets increased to Rs 1,502.94 crore as of 31 March 2023 from Rs 1,355.70 crore as of 31 March 2022. Intangible assets stood at Rs 175.81 crore.
Profit before tax grew 22.34% to Rs 512.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 113.81 crore, compared to Rs 70.63 crore. Effective tax rate was 22.35% compared to 16.34%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 9.34% to Rs 395.30 crore.
Equity capital increased from Rs 584.35 crore as of 31 March 2022 to Rs 585.41 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 33.00% as of 31 March 2023 ,compared to 67.18% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 533.29 crore for year ended March 2023 from Rs 444.58 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 335.24 crore, compared to Rs 347.21 crore during the year ended March 2022.
Other Highlights
Board of Directors has recommended the
Final Dividend of Rs 1.53 per equity share of the Company having face value of
Rs 10 each for the financial year 2022-23 to the shareholders of the Company.
In FY23, company developed and won new
orders for four new products – Electronic Differential Lock (EDL), Intermediate
Gears, Input shafts and Spiral Bevel Gears.
In FY23, net order book increased to Rs 21,500
crore from Rs 18,600 crore as of March 31st, 2022. EVs programs contribute 77%
to the net order book.
Revenue from BEV grew 33% YoY to Rs 671
crore in FY23 and contributed 26% to total revenue. BEV revenue grew 37% YoY to
Rs 204 crore in Q4 FY23, contributing 28% to total revenue.