For
the quarter ending March 2023, standalone Net sales (including other operating income) of Automotive Axles has increased 25.48% to Rs 693.01 crore compared to quarter ended Mar 2022. Operating profit margin has declined from 11.24% to 11.22%, leading to 25.25% rise in operating profit to Rs 77.73 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 72.08% to 72.09%. Employee cost decreased from 6.21% to 4.94%. Other expenses rose from 10.54% to 11.58%. Other income up 193.18% to Rs 1.29 crore. PBIDT rose 26.43% to Rs 79.02 crore. Provision for interest fell 1.59% to Rs 0.62 crore. Loan funds rose to Rs 28.06 crore as of 31 March 2023 from Rs 23.45 crore as of 31 March 2022. Inventories rose to Rs 230.71 crore as of 31 March 2023 from Rs 199.23 crore as of 31 March 2022. Sundry debtors were higher at Rs 498.60 crore as of 31 March 2023 compared to Rs 389.42 crore as of 31 March 2022. Cash and bank balance declined from Rs 80.51 crore as of 31 March 2022 to Rs 46.48 crore as of 31 March 2023.
PBDT rose 26.72% to Rs 78.4 crore. Provision for depreciation rose 0.48% to Rs 10.37 crore. Fixed assets declined from Rs 260.51 crore as of 31 March 2022 to Rs 250.76 crore as of 31 March 2023. Intangible assets declined from Rs 1.49 crore to Rs 1.15 crore.
Profit before tax grew 31.97% to Rs 68.03 crore. Provision for tax was expense of Rs 17.22 crore, compared to Rs 12.71 crore. Effective tax rate was 25.31% compared to 24.66%.
Profit after tax rose 30.82% to Rs 50.81 crore.
Equity capital stood at Rs 15.11 crore as of 31 March 2023 to Rs 15.11 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 71.04% as of 31 March 2023 ,compared to 71.04% as of 31 March 2022 .
Full year results analysis
Net sales (including other operating income) of Automotive Axles has increased 55.89% to Rs 2,323.70 crore. Operating profit margin has jumped from 9.04% to 11.08%, leading to 91.17% rise in operating profit to Rs 257.47 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 71.44% to 71.89%. Employee cost decreased from 7.62% to 5.45%. Other expenses fell from 11.96% to 11.61%. Other income up 15.49% to Rs 4.92 crore. PBIDT rose 88.85% to Rs 262.39 crore. Provision for interest up 18.22% to Rs 2.92 crore. Loan funds rose to Rs 28.06 crore as of 31 March 2023 from Rs 23.45 crore as of 31 March 2022. Inventories rose to Rs 230.71 crore as of 31 March 2023 from Rs 199.23 crore as of 31 March 2022. Sundry debtors were higher at Rs 498.60 crore as of 31 March 2023 compared to Rs 389.42 crore as of 31 March 2022. Cash and bank balance declined from Rs 80.51 crore as of 31 March 2022 to Rs 46.48 crore as of 31 March 2023.
PBDT rose 90.13% to Rs 259.47 crore. Provision for depreciation rose 13.59% to Rs 41.37 crore. Fixed assets declined from Rs 260.51 crore as of 31 March 2022 to Rs 250.76 crore as of 31 March 2023. Intangible assets declined from Rs 1.49 crore to Rs 1.15 crore.
Profit before tax grew 117.99% to Rs 218.10 crore. Provision for tax was expense of Rs 56.07 crore, compared to Rs 25.69 crore. Effective tax rate was 25.71% compared to 25.68%.
Profit after tax rose 117.90% to Rs 162.03 crore.
Equity capital stood at Rs 15.11 crore as of 31 March 2023 to Rs 15.11 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 71.04% as of 31 March 2023 ,compared to 71.04% as of 31 March 2022 .
Dividend update
Board
recommended a dividend of Rs 32 per share of Rs 10 each
for the Financial Year 2022-23.