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Results
06-Nov-23
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Analysis
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Aarti Industries
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PBT down 45%
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Consolidated
net sales of Aarti Industries has declined 13.71% to Rs 1454 crore. Operating profit margin has jumped from
15.85% to 16.02%, leading to 12.73% decline in operating profit to Rs 233.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 50.61% to 58.44%. Purchase of finished goods cost fell from
3.74% to 1.53%. Employee cost increased
from 6.00% to 6.60%. Other expenses
fell from 22.40% to 17.88%.
PBIDT
fell 12.73% to Rs 233 crore. Provision
for interest rose 31.82% to Rs 58 crore.
PBDT
fell 21.52% to Rs 175 crore. Provision
for depreciation rose 27.40% to Rs 93 crore.
Profit
before tax down 45.33% to Rs 82.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 9 crore,
compared to debit of Rs 26 crore.
Effective tax rate was negative 10.98% compared to 17.33%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 26.61% to Rs
91.00 crore.
Equity
capital decreased from Rs 181.25 crore as of 30 September 2022 to Rs 181.00
crore as of 30 September 2023 . Per
share face Value remained same at Rs 5.00.
Promoters’
stake was 43.57% as of 30 September 2023 ,compared to 44.16% as of 30 September
2022 .
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Aarti Industries has declined
12.99% to Rs 2868 crore.
Operating
profit margin has declined from 16.66% to 15.10%, leading to 21.13% decline in
operating profit to Rs 433.00 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
52.36% to 57.32%. Purchase of finished
goods cost fell from 3.75% to 3.60%.
Employee cost increased from 5.80% to 6.73%. Other expenses fell from 20.78% to
17.77%.
PBIDT
fell 21.13% to Rs 433 crore. Provision
for interest rose 11.36% to Rs 98 crore.
Loan funds rose to Rs 3,207.00 crore as of 30 September 2023 from Rs
2,767.46 crore as of 30 September 2022.
Inventories rose to Rs 1,196.00 crore as of 30 September 2023 from Rs
923.79 crore as of 30 September 2022.
Sundry debtors were lower at Rs 785.00 crore as of 30 September 2023
compared to Rs 1,171.91 crore as of 30 September 2022. Cash and bank balance rose to Rs 433.00 crore
as of 30 September 2023 from Rs 230.77 crore as of 30 September 2022. Investments declined from Rs 28.29 crore as
of 30 September 2022 to Rs 24.00 crore as of 30 September 2023.
PBDT
fell 27.33% to Rs 335 crore. Provision
for depreciation rose 25.52% to Rs 182 crore.
Fixed assets increased to Rs 6,190.00 crore as of 30 September 2023 from
Rs 5,373.00 crore as of 30 September 2022.
Profit
before tax down 51.58% to Rs 153.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 7 crore,
compared to debit of Rs 56 crore.
Effective tax rate was negative 4.58% compared to 17.72%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 38.46% to Rs
160.00 crore.
Equity
capital decreased from Rs 181.25 crore as of 30 September 2022 to Rs 181.00
crore as of 30 September 2023 . Per
share face Value remained same at Rs 5.00.
Promoters’
stake was 43.57% as of 30 September 2023 ,compared to 44.16% as of 30 September
2022 .
Cash
flow from operating activities increased to Rs 679.00 crore for YTD ended
September 2023 from Rs 218.00 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets
during the YTD ended September 2023 stood at Rs 575.00 crore, compared to Rs
577.00 crore during the YTD ended September 2022.
The
scrip trades at Rs 460
Aarti Industries : Consolidated
Results
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Particulars
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2309 (03)
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2209 (03)
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Var.(%)
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2309 (06)
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2209 (06)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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1,454
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1,685
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-14
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2,868
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3,296
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-13
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6,619
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6,086
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9
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OPM (%)
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16.0
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15.9
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15.1
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16.7
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16.5
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28.3
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OP
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233
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267
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-13
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433
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549
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-21
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1,089
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1,720
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-37
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Other Inc.
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0
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0
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-
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0
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0
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-
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0
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1
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-
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PBIDT
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233
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267
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-13
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433
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549
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-21
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1,089
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1,721
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-37
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Interest
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58
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44
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32
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98
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88
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11
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168
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102
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64
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PBDT
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175
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223
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-22
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335
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461
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-27
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921
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1,619
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-43
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Depreciation
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93
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73
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27
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182
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145
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26
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310
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246
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26
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PBT
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82
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150
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-45
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153
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316
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-52
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611
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1,372
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-55
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Share of Profit/(Loss) from Associates
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0
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0
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-
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0
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0
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-
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0
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0
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-
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PBT before EO
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82
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150
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-45
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153
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316
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-52
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611
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1,372
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-55
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EO Income
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0
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0
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-
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0
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0
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-
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0
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0
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-
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PBT after EO
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82
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150
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-45
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153
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316
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-52
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611
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1,372
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-55
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Taxation
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-9
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26
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LP
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-7
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56
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LP
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66
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186
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-65
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PAT
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91
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124
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-27
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160
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260
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-38
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545
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1,186
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-54
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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0
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0
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-
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Net profit
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91
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124
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-27
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160
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260
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-38
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545
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1,186
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-54
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EPS (Rs)*
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#
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#
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#
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#
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15.0
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32.7
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Notes
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* EPS is on current equity of Rs 181.25 crore, Face value of Rs
5, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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