|
Results
11-Nov-23
|
|
|
|
|
Analysis
|
|
Tide Water Oil Co (I)
|
Sales up 6%, NP up 72%
|
|
|
Consolidated net sales (including other
operating income) of Tide Water Oil Co (I) has increased 5.84% to Rs 474.18
crore. Operating profit margin has
jumped from 6.21% to 8.77%, leading to 49.32% rise in operating profit to Rs
41.57 crore. Raw material cost as a % of
total sales (net of stock adjustments) decreased from 61.40% to 56.12%. Purchase of finished goods cost rose from
5.92% to 6.91%. Employee cost increased
from 6.53% to 7.27%. Other expenses
rose from 19.93% to 20.79%. Other
direct service cost rose from 8.93% to 10.31%.
Other income rose 58.99% to Rs 5.04
crore. PBIDT rose 50.31% to Rs 46.61
crore. Provision for interest fell 15%
to Rs 0.34 crore.
PBDT rose 51.16% to Rs 46.27 crore. Provision for depreciation rose 1.59% to Rs
3.84 crore.
Profit before tax grew 58.14% to Rs 42.43
crore. Share of profit/loss was 179.17%
higher at Rs 2.68 crore. Provision for
tax was expense of Rs 9.89 crore, compared to Rs 7.36 crore. Effective tax rate was 21.92% compared to
26.48%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 72.39% to Rs 35.22 crore.
Equity capital stood at Rs 3.40 crore as of 30
September 2023 to Rs 3.40 crore as of 30 September 2022. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 57.28% as of 30
September 2023 ,compared to 57.28% as of 30 September 2022 .
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Tide Water Oil Co (I) has increased 6.89% to Rs 947.92 crore.
Operating profit margin has jumped from 7.63%
to 8.45%, leading to 18.44% rise in operating profit to Rs 80.10 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 60.53% to 56.78%. Purchase of finished goods cost rose from
5.72% to 7.16%. Employee cost increased
from 6.46% to 7.28%. Other expenses
rose from 19.81% to 20.26%. Other
direct service cost rose from 8.87% to 10.41%.
Other income rose 38.95% to Rs 9.81
crore. PBIDT rose 20.38% to Rs 89.91
crore. Provision for interest fell
20.48% to Rs 0.66 crore. Loan funds
declined from Rs 0.74 crore as of 30 September 2022 to Rs 0.45 crore as of 30
September 2023. Inventories declined
from Rs 356.57 crore as of 30 September 2022 to Rs 278.15 crore as of 30
September 2023. Sundry debtors were
higher at Rs 231.86 crore as of 30 September 2023 compared to Rs 214.76 crore
as of 30 September 2022. Cash and bank
balance rose to Rs 194.28 crore as of 30 September 2023 from Rs 91.31 crore as
of 30 September 2022. Investments rose
to Rs 73.84 crore as of 30 September 2023 from Rs 70.91 crore as of 30
September 2022 .
PBDT rose 20.84% to Rs 89.25 crore. Provision for depreciation rose 0.53% to Rs
7.63 crore. Fixed assets declined from
Rs 149.55 crore as of 30 September 2022 to Rs 148.12 crore as of 30 September
2023. Intangible assets declined from Rs
120.92 crore to Rs 120.55 crore.
Profit before tax grew 23.16% to Rs 81.62
crore. Share of profit/loss was 72.01%
higher at Rs 5.47 crore. Provision for
tax was expense of Rs 20.68 crore, compared to Rs 15.3 crore. Effective tax rate was 23.75% compared to
22.03%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 22.64% to Rs 66.41 crore.
Equity capital stood at Rs 3.40 crore as of
30 September 2023 to Rs 3.40 crore as of 30 September 2022. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 57.28% as of 30
September 2023 compared to 57.28% as of 30 September 2022 .
The scrip is
currently trading at Rs 1183
Tide Water Oil Co (I) : Consolidated Results
|
Particulars
|
2309 (03)
|
2209 (03)
|
Var. (%)
|
2309 (06)
|
2209 (06)
|
Var. (%)
|
2303 (12)
|
2203 (12)
|
Var.(%)
|
Net
Sales
|
474.18
|
448.02
|
6
|
947.92
|
886.82
|
7
|
1,853.80
|
1,535.71
|
21
|
OPM
(%)
|
8.8
|
6.2
|
|
8.5
|
7.6
|
|
7.7
|
9.6
|
|
OP
|
41.57
|
27.84
|
49
|
80.1
|
67.63
|
18
|
142.17
|
147.26
|
-3
|
Other
Inc.
|
5.04
|
3.17
|
59
|
9.81
|
7.06
|
39
|
14.99
|
19.65
|
-24
|
PBIDT
|
46.61
|
31.01
|
50
|
89.91
|
74.69
|
20
|
157.16
|
166.91
|
-6
|
Interest
|
0.34
|
0.4
|
-15
|
0.66
|
0.83
|
-20
|
1.49
|
1.6
|
-7
|
PBDT
|
46.27
|
30.61
|
51
|
89.25
|
73.86
|
21
|
155.67
|
165.31
|
-6
|
Depreciation
|
3.84
|
3.78
|
2
|
7.63
|
7.59
|
1
|
15.55
|
15.47
|
1
|
PBT
|
42.43
|
26.83
|
58
|
81.62
|
66.27
|
23
|
140.12
|
149.84
|
-6
|
Share
of Profit/(Loss) from Associates
|
2.68
|
0.96
|
179
|
5.47
|
3.18
|
72
|
6.95
|
10.27
|
-32
|
PBT
before EO
|
45.11
|
27.79
|
62
|
87.09
|
69.45
|
25
|
147.07
|
160.11
|
-8
|
EO
Income
|
0.00
|
0.00
|
|
0.00
|
0.00
|
|
0
|
0
|
|
PBT
after EO
|
45.11
|
27.79
|
62
|
87.09
|
69.45
|
25
|
147.07
|
160.11
|
-8
|
Taxation
|
9.89
|
7.36
|
34
|
20.68
|
15.30
|
35
|
32.58
|
37.2
|
-12
|
PAT
|
35.22
|
20.43
|
72
|
66.41
|
54.15
|
23
|
114.49
|
122.91
|
-7
|
Minority
Interest (MI)
|
0
|
0
|
|
0
|
0
|
|
0
|
0
|
|
Net
profit
|
35.22
|
20.43
|
72
|
66.41
|
54.15
|
23
|
114.49
|
122.91
|
-7
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
65.7
|
70.5
|
|
Notes
|
*
EPS is on current diluted equity of Rs 3.4 crore, Face value of Rs 2,
Excluding extraordinary items.
|
#
EPS is not annualised
|
bps
: Basis points
|
Figures
in Rs crore
|
Source:
Capitaline Corporate Database
|
|
|
Previous News |
Tide Water Oil Co (I)
(
Results
-
Analysis
15-Feb-23
08:41
)
|
|
Tide Water Oil Co (I)
(
Results
-
Analysis
14-Aug-24
06:00
)
|
|
Tide Water Oil
(
Results
-
Analysis
30-May-19
18:55
)
|
|
Tide Water Oil Co (I)
(
Results
-
Analysis
15-Aug-21
14:05
)
|
|
Board of Tide Water Oil Company India recommends first interim dividend
(
Corporate News
-
16-Nov-23
10:13
)
|
|
Board of Tide Water Oil Company India recommends Final Dividend
(
Corporate News
-
25-Jun-20
10:54
)
|
|
Tide Water Oil Company India to hold board meeting
(
Corporate News
-
30-Jul-21
19:32
)
|
|
Tide Water Oil Company India to announce Quarterly Result
(
Corporate News
-
02-Feb-22
10:34
)
|
|
Tide Water Oil Co (I) standalone net profit declines 15.02% in the December 2016 quarter
(
Results
-
Announcements
11-Feb-17
10:02
)
|
|
Tide Water Oil Co (I) fixes record date for interim dividend
(
Market Beat
-
Reports
31-Oct-18
13:04
)
|
|
Tide Water Oil Co (I) standalone net profit rises 27.63% in the December 2017 quarter
(
Results
-
Announcements
13-Feb-18
09:05
)
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|