|
Consolidated net sales (including other
operating income) of P I Industries has increased 11.20% to Rs 1741 crore. Operating profit margin has jumped from
21.90% to 25.38%, leading to 28.88% rise in operating profit to Rs 441.80
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 53.55% to 46.55%. Purchase of finished goods cost fell from
2.21% to 2.09%. Employee cost increased
from 8.48% to 9.77%. Other expenses
rose from 14.15% to 17.39%.
Other income rose 16.97% to Rs 57.9
crore. PBIDT rose 27.38% to Rs 499.7
crore. Provision for interest rose
230.30% to Rs 10.9 crore. Loan funds
rose to Rs 190.60 crore as of 31 March 2024 from Rs 46.50 crore as of 31 March
2023. Inventories declined from Rs
1,397.60 crore as of 31 March 2023 to Rs 1,301.20 crore as of 31 March
2024. Sundry debtors were higher at Rs
929.90 crore as of 31 March 2024 compared to Rs 772.00 crore as of 31 March
2023. Cash and bank balance rose to Rs
2,703.90 crore as of 31 March 2024 from Rs 2,242.90 crore as of 31 March
2023. Investments rose to Rs 1,336.30
crore as of 31 March 2024 from Rs 1,015.60 crore as of 31 March 2023 .
PBDT rose 25.66% to Rs 488.8 crore. Provision for depreciation rose 38.47% to Rs
79.9 crore. Fixed assets increased to Rs
3,445.30 crore as of 31 March 2024 from Rs 2,655.10 crore as of 31 March
2023. Intangible assets increased from
Rs 82.80 crore to Rs 361.10 crore.
Profit before tax grew 23.42% to Rs 408.90
crore. Share of profit/loss was 100%
higher at Rs 2.4 crore. Provision for
tax was expense of Rs 41.8 crore, compared to Rs 51.9 crore. Effective tax rate was 10.16% compared to
15.61%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 31.68% to Rs 369.50 crore. Equity capital stood at Rs 15.20 crore as of
31 March 2024 to Rs 15.20 crore as of 31 March 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 46.09% as of 31 March
2024 compared to 46.09% as of 31 March 2023 .
Full
year results analysis
Net sales (including other operating income)
of P I Industries has increased 18.08% to Rs 7665.8 crore. Operating profit margin has jumped from
23.75% to 26.28%, leading to 30.65% rise in operating profit to Rs 2,014.70
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 52.34% to 46.66%. Purchase of finished goods cost rose from
2.87% to 3.43%. Employee cost increased
from 8.03% to 9.14%. Other expenses
rose from 13.27% to 14.50%.
Other income rose 30.63% to Rs 207.7
crore. PBIDT rose 30.64% to Rs 2222.4
crore. Provision for interest fell
19.14% to Rs 30 crore. Loan funds rose
to Rs 190.60 crore as of 31 March 2024 from Rs 46.50 crore as of 31 March 2023. Inventories declined from Rs 1,397.60 crore
as of 31 March 2023 to Rs 1,301.20 crore as of 31 March 2024. Sundry debtors were higher at Rs 929.90 crore
as of 31 March 2024 compared to Rs 772.00 crore as of 31 March 2023. Cash and bank balance rose to Rs 2,703.90
crore as of 31 March 2024 from Rs 2,242.90 crore as of 31 March 2023. Investments rose to Rs 1,336.30 crore as of
31 March 2024 from Rs 1,015.60 crore as of 31 March 2023 .
PBDT rose 31.75% to Rs 2192.4 crore. Provision for depreciation rose 36.07% to Rs
308.2 crore. Fixed assets increased to
Rs 3,445.30 crore as of 31 March 2024 from Rs 2,655.10 crore as of 31 March
2023. Intangible assets increased from
Rs 82.80 crore to Rs 361.10 crore.
Profit before tax grew 31.07% to Rs 1,884.20
crore. Share of profit/loss was 54.41%
higher at Rs 10.5 crore. Provision for
tax was expense of Rs 213.2 crore, compared to Rs 214.8 crore. Effective tax rate was 11.25% compared to
14.87%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 36.76% to Rs 1,681.50 crore.
Equity capital stood at Rs 15.20 crore as of
31 March 2024 to Rs 15.20 crore as of 31 March 2023. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 46.09% as of 31 March
2024 ,compared to 46.09% as of 31 March 2023 .
Cash flow from operating activities increased
to Rs 2,035.90 crore for year ended March 2024 from Rs 1,501.40 crore for year
ended March 2023. Cash flow used in
acquiring fixed assets during the year ended March 2024 stood at Rs 620.40
crore, compared to Rs 326.30 crore during the year ended March 2023.
The scrip is
currently trading at Rs 3700
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P I Industries : Consolidated
Results
|
|
Particulars
|
2403
(03)
|
2303
(03)
|
Var.(%)
|
2403
(12)
|
2303
(12)
|
Var.(%)
|
|
Net
Sales (including other operating income)
|
1,741.00
|
1,565.60
|
11
|
7,665.80
|
6,492.00
|
18
|
|
OPM
(%)
|
25.4
|
21.9
|
|
26.3
|
23.8
|
|
|
OP
|
441.8
|
342.8
|
29
|
2,014.70
|
1,542.10
|
31
|
|
Other
Inc.
|
57.9
|
49.5
|
17
|
207.7
|
159
|
31
|
|
PBIDT
|
499.7
|
392.3
|
27
|
2,222.40
|
1,701.10
|
31
|
|
Interest
|
10.9
|
3.3
|
230
|
30
|
37.1
|
-19
|
|
PBDT
|
488.8
|
389
|
26
|
2,192.40
|
1,664.00
|
32
|
|
Depreciation
|
79.9
|
57.7
|
38
|
308.2
|
226.5
|
36
|
|
PBT
|
408.9
|
331.3
|
23
|
1884.2
|
1437.5
|
31
|
|
Share
of Profit/(Loss) from Associates
|
2.4
|
1.2
|
100
|
10.5
|
6.8
|
54
|
|
PBT
before EO
|
411.3
|
332.5
|
24
|
1894.7
|
1444.3
|
31
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
411.3
|
332.5
|
24
|
1894.7
|
1444.3
|
31
|
|
Taxation
|
41.8
|
51.9
|
-19
|
213.2
|
214.8
|
-1
|
|
PAT
|
369.5
|
280.6
|
32
|
1681.5
|
1229.5
|
37
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
369.5
|
280.6
|
32
|
1681.5
|
1229.5
|
37
|
|
EPS
(Rs)*
|
#
|
#
|
|
110.8
|
81.0
|
|
|
Notes
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|
*
EPS is on current equity of Rs 15.17 crore, Face value of Rs 1, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
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