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Results
24-May-24
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Analysis
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PCBL
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Sales up 40%, NP up 9%
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Consolidated
net sales (including other operating income) of PCBL has increased 40.40% to Rs
1928.78 crore. Sales of Carbon Black
segment has gone up 23.29% to Rs 1,646.04 crore (accounting for 84.16% of total
sales). Sales of Power segment has gone
up 25.55% to Rs 70.70 crore (accounting for 3.61% of total sales). Inter-segment sales rose Rs 17.62 crore to Rs
27.03 crore.
Profit
before interest, tax and other unallocable items (PBIT) has jumped 46.56% to Rs
298.41 crore. PBIT of Carbon Black
segment rose 53.38% to Rs 259.46 crore (accounting for 86.95% of total
PBIT). PBIT of Power segment rose 36.72%
to Rs 47.10 crore (accounting for 15.78% of total PBIT).
PBIT
margin of Carbon Black segment rose from 12.67% to 15.76%. PBIT margin of Power segment rose from 61.18%
to 66.62%. Overall PBIT margin rose from
14.63% to 15.26%.
Operating
profit margin has jumped from 13.38% to 16.05%, leading to 68.37% rise in
operating profit to Rs 309.51 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
73.25% to 68.15%. Employee cost
increased from 3.58% to 4.21%. Other
expenses rose from 9.10% to 11.46%.
Other
income rose 39.59% to Rs 23.2 crore.
PBIDT rose 65.98% to Rs 332.71 crore.
Provision for interest rose 481.35% to Rs 108.19 crore. Loan funds rose to Rs 4,983.10 crore as of 31
March 2024 from Rs 1,029.44 crore as of 31 March 2023. Inventories rose to Rs 999.31 crore as of 31
March 2024 from Rs 571.39 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,710.24
crore as of 31 March 2024 compared to Rs 1,110.65 crore as of 31 March
2023. Cash and bank balance rose to Rs
384.80 crore as of 31 March 2024 from Rs 95.59 crore as of 31 March 2023. Investments rose to Rs 433.02 crore as of 31
March 2024 from Rs 233.84 crore as of 31 March 2023 .
PBDT
rose 23.47% to Rs 224.52 crore.
Provision for depreciation rose 124.11% to Rs 75.19 crore. Fixed assets increased to Rs 6,163.91 crore
as of 31 March 2024 from Rs 3,096.98 crore as of 31 March 2023. Intangible assets increased from Rs 0.67
crore to Rs 1,161.37 crore.
Profit
before tax grew 0.70% to Rs 149.33 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 38.38
crore, compared to Rs 46.01 crore.
Effective tax rate was 25.70% compared to 31.03%.
Net
profit attributable to owners of the company increased 8.90% to Rs 111.26
crore.
Equity
capital stood at Rs 37.75 crore as of 31 March 2024 to Rs 37.75 crore as of 31
March 2023. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 51.41% as of 31 March 2024 compared to 51.41% as of 31 March
2023.
Full year results
analysis
Net
sales (including other operating income) of PCBL has increased 11.18% to Rs
6419.77 crore. Sales of Carbon Black
segment has gone up 6.77% to Rs 6,012.83 crore (accounting for 92.38% of total
sales). Sales of Power segment has gone
up 19.51% to Rs 256.95 crore (accounting for 3.95% of total sales). Inter-segment sales rose Rs 72.70 crore to Rs
89.08 crore.
Profit
before interest, tax and other unallocable items (PBIT) has jumped 28.79% to Rs
1,063.56 crore. PBIT of Carbon Black
segment rose 31.07% to Rs 909.46 crore (accounting for 85.51% of total
PBIT). PBIT of Power segment rose 22.94%
to Rs 162.25 crore (accounting for 15.26% of total PBIT).
PBIT
margin of Carbon Black segment rose from 12.32% to 15.13%. PBIT margin of Power segment rose from 61.38%
to 63.14%. Overall PBIT margin rose from
14.12% to 16.34%.
Operating
profit margin has jumped from 12.66% to 16.16%, leading to 41.86% rise in
operating profit to Rs 1,037.34 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 75.40% to 69.86%.
Employee cost increased from 3.30% to 3.86%. Other expenses rose from 8.65% to
10.27%.
Other
income fell 8.82% to Rs 37.03 crore.
PBIDT rose 39.20% to Rs 1074.37 crore.
Provision for interest rose 238.48% to Rs 180.78 crore. Loan funds rose to Rs 4,983.10 crore as of 31
March 2024 from Rs 1,029.44 crore as of 31 March 2023. Inventories rose to Rs 999.31 crore as of 31
March 2024 from Rs 571.39 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,710.24
crore as of 31 March 2024 compared to Rs 1,110.65 crore as of 31 March
2023. Cash and bank balance rose to Rs
384.80 crore as of 31 March 2024 from Rs 95.59 crore as of 31 March 2023. Investments rose to Rs 433.02 crore as of 31
March 2024 from Rs 233.84 crore as of 31 March 2023 .
PBDT
rose 24.38% to Rs 893.59 crore.
Provision for depreciation rose 58.89% to Rs 217.26 crore. Fixed assets increased to Rs 6,163.91 crore
as of 31 March 2024 from Rs 3,096.98 crore as of 31 March 2023. Intangible assets increased from Rs 0.67
crore to Rs 1,161.37 crore.
Profit
before tax grew 16.27% to Rs 676.33 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 185.22
crore, compared to Rs 139.49 crore.
Effective tax rate was 27.39% compared to 23.98%.
Minority
interest decreased 56.41% to Rs 0.17 crore.
Net profit attributable to owners of the company increased 11.12% to Rs
490.94 crore.
Equity
capital stood at Rs 37.75 crore as of 31 March 2024 to Rs 37.75 crore as of 31
March 2023. Per share face Value
remained same at Rs 1.00.
Promoters’
stake was 51.41% as of 31 March 2024 ,compared to 51.41% as of 31 March
2023.
Cash
flow from operating activities increased to Rs 1,105.40 crore for year ended
March 2024 from Rs 504.09 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 535.75 crore, compared to Rs
895.90 crore during the year ended March 2023.
.
The
scrip trades at Rs 258
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PCBL : Consolidated Results
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Particulars
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2403 (03)
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2303 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales
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1,928.78
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1,373.81
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40
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6,419.77
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5,774.06
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11
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OPM (%)
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16.0
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13.4
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16.2
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12.7
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OP
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309.51
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183.83
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68
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1,037.34
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731.22
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42
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Other Inc.
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23.2
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16.62
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40
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37.03
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40.61
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-9
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PBIDT
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332.71
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200.45
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66
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1074.37
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771.83
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39
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Interest
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108.19
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18.61
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481
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180.78
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53.41
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238
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PBDT
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224.52
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181.84
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23
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893.59
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718.42
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24
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Depreciation
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75.19
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33.55
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124
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217.26
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136.74
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59
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PBT
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149.33
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148.29
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1
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676.33
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581.68
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16
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Share of Profit/(Loss) from Associates
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0
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0
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0
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0
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PBT before EO
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149.33
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148.29
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1
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676.33
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581.68
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16
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EO Income
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0
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0
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0
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0
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PBT after EO
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149.33
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148.29
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1
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676.33
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581.68
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16
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Taxation
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38.38
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46.01
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-17
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185.22
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139.49
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33
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PAT
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110.95
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102.28
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8
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491.11
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442.19
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11
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Minority Interest (MI)
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-0.31
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0.11
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LP
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0.17
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0.39
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-56
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Net profit
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111.26
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102.17
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9
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490.94
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441.8
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11
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EPS (Rs)*
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#
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#
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13.0
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11.7
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Notes
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* EPS is on current equity of Rs 37.75 crore, Face value of Rs
1, 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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PCBL : Consolidated Segment
Results
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% of (Total)
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2403 (03)
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2303 (03)
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Var.(%)
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% of (Total)
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2403 (12)
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2303 (12)
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Var.(%)
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Sales
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Carbon Black
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84
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1,646.04
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1,335.12
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23
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92
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6,012.83
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5,631.75
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7
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Power
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4
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70.7
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56.31
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26
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4
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256.95
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215.01
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20
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Chemical
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12
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239.07
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-
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4
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239.07
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Total Reported Sales
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100
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1,955.81
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1,391.43
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41
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100
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6,508.85
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5,846.76
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11
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Less: Inter segment revenues
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27.03
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17.62
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53.41
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89.08
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72.7
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22.53
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Net Sales
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100
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1,928.78
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1,373.81
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40.4
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100
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6,419.77
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5,774.06
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11.18
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PBIT
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Carbon Black
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87
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259.46
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169.16
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53
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86
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909.46
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693.85
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31
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Power
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16
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47.1
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34.45
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37
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15
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162.25
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131.98
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23
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Chemical
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-3
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-8.15
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-
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-8.15
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Total PBIT
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100
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298.41
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203.61
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47
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100
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1,063.56
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825.83
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29
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Less : Interest
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108.19
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18.61
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481
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180.78
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53.41
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238
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Add: Other un-allcoable
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-40.89
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-36.71
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-11
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-206.45
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-190.74
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-8
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PBT
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149.33
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148.29
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1
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676.33
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581.68
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16
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Previous News |
PCBL
(
Analyst Meet / AGM
-
Conference Call
21-Jan-22
22:11
)
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PCBL consolidated net profit rises 5.37% in the September 2023 quarter
(
Results
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Announcements
17-Oct-23
15:32
)
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PCBL
(
Analyst Meet / AGM
-
Conference Call
18-Oct-23
00:09
)
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PCBL hits life high as Q3 PAT spurts 52% YoY to Rs 148 cr
(
Hot Pursuit
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15-Jan-24
15:35
)
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Board of PCBL recommends Interim Dividend
(
Corporate News
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16-Jan-24
09:53
)
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Board of Phillips Carbon Black recommends Interim Dividend
(
Corporate News
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21-Jan-22
09:43
)
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PCBL hits record high after announcing JV with Kinaltek
(
Hot Pursuit
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30-Nov-23
11:52
)
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Phillips Carbon Black fixes record date for interim dividend
(
Market Beat
-
Reports
21-Jan-21
09:11
)
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Phillips Carbon Black to announce Quarterly Result
(
Corporate News
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20-Oct-21
10:22
)
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Board of Phillips Carbon Black recommends Interim Dividend
(
Corporate News
-
14-Feb-20
11:21
)
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Phillips Carbon Black receives affirmation in credit ratings for bank facilities and CPs
(
Corporate News
-
21-Sep-20
18:49
)
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