For
the quarter ending March 2024, standalone net sales (including other operating income) of Gabriel India has increased 16.51% to Rs 858.63 crore compared to quarter ended March 2023. Operating profit margin has jumped from 7.11% to 9.03%, leading to 48.12% rise in operating profit to Rs 77.57 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 74.70% to 73.96%. Purchase of finished goods cost fell from 1.36% to 1.06%. Employee cost decreased from 6.28% to 5.86%. Other expenses fell from 10.52% to 10.04%. Other income up 22.60% to Rs 7.92 crore. PBIDT rose 45.32% to Rs 85.49 crore. Provision for interest up 44.71% to Rs 1.23 crore. Loan funds declined from Rs 11.16 crore as of 31 March 2023 to Rs 10.26 crore as of 31 March 2024. Inventories rose to Rs 235.73 crore as of 31 March 2024 from Rs 224.81 crore as of 31 March 2023. Sundry debtors were higher at Rs 452.94 crore as of 31 March 2024 compared to Rs 383.72 crore as of 31 March 2023. Cash and bank balance declined from Rs 107.45 crore as of 31 March 2023 to Rs 73.19 crore as of 31 March 2024. Investments rose to Rs 132.14 crore as of 31 March 2024 from Rs 79.54 crore as of 31 March 2023 .
PBDT rose 45.33% to Rs 84.26 crore. Provision for depreciation rose 10.33% to Rs 14.31 crore. Fixed assets increased to Rs 462.80 crore as of 31 March 2024 from Rs 440.71 crore as of 31 March 2023. Intangible assets increased from Rs 14.68 crore to Rs 26.02 crore.
Profit before tax grew 55.41% to Rs 69.95 crore. Provision for tax was expense of Rs 17.24 crore, compared to Rs 11.25 crore. Effective tax rate was 24.65% compared to 24.99%.
Profit after tax rose 56.13% to Rs 52.71 crore.
Equity capital stood at Rs 14.36 crore as of 31 March 2024 to Rs 14.36 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 55.00% as of 31 March 2024 ,compared to 55.00% as of 31 March 2023 .
Full year results analysis
Net sales (including other operating income) of Gabriel India has increased 12.48% to Rs 3,342.65 crore. Operating profit margin has jumped from 7.19% to 8.95%, leading to 39.92% rise in operating profit to Rs 299.00 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 75.27% to 73.84%. Purchase of finished goods cost fell from 1.23% to 1.13%. Employee cost increased from 6.12% to 6.17%. Other expenses fell from 10.24% to 9.93%. Other income up 27.31% to Rs 22.14 crore. PBIDT rose 38.97% to Rs 321.14 crore. Provision for interest up 18.08% to Rs 5.42 crore. Loan funds declined from Rs 11.16 crore as of 31 March 2023 to Rs 10.26 crore as of 31 March 2024. Inventories rose to Rs 235.73 crore as of 31 March 2024 from Rs 224.81 crore as of 31 March 2023. Sundry debtors were higher at Rs 452.94 crore as of 31 March 2024 compared to Rs 383.72 crore as of 31 March 2023. Cash and bank balance declined from Rs 107.45 crore as of 31 March 2023 to Rs 73.19 crore as of 31 March 2024. Investments rose to Rs 132.14 crore as of 31 March 2024 from Rs 79.54 crore as of 31 March 2023 .
PBDT rose 39.39% to Rs 315.72 crore. Provision for depreciation rose 35.17% to Rs 65.68 crore. Fixed assets increased to Rs 462.80 crore as of 31 March 2024 from Rs 440.71 crore as of 31 March 2023. Intangible assets increased from Rs 14.68 crore to Rs 26.02 crore.
Profit before tax grew 40.54% to Rs 250.04 crore. Provision for tax was expense of Rs 64.88 crore, compared to Rs 45.56 crore. Effective tax rate was 25.95% compared to 25.61%.
Profit after tax rose 39.90% to Rs 185.16 crore.
Equity capital stood at Rs 14.36 crore as of 31 March 2024 to Rs 14.36 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 55.00% as of 31 March 2024 ,compared to 55.00% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 188.89 crore for year ended March 2024 from Rs 136.35 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 93.52 crore, compared to Rs 88.67 crore during the year ended March 2023.
Business Highlights
The
board recommended the Final Dividend for FY 2023-24 of Rs 2.50 per equity share
for FY24. The Final Dividend shall be paid to the shareholders on or before September
12, 2024.
In
Q4 FY24, passenger cars (PC) contributed 25% of total revenue, CVR 12%, two
wheelers/ three wheelers 62% and trading 1%.
In
terms of channel mix, OE contributed 87% of total revenue in Q4 FY24,
replacement 10% and exports 3%.
In
Aftermarket segment, passenger cars (PC) contributed 36% of total revenue
during March 2024 quarter, CVR 9%, two wheelers/ three wheelers 44% and trading
11%.