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Results
18-Aug-18
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Analysis
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ITL Industries
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Sales up 11%, PAT up 42%
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ITL Industries has registered 11% growth in sales to Rs 19.04 crore for the quarter ended June 2018. Higher sales together with 90 bps expansion in operating profit margin to 10.4% the operating profit was higher by 22% to Rs 1.99 crore. The PBT was up by 39% Rs 1.46 crore gained further by lower interest cost. But for lower other income and higher depreciation the growth would have been much higher. Taxation was higher by 25% to Rs 0.25 crore and the tax rate was lower at 17.2% (down from 19%) the PAT was eventually higher by 42% to Rs 1.21 crore.
- Operating income was up by 11% to Rs 19.04 crore as segment revenue of both machine manufacturing and trading activities stand higher. Segment revenue of machine manufacturing was up by 8% to Rs 13.75 crore and that of trading activities was up by 12% to Rs 6.21 crore.
- OPM expanded by 90 bps to 10.4% and that was largely due to higher material and staff cost. Material cost as proportion to sales net of stocks was higher by 240 bps to 64.9%. And that of staff cost was higher by 20 bps to 13.6%. But the OE was lower by 350 bps to 9.9%. Thus gained by higher sales and higher margin, the operating profit was up by 22% to Rs 1.99 crore.
- EBIT was up by 21% to Rs 1.74 crore with segment profit of both machine manufacturing and trading activities register double digit growth. Segment profit of machine manufacturing was up by 14% to Rs 1.35 crore and that of trading activities was up by 55% to Rs 0.38 crore. While segment margin of machine manufacturing expanded by 60 bps to 9.9% that of trading activities expanded by sharp 170 bps to 6.2%.
- Other income was higher by 47% to Rs 0.05 crore and thus the PBIDT was up by 23% to Rs 2.04 crore. The interest cost was down by 26% to Rs 0.28 crore. And the depreciation was up by 33% to Rs 0.30 crore. Thus the PBT before EO was up by 39% to Rs 1.46 crore.
- The taxation in absolute terms was up by 25% to Rs 0.25 crore, and the tax rate was lower at 17.2% compared to 19% in corresponding previous period. Thus the PAT was higher by 42% to Rs 1.21 crore.
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