Capitaline

Results 03-Jun-21

Analysis

India Nippon Electricals

Sales up 34%, net up 16%

Related Tables

India Nippon Electricals : Consolidated Financial Results

Consolidated net sales (including other operating income) of India Nippon Electricals for the quarter ended March 2021 has increased 34% to Rs 150.06 crore. Operating profit margin has jumped from 9.1% to 10.9%, leading to 60% rise in operating profit to Rs 16.31 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 67.33% to 67.50%. Employee cost increased from 13.23% to 14.20%. Other expenses fell from 10.33% to 7.53%. Other direct service cost fell from 5.10% to 3.85%. Other income fell 37% to Rs 4.17 crore. Provision for interest fell 13% to Rs 0.13 crore. Provision for depreciation rose 6% to Rs 2.78 crore. Profit before tax grew 25% to Rs 17.57 crore. Share of profit/loss were nil for the quarter compared to a loss of Rs 0.91 crore in the corresponding previous period. PBT before EO was up 34% to Rs 17.57 crore. Provision for tax was expense of Rs 3.96 crore, compared to Rs 1.41 crore. Effective tax rate was 22.54% compared to 10.71%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 16% to Rs 13.61 crore.

Yearly Performance

Consolidated net sales (including other operating income) of India Nippon Electricals has increased 1% to Rs 481.23 crore. Operating profit margin has slumped from 11.8% to 9.4%, leading to 20% decline in operating profit to Rs 45.35 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 65.68% to 67.61%. Employee cost increased from 12.62% to 13.71%. Other expenses fell from 9.87% to 9.29%. Other direct service cost fell from 4.78% to 4.48%. Other income fell 38% to Rs 16.17 crore.Provision for depreciation rose 10% to Rs 10.35 crore. Thus Profit before tax shrink 31% to Rs 50.61 crore. Share of profit/loss were nil compared to a loss of Rs 1.66 crore in the corresponding previous period. Provision for tax was expense of Rs 10.97 crore, compared to Rs 16.91 crore. Minority interest was nil in both the periods. Thus net profit attributable to owners of the company decreased 27% to Rs 39.64 crore.

Other developments

The Company has declared an interim dividend of Rs.6 per share on face value of Rs. 5 per share on 26-Mar-2021.The Board has decided that the interim dividend paid will be the final dividend for the year ended 31-March-2021.

Equity capital stood at Rs 11.31 crore as of 31 March 2021 to Rs 11.31 crore as of 31 March 2020. Per share face Value remained same at Rs 5.00.

Promoters' stake was 66.39% as of 31 March 2021,compared to 66.39% as of 31 March 2020.

Previous News

India Nippon Electricals consolidated net profit rises 40.81% in the December 2022 quarter
( Results - Announcements 14-Feb-23 16:37 )

India Nippon Electricals
( Results - Analysis 03-Jun-21 23:29 )

India Nippon Electricals consolidated net profit declines 6.58% in the September 2022 quarter
( Results - Announcements 11-Nov-22 15:51 )

India Nippon Electricals fixes record date for 2nd interim dividend
( Market Beat - Reports 27-Feb-19 14:46 )

India Nippon Electricals to conduct board meeting
( Corporate News - 27-Feb-19 15:47 )

Board of India Nippon Electricals recommends Interim Dividend
( Corporate News - 26-Mar-21 18:08 )

India Nippon Electricals standalone net profit rises 4.49% in the September 2017 quarter
( Results - Announcements 04-Nov-17 15:31 )

India Nippon electricals
( Results - Analysis 08-Aug-21 18:27 )

India Nippon Electricals to convene AGM
( Corporate News - 31-May-19 16:50 )

India Nippon Electrical
( Results - Analysis 20-May-17 21:36 )

India Nippon Electricals standalone net profit rises 11.94% in the December 2016 quarter
( Results - Announcements 28-Jan-17 11:26 )