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Results
24-Aug-21
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Analysis
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PTC India
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PAT up 14% on good operating show
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Standalone net sales (including other operating income) of PTC India for
the quarter ended Jun 2021 has increased 8.42% to Rs 4,621.23 crore with volume
traded stand higher by 21%. Operating profit margin has jumped from
2.2% to 2.4%, leading to 16% rise in operating profit to Rs 108.99
crore. Cost of electricity purchased stood lower by 50 bps to
96.8%. Employee cost increased from 0.2%
to 0.3%. Other operating expenses rose from 0.1% to 0.3%.
Other expenses stood flat at 0.2%.
Other income fell 77% to Rs 0.82 crore. PBIDT rose 12.35% to
Rs 109.81 crore. Provision for interest fell 7% to Rs 5.48
crore. PBDT rose 14% to Rs 104.33 crore. Provision for
depreciation rose 29% to Rs 0.75 crore. Profit before tax grew 13%
to Rs 103.58 crore. Provision for tax was expense of Rs 26.71 crore,
compared to Rs 23.61 crore. Effective tax rate was 25.79% compared
to 25.87%. Profit after tax rose 13.60% to Rs 76.87 crore.
Consolidated quarterly performance
Consolidated net sales (including other operating income) of PTC India has
increased 7.08% to Rs 4958.5 crore. Sales of Power segment has gone
down 14.24% to Rs 4,343.48 crore (accounting for 93.63% of total
sales). Sales of Investment segment has gone down 15.17% to Rs
295.45 crore (accounting for 6.37% of total sales). Profit before
interest, tax and other unallocable items (PBIT) has slumped 0.01% to Rs 145.15
crore. PBIT of Power segment fell 15.23% to Rs 102.80 crore
(accounting for 70.82% of total PBIT). PBIT of Investment segment
rose 77.27% to Rs 42.35 crore (accounting for 29.18% of total
PBIT). PBIT margin of Power segment fell from 2.39% to 2.37%. PBIT
margin of Investment segment rose rom 6.86% to 14.33%. Overall PBIT
margin rose from 2.68% to 3.13%. Operating profit margin has jumped
from 8.72% to 8.25%, leading to 1.37% rise in operating profit to Rs 409.21
crore. Purchase of finished goods cost rose from 89.49% to 90.18%.
Employee cost increased from 0.32% to 0.37%. Other
expenses fell from 1.47% to 1.19%. Other direct service cost rose
from 0.26% to 0.52%. Provisions writeoffs cost fell from 0.88% to
0.37%. Other provisions fell from 0.88% to 0.37%. Other
income fell 85.81% to Rs 1.49 crore. PBIDT fell 0.84% to Rs 410.7
crore. Provision for interest fell 18.07% to Rs 202.82
crore. PBDT rose 24.76% to Rs 207.88 crore. Provision for
depreciation rose 0.52% to Rs 24.99 crore. Profit before tax grew
29% to Rs 182.89 crore. Share of profit/loss was 150% higher at Rs
0.05 crore. Provision for tax was expense of Rs 46.77 crore,
compared to Rs 41.73 crore. Effective tax rate was 25.57% compared
to 29.43%. Minority interest increased 71.72% to Rs 15.97 crore. Net
profit attributable to owners of the company increased 32.44% to Rs 120.20
crore.
Promoters’ stake was 16.22% as of 30
June 2021, compared to 16.22% as of 30 June 2020.
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PTC
India: Standalone Result
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Particulars
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2106
(3)
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2006
(3)
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Var.
(%)
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2103
(12)
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2003
(12)
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Var.
(%)
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Net
sales
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4621.23
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4262.38
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8
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16963.29
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16442.97
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3
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OPM(%)
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2.4
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2.2
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3.7
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2.7
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OP
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108.99
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94.22
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16
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627.69
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436.22
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44
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OI
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0.82
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3.52
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-77
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28.74
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45.33
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-37
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PBIDT
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109.81
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97.74
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12
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656.43
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481.55
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36
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Interest
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5.48
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5.88
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-7
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27.81
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55.04
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-49
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PBDT
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104.33
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91.86
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14
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628.62
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426.51
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47
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Depreciation
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0.75
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0.58
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29
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2.79
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2.85
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-2
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PBT
before EO
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103.58
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91.28
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13
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625.83
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423.66
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48
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EO
Income
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0.00
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0.00
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-60.26
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-1.13
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999
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PBT
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103.58
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91.28
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13
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565.57
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422.53
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34
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Tax
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26.71
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23.61
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13
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155.32
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102.42
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52
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PAT
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76.87
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67.67
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14
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410.25
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320.11
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28
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EPS(Rs)*
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#
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#
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15.3
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10.8
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*EPS on current equity of Rs 296.0083 crore;
Face Value of Rs 10
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Figures
in Rs crore
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#
business being seasonal EPS is not annualised
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Source:
Capitaline Corporate Databases
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| PTC India : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202106 | 202006 | Var.(%) | 202103 | 202003 | Var.(%) |
|---|
| Net Sales (including other operating income) | 4,958.50 | 4,630.78 | 7.08 | 18,345.50 | 18,100.81 | 1.35 | | OPM (%) | 8.25 | 8.72 | -46 bps | 9.23 | 10.07 | -84 bps | | OP | 409.21 | 403.69 | 1.37 | 1,692.49 | 1,822.33 | -7.12 | | Other Inc. | 1.49 | 10.50 | -85.81 | 28.16 | 22.76 | 23.73 | | PBIDT | 410.70 | 414.19 | -0.84 | 1,720.65 | 1,845.09 | -6.74 | | Interest | 202.82 | 247.56 | -18.07 | 921.35 | 1,155.29 | -20.25 | | PBDT | 207.88 | 166.63 | 24.76 | 799.30 | 689.80 | 15.87 | | Depreciation | 24.99 | 24.86 | 0.52 | 100.01 | 100.47 | -0.46 | | PBT | 182.89 | 141.77 | 29.00 | 699.29 | 589.33 | 18.66 | | Share of Profit/(Loss) from Associates | 0.05 | 0.02 | 150.00 | -0.08 | -0.04 | -100.00 | | PBT before EO | 182.94 | 141.79 | 29.02 | 699.21 | 589.29 | 18.65 | | EO Income | 0 | 0 | - | -20.65 | 0 | - | | PBT after EO | 182.94 | 141.79 | 29.02 | 678.56 | 589.29 | 15.15 | | Taxation | 46.77 | 41.73 | 12.08 | 220.94 | 183.23 | 20.58 | | PAT | 136.17 | 100.06 | 36.09 | 457.62 | 406.06 | 12.70 | | Minority Interest (MI) | 15.97 | 9.3 | 71.72 | 8.96 | 38.51 | -76.73 | | Net profit | 120.2 | 90.76 | 32.44 | 448.66 | 367.55 | 22.07 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 120.2 | 90.76 | 32.44 | 448.66 | 367.55 | 22.07 | | EPS (Rs)* | 4.06 | 3.07 | 32.44 | 15.62 | 12.42 | 25.78 | | | * EPS is on current equity of Rs 296.01 crore, Face value of Rs 10, 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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| PTC India : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202106 | 202006 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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| Sales | | Power | 93.63 | 4,343.48 | 5,064.88 | -14.24 | 92.52 | 16,761.22 | 16,761.22 | 0 | | Investment | 6.37 | 295.45 | 348.30 | -15.17 | 7.48 | 1,354.75 | 1,354.75 | 0 | | Total Reported Sales | 100.00 | 4,638.93 | 5,413.18 | -14.30 | 100.00 | 18,115.97 | 18,115.97 | 0 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 4,638.93 | 5,413.18 | -14.30 | 100.00 | 18,115.97 | 18,115.97 | 0 | | PBIT | | Power | 70.82 | 102.80 | 121.27 | -15.23 | 71.92 | 440.56 | 440.56 | 0 | | Investment | 29.18 | 42.35 | 23.89 | 77.27 | 28.08 | 172.03 | 172.03 | 0 | | Total PBIT | 100.00 | 145.15 | 145.16 | -0.01 | 100.00 | 612.59 | 612.59 | 0 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | -3.36 | -5.55 | -39.46 | | -23.30 | -23.30 | 0 | | PBIT Margin(%) | | Power | | 2.37 | 2.39 | -2.76 | | 2.63 | 2.63 | 0 | | Investment | | 14.33 | 6.86 | 747.50 | | 12.70 | 12.70 | 0 | | PBT | 100.00 | 141.79 | 139.61 | 1.56 | 100.00 | 589.29 | 589.29 | 0 |
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