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Results
13-Nov-21
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Analysis
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Power Mech Projects
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Sales up 56%
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Consolidated net sales (including other operating income) of Power Mech
Projects has increased 56.15% to Rs 539.33 crore with execution picks up
momentum on an empirically a weak quarter. Operating profit margin
(OPM) has turned from negative 12.3% to positive 10.7%, Operating profit for
the quarter stood at Rs 57.78 crore compared to loss of Rs 42.65
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 13.72% to 14.07%. Employee cost
decreased from 22.16% to 17.19%. Other expenses fell from 76.40% to
58.07%. Selling and administration expenses fell from 74.69% to
56.97%. Construction development cost fell from 74.69% to 56.97%.
Other income rose 129.63% to Rs 4.96 crore. PBIDT stood
at Rs 62.74 crore compared to loss of Rs 40.49 crore. Provision for
interest fell 11.54% to Rs 16.87 crore. PBDT stood at Rs 45.87 crore
compared to loss of Rs 59.56 crore. Provision for depreciation rose
6.54% to Rs 9.29 crore. Profit before tax reported profit of Rs
36.58 crore compared to loss of Rs 68.28 crore. Provision for tax was
debit of Rs 7.6 crore, compared to credit of Rs 15.37
crore. Effective tax rate was 21.93% compared to 21.81%. PAT was Rs
28.98 crore against a loss of Rs 52.91 crore. Share of profit/loss
was 12.27% higher at Rs -1.93 crore. Minority interest increased 99.09% to
Rs -0.03 crore. Thus the net profit after MI was a profit of Rs
27.08 crore agains a loss of Rs 51.80 crore.
Half Yearly performance
Net sales (including other operating income) of Power Mech Projects has
increased 87.33% to Rs 1162.18 crore. Operating profit margin (OPM)
has turned from negative 9.11% to positive 10.65%, Operating profit for the
quarter stood at Rs 123.81 crore compared to loss of Rs 56.51
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 13.61% to 12.78%. Employee cost
decreased from 23.38% to 16.15%. Other expenses fell from 72.05% to
60.44%. Selling and administration expenses fell from 69.95% to
59.38%. Construction development cost fell from 69.95% to 59.38%.
Other income rose 153.62% to Rs 10.17 crore. PBIDT stood
at Rs 133.98 crore compared to loss of Rs 52.5 crore. Provision for
interest fell 7.23% to Rs 36.06 crore. PBDT stood at Rs 97.92
crore compared to loss of Rs 91.37 crore. Provision for depreciation
rose 2.18% to Rs 18.31 crore. Profit before tax reported profit of
Rs 79.61 crore compared to loss of Rs 109.29 crore. Provision
for tax was debit of Rs 17.88 crore, compared to credit of Rs 26.38
crore. Effective tax rate was 23.41% compared to 23.10%. Thus PAT
was a profit of RS 61.73 crore against a loss of Rs 82.91 crore. Share of
profit/loss was 33.95% higher at Rs -3.23 crore. Minority interest
increased 99.41% to Rs -0.02 crore. Netprofit after MI was a profit
of Rs 58.52 crore against a loss of RS 84.39 crore.
Other developments
Equity capital stood at Rs 14.71 crore
as of 30 September 2021 to Rs 14.71 crore as of 30 September
2020. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 63.70% as of 30
September 2021 ,compared to 62.58% as of 30 September 2020 .
Loan funds rose to Rs 565.16 crore as
of 30 September 2021 from Rs 537.29 crore as of 30 September 2020. Inventories
declined from Rs 126.25 crore as of 30 September 2020 to Rs 121.87 crore as of
30 September 2021. Sundry debtors were higher at Rs 484.38 crore as
of 30 September 2021 compared to Rs 432.14 crore as of 30 September 2020. Cash
and bank balance declined from Rs 116.87 crore as of 30 September 2020 to Rs
74.36 crore as of 30 September 2021. Investments rose to Rs 40.94
crore as of 30 September 2021 from Rs 28.26 crore as of 30 September 2020
. Fixed assets increased to Rs 173.37 crore as of 30 September 2021
from Rs 172.42 crore as of 30 September 2020. Intangible assets
declined from Rs 2.59 crore to Rs 2.52 crore.
Power
Mech Projects: Consolidated Results
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2109
(3)
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2009
(3)
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Var.
(%)
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2109
(6)
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2009
(6)
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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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Sales
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539.33
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345.39
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56
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1162.18
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620.40
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87
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1884.09
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2164.68
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-13
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OPM (%)
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10.7
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-12.3
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10.7
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-9.1
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2.2
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12.5
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OP
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57.78
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-42.65
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LP
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123.81
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-56.51
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LP
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41.88
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270.75
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-85
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Other
inc.
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4.96
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2.16
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130
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10.17
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4.01
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154
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16.34
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9.34
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75
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PBIDT
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62.74
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-40.49
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LP
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133.98
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-52.50
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LP
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58.21
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280.09
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-79
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Interest
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16.87
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19.07
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-11
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36.06
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38.87
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-7
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79.25
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74.06
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7
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PBDT
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45.87
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-59.55
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LP
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97.92
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-91.36
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LP
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-21.04
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206.03
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-110
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Dep.
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9.29
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8.72
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7
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18.31
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17.92
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2
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35.77
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39.42
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-9
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PBT
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36.58
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-68.28
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LP
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79.61
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-109.29
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LP
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-56.80
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166.61
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PL
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Taxation
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7.60
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-15.37
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PL
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17.88
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-26.38
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PL
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-11.33
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37.48
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LP
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PAT
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28.98
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-52.91
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LP
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61.73
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-82.91
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LP
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-45.47
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129.13
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PL
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Share
of Profit/(Loss) from Associates
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-1.93
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-2.20
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-12
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-3.23
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-4.89
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-34
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-3.09
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1.57
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PL
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Minority
Interest (MI)
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-0.03
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-3.31
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-99
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-0.02
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-3.41
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-100
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-2.97
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-0.58
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415
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Net
profit
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27.08
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-51.80
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LP
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58.52
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-84.39
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LP
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-45.59
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131.28
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PL
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EPS
(Rs)*
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#
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#
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#
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#
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-31.0
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89.2
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* EPS
is on current equity of Rs 14.711 crore, Face value of Rs 10
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# EPS
is not annualised due to seasonality of business
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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