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Results
21-Nov-21
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Analysis
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PTC India
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Sales down 9% Pat down 32%
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Standalone net sales (including other operating income) of PTC India has
declined 8.90% to Rs 5,124.00 crore. Fall in revenue was largely due
to lower per unit realisation due to mix as the volume for the quarter was up
by 6% to 27792 million units. Operating profit margin has declined from 3.57%
to 3.13%, leading to 20.18% decline in operating profit to Rs 160.33
crore. Purchase of finished goods cost fell from 95.80% to 95.54%.
Employee cost increased from 0.18% to 0.26%. Other
expenses rose from 0.45% to 1.07%. Other direct service cost rose
from 0.24% to 0.79%. Other income fell 95.73% to Rs 0.92
crore. PBIDT fell 27.50% to Rs 161.25 crore. Provision
for interest up 74.81% to Rs 9.3 crore. PBDT fell 30% to Rs 151.95
crore. Provision for depreciation rose 28.99% to Rs 0.89
crore. Profit before tax down 30.19% to Rs 151.06
crore. Provision for tax was expense of Rs 38.3 crore, compared to
Rs 50.2 crore. Effective tax rate was 25.35% compared to 23.20%. Profit
after tax fell 32.15% to Rs 112.76 crore.
Consolidated net sales (including other operating income) of PTC India for
the quarter ended Sep 2021 has declined 8.86% to Rs 5472.83
crore. Sales of Power segment has gone down 8.46% to Rs 5,235.05
crore (accounting for 95.65% of total sales). Sales of Investment
segment has gone down 17.50% to Rs 238.19 crore (accounting for 4.35% of total
sales). Profit before interest, tax and other unallocable items
(PBIT) has slumped 0.28% to Rs 266.68 crore. PBIT of Power segment
fell 12.21% to Rs 198.20 crore (accounting for 74.32% of total
PBIT). PBIT of Investment segment rose 64.34% to Rs 68.48 crore
(accounting for 25.68% of total PBIT). PBIT margin of Power segment
fell from 3.95% to 3.79%. PBIT margin of Investment segment rose
from 14.43% to 28.75%. Overall PBIT margin rose from 4.45% to 4.87%. Operating
profit margin has declined from 8.62% to 8.62%, leading to 8.88% decline in
operating profit to Rs 471.74 crore. Purchase of finished goods cost
fell from 89.73% to 89.45%. Employee cost increased from 0.25% to
0.35%. Other expenses rose from 1.40% to 1.58%. Other
direct service cost rose from 0.36% to 0.91%. Provisions write-offs
cost fell from 0.68% to 0.31%. Other provisions fell from 0.68% to
0.31%. Other income fell 77.66% to Rs 1.51 crore. PBIDT
fell 9.76% to Rs 473.25 crore. Provision for interest fell 20.17% to
Rs 186.45 crore. PBDT fell 1.41% to Rs 286.8
crore. Provision for depreciation rose 1.12% to Rs 25.29
crore. Profit before tax down 1.65% to Rs 261.51
crore. Share of profit/loss was 97.14% higher at Rs -0.01
crore. Provision for tax was expense of Rs 66.02 crore, compared to
Rs 71.9 crore. Effective tax rate was 25.25% compared to 27.08%. Minority
interest increased 64.75% to Rs 18.37 crore. Net profit attributable
to owners of the company decreased 2.95% to Rs 177.11 crore.
Half-yearly performance
Standalone net sales (including other
operating income) for the half-year ended Sep 2021 has declined 1.43% to Rs
9,745.23 crore. Operating profit margin has declined from 2.98% to
2.76%, leading to 8.73% decline in operating profit to Rs 269.32
crore. Purchase of finished goods cost fell from 96.41% to 96.12%.
Employee cost increased from 0.21% to 0.27%. Other
expenses rose from 0.39% to 0.84%. Other direct service cost rose
from 0.17% to 0.58%. Other income fell 93.05% to Rs 1.74
crore. PBIDT fell 15.33% to Rs 271.06 crore. Provision
for interest up 31.96% to Rs 14.78 crore. PBDT fell 17.05% to Rs
256.28 crore. Provision for depreciation rose 29.13% to Rs 1.64
crore. Profit before tax down 17.24% to Rs 254.64 crore. Provision
for tax was expense of Rs 65.01 crore, compared to Rs 73.81
crore. Effective tax rate was 25.53% compared to 23.99%. Profit
after tax fell 18.91% to Rs 189.63 crore.
Consolidated net sales of PTC India for the half year ended Sep 2021 has
declined 1.92% to Rs 10431.33 crore. Sales of Power segment has gone down
1.18% to Rs 9,944.12 crore (accounting for 95.33% of total
sales). Sales of Investment segment has gone down 15.69% to Rs
487.62 crore (accounting for 4.67% of total sales). Profit before
interest, tax and other unallocable items (PBIT) has jumped 11.63% to Rs 454.07
crore. PBIT of Power segment fell 0.57% to Rs 326.69 crore
(accounting for 71.95% of total PBIT). PBIT of Investment segment
rose 62.87% to Rs 127.38 crore (accounting for 28.05% of total
PBIT). PBIT margin of Power segment rose from 3.27% to
3.29%. PBIT margin of Investment segment rose from 13.52% to
26.12%. Overall PBIT margin rose from 3.82% to 4.35%. Operating
profit margin has declined from 8.66% to 8.45%, leading to 4.39% decline in
operating profit to Rs 880.95 crore. Purchase of finished goods cost
rose from 89.63% to 89.80%. Employee cost increased from 0.28% to
0.36%. Other expenses fell from 1.43% to 1.39%. Other
direct service cost rose from 0.32% to 0.72%. Provisions write-offs
cost fell from 0.77% to 0.34%. Other provisions fell from 0.77% to
0.34%. Other income fell 82.62% to Rs 3 crore. PBIDT
fell 5.83% to Rs 883.95 crore. Provision for interest fell 19.09% to
Rs 389.27 crore. PBDT rose 8.12% to Rs 494.68 crore. Provision
for depreciation rose 0.82% to Rs 50.28 crore. Profit before tax
grew 9.01% to Rs 444.40 crore. Provision for tax was expense of Rs
112.79 crore, compared to Rs 113.63 crore. Effective tax rate was
25.38% compared to 27.90%. Minority interest increased 67.92% to Rs 34.34
crore. Net profit attributable to owners of the company increased
8.81% to Rs 297.31 crore.
Other developments
Equity capital stood at Rs 296.01 crore
as of 30 September 2021 to Rs 296.01 crore as of 30 September
2020. Per share face Value remained same at Rs 10.00. Promoters’
stake was 16.22% as of 30 September 2021, compared to 16.22% as of 30 September
2020.
Standalone loan funds rose to Rs 867.00
crore as of 30 September 2021 from Rs 559.15 crore as of 30 September
2020. Sundry debtors were lower at Rs 7,864.17 crore as of 30
September 2021 compared to Rs 8,049.18 crore as of 30 September
2020. Cash and bank balance rose to Rs 817.15 crore as of 30
September 2021 from Rs 814.61 crore as of 30 September
2020. Investments declined from Rs 1,617.07 crore as of 30 September
2020 to Rs 1,567.36 crore as of 30 September 2021. Fixed assets
increased to Rs 21.13 crore as of 30 September 2021 from Rs 19.37 crore as of
30 September 2020. Intangible assets increased from Rs 0.77 crore to
Rs 1.35 crore.
Consolidated loan funds declined from
Rs 9,524.78 crore as of 30 September 2020 to Rs 9,431.21 crore as of 30
September 2021. Sundry debtors were lower at Rs 8,347.10 crore as of
30 September 2021 compared to Rs 8,387.72 crore as of 30 September 2020. Cash
and bank balance rose to Rs 1,287.24 crore as of 30 September 2021 from Rs
1,263.73 crore as of 30 September 2020. Investments declined from Rs
568.04 crore as of 30 September 2020 to Rs 556.29 crore as of 30 September
2021. Fixed assets declined from Rs 1,834.01 crore as of 30
September 2020 to Rs 1,740.04 crore as of 30 September
2021. Intangible assets increased from Rs 0.78 crore to Rs 1.48
crore.
Cash flow from operating activities
increased to Rs 1,905.34 crore for YTD ended September 2021 from Rs 1,427.76
crore for YTD ended September 2020. Cash flow used in acquiring
fixed assets during the YTD ended September 2021 stood at Rs 2.50 crore,
compared to Rs 0.96 crore during the YTD ended September 2020.
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PTC
India: Standalone Result
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Particulars
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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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Net
sales
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5124.00
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5624.50
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-9
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9745.23
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9886.88
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-1
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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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3.1
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3.6
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2.8
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3.0
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3.7
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2.7
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OP
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160.33
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200.87
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-20
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269.32
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295.09
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-9
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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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0.92
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21.53
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-96
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1.74
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25.05
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-93
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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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161.25
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222.40
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-27
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271.06
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320.14
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-15
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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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9.30
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5.32
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75
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14.78
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11.20
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32
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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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151.95
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217.08
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-30
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256.28
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308.94
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-17
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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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0.89
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0.69
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29
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1.64
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1.27
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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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151.06
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216.39
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-30
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254.64
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307.67
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-17
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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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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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151.06
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216.39
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-30
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254.64
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307.67
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-17
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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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38.30
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50.20
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-24
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65.01
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73.81
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-12
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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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112.76
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166.19
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-32
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189.63
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233.86
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-19
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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 to Date | Year ended |
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| Particulars | 202109 | 202009 | Var.(%) | 202109 | 202009 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 5,472.83 | 6,004.63 | -8.86 | 10,431.33 | 10,635.41 | -1.92 | 18,345.50 | 18,100.81 | 1.35 | | OPM (%) | 8.62 | 8.62 | 0 bps | 8.45 | 8.66 | -22 bps | 9.23 | 10.07 | -84 bps | | OP | 471.74 | 517.69 | -8.88 | 880.95 | 921.38 | -4.39 | 1,692.49 | 1,822.33 | -7.12 | | Other Inc. | 1.51 | 6.76 | -77.66 | 3.00 | 17.26 | -82.62 | 28.16 | 22.76 | 23.73 | | PBIDT | 473.25 | 524.45 | -9.76 | 883.95 | 938.64 | -5.83 | 1,720.65 | 1,845.09 | -6.74 | | Interest | 186.45 | 233.55 | -20.17 | 389.27 | 481.11 | -19.09 | 921.35 | 1,155.29 | -20.25 | | PBDT | 286.80 | 290.90 | -1.41 | 494.68 | 457.53 | 8.12 | 799.30 | 689.80 | 15.87 | | Depreciation | 25.29 | 25.01 | 1.12 | 50.28 | 49.87 | 0.82 | 100.01 | 100.47 | -0.46 | | PBT | 261.51 | 265.89 | -1.65 | 444.4 | 407.66 | 9.01 | 699.29 | 589.33 | 18.66 | | Share of Profit/(Loss) from Associates | -0.01 | -0.35 | 97.14 | 0.04 | -0.33 | LP | -0.08 | -0.04 | -100.00 | | PBT before EO | 261.5 | 265.54 | -1.52 | 444.44 | 407.33 | 9.11 | 699.21 | 589.29 | 18.65 | | EO Income | 0 | 0 | - | 0 | 0 | - | -20.65 | 0 | - | | PBT after EO | 261.5 | 265.54 | -1.52 | 444.44 | 407.33 | 9.11 | 678.56 | 589.29 | 15.15 | | Taxation | 66.02 | 71.9 | -8.18 | 112.79 | 113.63 | -0.74 | 220.94 | 183.23 | 20.58 | | PAT | 195.48 | 193.64 | 0.95 | 331.65 | 293.7 | 12.92 | 457.62 | 406.06 | 12.70 | | Minority Interest (MI) | 18.37 | 11.15 | 64.75 | 34.34 | 20.45 | 67.92 | 8.96 | 38.51 | -76.73 | | Net profit | 177.11 | 182.49 | -2.95 | 297.31 | 273.25 | 8.81 | 448.66 | 367.55 | 22.07 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 177.11 | 182.49 | -2.95 | 297.31 | 273.25 | 8.81 | 448.66 | 367.55 | 22.07 | | EPS (Rs)* | 5.98 | 6.17 | -2.95 | 10.04 | 9.23 | 8.81 | 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 | td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202109 | 202009 | Var.(%) | % of (Total) | 202109 | 202009 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
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| Sales | | Power | 95.65 | 5,235.05 | 5,719.02 | -8.46 | 95.33 | 9,944.12 | 10,062.50 | -1.18 | 93.94 | 17,247.10 | 16,761.22 | 2.90 | | Investment | 4.35 | 238.19 | 288.73 | -17.50 | 4.67 | 487.62 | 578.37 | -15.69 | 6.06 | 1,112.43 | 1,354.75 | -17.89 | | Total Reported Sales | 100.00 | 5,473.24 | 6,007.75 | -8.90 | 100.00 | 10,431.74 | 10,640.87 | -1.97 | 100.00 | 18,359.53 | 18,115.97 | 1.34 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 5,473.24 | 6,007.75 | -8.90 | 100.00 | 10,431.74 | 10,640.87 | -1.97 | 100.00 | 18,359.53 | 18,115.97 | 1.34 | | PBIT | | Power | 74.32 | 198.20 | 225.76 | -12.21 | 71.95 | 326.69 | 328.56 | -0.57 | 87.50 | 622.81 | 440.56 | 41.37 | | Investment | 25.68 | 68.48 | 41.67 | 64.34 | 28.05 | 127.38 | 78.21 | 62.87 | 12.50 | 88.99 | 172.03 | -48.27 | | Total PBIT | 100.00 | 266.68 | 267.43 | -0.28 | 100.00 | 454.07 | 406.77 | 11.63 | 100.00 | 711.80 | 612.59 | 16.20 | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | -5.18 | -1.89 | 174.07 | | -9.63 | 0.56 | PL | | -33.24 | -23.30 | 42.66 | | PBIT Margin(%) | | Power | | 3.79 | 3.95 | -16.15 | | 3.29 | 3.27 | 2.01 | | 3.61 | 2.63 | 98.27 | | Investment | | 28.75 | 14.43 | 1,431.80 | | 26.12 | 13.52 | 1,260.03 | | 8.00 | 12.70 | -469.87 | | PBT | 100.00 | 261.50 | 265.54 | -1.52 | 100.00 | 444.44 | 407.33 | 9.11 | 100.00 | 678.56 | 589.29 | 15.15 |
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