Capitaline

Sales of Consultancy & Engineering Projects segment has gone up 1.29% to Rs 371.78 crore (accounting for 53.72% of total sales). Sales of Turnkey Projects segment has gone down 33.05% to Rs 320.33 crore (accounting for 46.28% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has slumped 2.57% to Rs 97.55 crore. PBIT of Consultancy & Engineering Projects segment fell 3.10% to Rs 90.70 crore (accounting for 92.98% of total PBIT). PBIT of Turnkey Projects segment rose 5.16% to Rs 6.84 crore (accounting for 7.02% of total PBIT).
PBIT margin of Consultancy & Engineering Projects segment fell from 25.50% to 24.40%. PBIT margin of Turnkey Projects segment rose from 1.36% to 2.14%. Overall PBIT margin rose from 11.84% to 14.09%.

Nine month performance

Consolidated net sales for nine month ended Dec 2021 has increased 4.11% to Rs 2094.98 crore. Sales of Consultancy Engineering Projects segment has gone up 10.58% to Rs 1,109.05 crore (accounting for 52.94% of total sales). Sales of Turnkey Projects segment has gone down 2.32% to Rs 985.93 crore (accounting for 47.06% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 30.53% to Rs 320.84 crore. PBIT of Consultancy Engineering Projects segment rose 28.20% to Rs 294.91 crore (accounting for 91.92% of total PBIT). PBIT of Turnkey Projects segment rose 64.53% to Rs 25.93 crore (accounting for 8.08% of total PBIT).

PBIT margin of Consultancy Engineering Projects segment rose from 22.94% to 26.59%. PBIT margin of Turnkey Projects segment rose from 1.56% to 2.63%. Overall PBIT margin rose from 12.22% to 15.31%.

Operating profit margin has jumped from 8.89% to 11.20%, leading to 31.19% rise in operating profit to Rs 234.60 crore. Employee cost increased from 32.51% to 33.44%. Other expenses fell from 58.60% to 55.36%. Selling and administration expenses rose from 11.08% to 11.33%. Construction development cost rose from 11.08% to 11.33%. Contract job process charges fell from 37.52% to 34.18%.

Other income fell 41.62% to Rs 86.94 crore. PBIDT fell 1.89% to Rs 321.54 crore. Provision for interest fell 42.75% to Rs 0.75 crore.

PBDT fell 1.73% to Rs 320.79 crore. Provision for depreciation rose 10.65% to Rs 18.28 crore.

Profit before tax down 2.39% to Rs 302.51 crore. Share of profit/loss was 2,543.56% lower at Rs -160.2 crore. Provision for tax was expense of Rs 81.92 crore, compared to Rs 79.88 crore. Effective tax rate was 57.56% compared to 26.29%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 73.04% to Rs 60.39 crore.

Other developments

The Board of Directors have declared an interim dividend of Rs 2/- per share (Face Value ( 5 per Share) for the financial year 2021-22 in their meeting held on 9th February 2022.

Promoters’ stake was 51.32% as of 31 December 2021 ,compared to 51.50% as of 31 December 2020 .

Quarter ended

Year to Date

Year ended

Particulars

202112

202012

Var.(%)

202112

202012

Var.(%)

202103

202003

Var.(%)

Net Sales (including other operating income)

692.11

845.49

-18.14

2,094.98

2,012.27

4.11

3,144.17

3,236.54

-2.85

OPM (%)

9.62

9.12

49 bps

11.20

8.89

231 bps

11.13

14.00

-288 bps

66.55

77.15

-13.74

234.60

178.82

31.19

349.85

453.22

-22.81

Other Inc.

38.90

48.81

-20.30

86.94

148.93

-41.62

188.78

255.54

-26.13

PBIDT

105.45

125.96

-16.28

321.54

327.75

-1.89

538.63

708.76

-24.00

Interest

0.24

0.41

-41.46

0.75

1.31

-42.75

3.69

1.74

112.07

PBDT

105.21

125.55

-16.20

320.79

326.44

-1.73

534.94

707.02

-24.34

Depreciation

7.95

5.15

54.37

18.28

16.52

10.65

23.65

-1.46

PBT

97.26

120.40

-19.22

302.51

309.92

-2.39

511.29

683.02

-25.14

Share of Profit/(Loss) from Associates

-30.82

-2.25

-1,269.78

-160.2

-6.06

-2,543.56

-12.55

-10.04

-25.00

PBT before EO

66.44

118.15

-43.77

142.31

303.86

-53.17

498.74

672.98

-25.89

EO Income

-154.96

PBT after EO

66.44

118.15

-43.77

142.31

303.86

-53.17

343.78

672.98

-48.92

Taxation

25.77

30.08

-14.33

81.92

79.88

2.55

94.87

249.16

-61.92

PAT

40.67

88.07

-53.82

60.39

223.98

-73.04

248.91

423.82

-41.27

Minority Interest (MI)

Net profit

40.67

88.07

-53.82

60.39

223.98

-73.04

248.91

423.82

-41.27

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

40.67

88.07

-53.82

60.39

223.98

-73.04

248.91

423.82

-41.27

EPS (Rs)*

0.72

1.57

-53.82

1.07

3.99

-73.04

6.45

7.54

-14.44

* EPS is on current equity of Rs 281.02 crore, Face value of Rs 5, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202112

202012

Var.(%)

% of (Total)

202112

202012

Var.(%)

% of (Total)

202103

202003

Var.(%)

Sales

Consultancy & Engineering Projects

53.72

371.78

367.04

1.29

52.94

1,109.05

1,002.93

10.58

45.25

1,422.80

1,598.80

-11.01

Turnkey Projects

46.28

320.33

478.45

-33.05

47.06

985.93

1,009.34

-2.32

54.75

1,721.37

1,637.74

5.11

Total Reported Sales

100.00

692.11

845.49

-18.14

100.00

2,094.98

2,012.27

4.11

100.00

3,144.17

3,236.54

-2.85

Less: Inter segment revenues

0.00

Net Sales

100.00

692.11

845.49

-18.14

100.00

2,094.98

2,012.27

4.11

100.00

3,144.17

3,236.54

-2.85

PBIT

Consultancy & Engineering Projects

92.98

90.70

93.61

-3.10

91.92

294.91

230.04

28.20

87.59

393.91

510.64

-22.86

Turnkey Projects

7.02

6.84

6.51

5.16

8.08

25.93

15.76

64.53

12.41

55.81

65.45

-14.73

Total PBIT

100.00

97.55

100.11

-2.57

100.00

320.84

245.80

30.53

100.00

449.71

576.09

-21.94

Less : Interest

0.24

0.41

-42.78

0.75

1.31

-42.72

3.69

1.74

111.51

Add: Other un-allcoable

-0.05

20.69

-17.57

65.44

-89.70

108.67

PBIT Margin(%)

Consultancy & Engineering Projects

24.40

25.50

-110.68

26.59

22.94

365.43

27.69

31.94

-425.37

Turnkey Projects

2.14

1.36

77.63

2.63

1.56

106.85

3.24

4.00

-75.44

PBT

100.00

97.26

120.40

-19.22

100.00

302.51

309.93

-2.39

100.00

356.32

683.02

-47.83