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Results
11-May-22
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Analysis
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KEI Industries
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Sales up 43%, net up 35%
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Standalone net sales (including other operating income) of KEI
Industries for the quarter ended Mar 2022 has increased 43.76% to Rs 1,791.71
crore. Operating profit margin has declined from 11.03% to 9.59%,
leading to 25.08% rise in operating profit to Rs 171.89 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
70.37% to 75.62%. Purchase of finished goods cost rose from 0.02%
to 0.03%. Employee cost decreased from 3.44% to 2.81%.
Other expenses fell from 15.36% to 11.88%. Contract job
process charges fell from 4.40% to 1.99%. Other income up 212.80%
to Rs 7.82 crore. PBIDT rose 28.44% to Rs 179.71
crore. Provision for interest fell 19.79% to Rs 10.05 crore. PBDT rose 33.18% to Rs 169.66
crore. Provision for depreciation down 4.48% to Rs 13.86
crore. Profit before tax grew 38.02% to Rs 155.80
crore. Provision for tax was expense of Rs 39.92 crore, compared to
Rs 26.77 crore. Effective tax rate was 25.62% compared to 23.72%. Profit after tax rose 34.57% to Rs 115.88
crore.
Sales of Segment - Cables segment has gone up 51.89% to Rs 1,621.36
crore (accounting for 85.34% of total sales). Sales of Segment -
Stainless Steel Wire segment has gone up 32.55% to Rs 61.19 crore (accounting
for 3.22% of total sales). Sales of Segment-EPC Projects segment has
gone down 16.29% to Rs 217.44 crore (accounting for 11.44% of total
sales). Inter-segment sales came down from Rs 127.06 crore to Rs
108.27 crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 31.64% to Rs 159.53 crore. PBIT of Segment - Cables segment
rose 31.31% to Rs 131.26 crore (accounting for 82.28% of total
PBIT). PBIT of Segment - Stainless Steel Wire segment rose 244.05%
to Rs 3.38 crore (accounting for 2.12% of total PBIT). PBIT of
Segment-EPC Projects segment rose 22.94% to Rs 24.89 crore (accounting for
15.60% of total PBIT).
PBIT margin of Segment - Cables segment fell from 9.36% to
8.10%. PBIT margin of Segment - Stainless Steel Wire segment rose
from 2.13% to 5.53%. PBIT margin of Segment-EPC Projects segment
rose from 7.79% to 11.45%. Overall PBIT margin fell from 8.82% to
8.40%. Consolidated net sales has increased
43.76% to Rs 1791.71 crore. Operating profit margin has declined
from 11.02% to 9.60%, leading to 25.18% rise in operating profit to Rs 171.99
crore. Other income rose 212.80% to Rs 7.82 crore. PBIDT
rose 28.54% to Rs 179.81 crore. Provision for interest fell 19.79%
to Rs 10.05 crore. PBDT rose 33.29% to Rs 169.76
crore. Provision for depreciation fell 4.48% to Rs 13.86
crore. Profit before tax grew 38.15% to Rs 155.90
crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 39.92 crore, compared
to Rs 26.77 crore. Effective tax rate was 25.61% compared to 23.70%. Net profit after MI was up 35% to Rs 115.98
crore.Yearly performance Net sales (including other operating
income) of KEI Industries for the fiscal ended Mar 2022 has increased 36.95% to
Rs 5,726.55 crore. Operating profit margin has declined from 10.89%
to 10.28%, leading to 29.25% rise in operating profit to Rs 588.68
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 68.60% to 75.00%. Purchase of finished
goods cost fell from 0.26% to 0.01%. Employee cost decreased from
4.55% to 3.32%. Other expenses fell from 15.40% to 11.95%.
Contract job process charges fell from 3.67% to 2.12%. Other
income fell 25.77% to Rs 14.89 crore. PBIDT rose 26.93% to Rs 603.57
crore. Provision for interest fell 29.52% to Rs 40.39
crore. PBDT rose 34.66% to Rs 563.18 crore. Provision for
depreciation down 4.08% to Rs 55.45 crore. Profit before tax grew
40.88% to Rs 507.73 crore. Provision for tax was expense of Rs
131.51 crore, compared to Rs 90.86 crore. Effective tax rate was
25.90% compared to 25.21%. Profit after tax rose 39.57% to Rs 376.22
crore.
Sales of Segment - Cables segment has gone up 43.32% to Rs 5,122.68
crore (accounting for 82.33% of total sales). Sales of Segment -
Stainless Steel Wire segment has gone up 59.50% to Rs 225.94 crore (accounting
for 3.63% of total sales). Sales of Segment-EPC Projects segment has
gone down 10.57% to Rs 873.49 crore (accounting for 14.04% of total
sales). Inter-segment sales came down from Rs 511.08 crore to Rs
495.56 crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 14.43% to Rs 582.03 crore. PBIT of Segment - Cables segment
rose 18.78% to Rs 486.42 crore (accounting for 83.57% of total
PBIT). PBIT of Segment - Stainless Steel Wire segment rose 62.60% to
Rs 13.63 crore (accounting for 2.34% of total PBIT). PBIT of
Segment-EPC Projects segment fell 9.65% to Rs 81.98 crore (accounting for
14.09% of total PBIT).
PBIT margin of Segment - Cables segment fell from 11.46% to
9.50%. PBIT margin of Segment - Stainless Steel Wire segment rose
from 5.92% to 6.03%. PBIT margin of Segment-EPC Projects segment
rose from 9.29% to 9.39%. Overall PBIT margin fell from 10.84% to
9.35%. Consolidated Net sales has increased
36.95% to Rs 5726.55 crore. Operating profit margin has declined from
10.89% to 10.28%, leading to 29.26% rise in operating profit to Rs 588.72
crore. Other income fell 27.22% to Rs 14.6 crore. PBIDT
rose 26.87% to Rs 603.32 crore. Provision for interest fell 29.52%
to Rs 40.39 crore. PBDT rose 34.60% to Rs 562.93
crore. Provision for depreciation fell 4.08% to Rs 55.45 crore. Profit
before tax grew 40.81% to Rs 507.48 crore. Share of profit/loss was
60% lower at Rs 0.04 crore. Provision for tax was expense of Rs
131.51 crore, compared to Rs 90.86 crore. Effective tax rate was
25.91% compared to 25.20%. Net profit attributable to owners of the company
increased 39.50% to Rs 376.02 crore. Other developmentsPending order as end of Mar 2022 was approx
Rs 2,419 Crore. Equity capital increased from Rs 17.97
crore as of 31 March 2021 to Rs 18.02 crore as of 31 March 2022. Per
share face Value remained same at Rs 2.00. Promoters’ stake was 38.02% as of 31 March
2022 ,compared to 40.34% as of 31 March 2021 . Standalone Loan funds rose to Rs 355.39
crore as of 31 March 2022 from Rs 332.60 crore as of 31 March
2021. Inventories rose to Rs 1,079.41 crore as of 31 March 2022 from
Rs 762.75 crore as of 31 March 2021. Sundry debtors were higher at
Rs 1,395.53 crore as of 31 March 2022 compared to Rs 1,349.57 crore as of 31
March 2021. Cash and bank balance rose to Rs 360.03 crore as of 31
March 2022 from Rs 221.21 crore as of 31 March 2021. Investments
rose to Rs 2.01 crore as of 31 March 2022 from Rs 0.91 crore as of 31 March
2021. Fixed assets increased to Rs 545.35 crore as of 31 March 2022
from Rs 542.46 crore as of 31 March 2021. Intangible assets
increased from Rs 1.79 crore to Rs 2.07 crore. Standalone cash flow from operating
activities increased to Rs 228.63 crore for year ended March 2022 from Rs
153.94 crore for year ended March 2021. Cash flow used in acquiring
fixed assets during the year ended March 2022 stood at Rs 59.73 crore, compared
to Rs 24.00 crore during the year ended March 2021.
Consolidated Loan funds rose to Rs 334.71 crore as of 31 March 2022 from
Rs 308.78 crore as of 31 March 2021. Inventories rose to Rs 1,079.41
crore as of 31 March 2022 from Rs 762.75 crore as of 31 March 2021. Sundry
debtors were higher at Rs 1,395.53 crore as of 31 March 2022 compared to Rs
1,349.57 crore as of 31 March 2021. Cash and bank balance rose to Rs
360.04 crore as of 31 March 2022 from Rs 221.24 crore as of 31 March 2021. Investments
rose to Rs 2.02 crore as of 31 March 2022 from Rs 1.17 crore as of 31 March
2021 . Fixed assets increased to Rs 545.35 crore as of 31 March 2022
from Rs 542.46 crore as of 31 March 2021. Intangible assets
increased from Rs 1.79 crore to Rs 2.07 crore. | KEI Industries : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,791.71 | 1,246.30 | 43.76 | 5,726.55 | 4,181.54 | 36.95 | | OPM (%) | 9.60 | 11.02 | -142 bps | 10.28 | 10.89 | -61 bps | | OP | 171.99 | 137.39 | 25.18 | 588.72 | 455.47 | 29.26 | | Other Inc. | 7.82 | 2.50 | 212.80 | 14.60 | 20.06 | -27.22 | | PBIDT | 179.81 | 139.89 | 28.54 | 603.32 | 475.53 | 26.87 | | Interest | 10.05 | 12.53 | -19.79 | 40.39 | 57.31 | -29.52 | | PBDT | 169.76 | 127.36 | 33.29 | 562.93 | 418.22 | 34.60 | | Depreciation | 13.86 | 14.51 | -4.48 | 55.45 | 57.81 | -4.08 | | PBT | 155.90 | 112.85 | 38.15 | 507.48 | 360.41 | 40.81 | | Share of Profit/(Loss) from Associates | 0 | 0.1 | - | 0.04 | 0.1 | -60.00 | | PBT before EO | 155.9 | 112.95 | 38.03 | 507.52 | 360.51 | 40.78 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 155.9 | 112.95 | 38.03 | 507.52 | 360.51 | 40.78 | | Taxation | 39.92 | 26.77 | 49.12 | 131.51 | 90.86 | 44.74 | | PAT | 115.98 | 86.18 | 34.58 | 376.01 | 269.65 | 39.44 | | Minority Interest (MI) | 0 | -0.01 | - | -0.01 | 0.1 | LP | | Net profit | 115.98 | 86.19 | 34.56 | 376.02 | 269.55 | 39.50 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 115.98 | 86.19 | 34.56 | 376.02 | 269.55 | 39.50 | | EPS (Rs)* | 12.87 | 9.57 | 34.56 | 41.73 | 29.92 | 39.50 | | | * EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, 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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| KEI Industries : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Segment-Cables | 85.34 | 1,621.36 | 1,067.45 | 51.89 | 82.33 | 5,122.68 | 3,574.26 | 43.32 | | Segment-Stainees Steel Wire | 3.22 | 61.19 | 46.16 | 32.55 | 3.63 | 225.94 | 141.65 | 59.50 | | Segment-EPC projects | 11.44 | 217.44 | 259.75 | -16.29 | 14.04 | 873.49 | 976.70 | -10.57 | | Total Reported Sales | 100.00 | 1,899.99 | 1,373.36 | 38.35 | 100.00 | 6,222.11 | 4,692.61 | 32.59 | | Less: Inter segment revenues | | 108.27 | 127.06 | -14.78 | | 495.56 | 511.08 | -3.04 | | Net Sales | 100.00 | 1,791.71 | 1,246.30 | 43.76 | 100.00 | 5,726.55 | 4,181.54 | 36.95 | | PBIT | | Segment-Cables | 82.28 | 131.25 | 99.88 | 31.41 | 83.57 | 486.36 | 409.47 | 18.78 | | Segment-Stainees Steel Wire | 2.12 | 3.38 | 0.98 | 244.05 | 2.34 | 13.63 | 8.39 | 62.60 | | Segment-EPC projects | 15.60 | 24.89 | 20.25 | 22.94 | 14.09 | 81.98 | 90.74 | -9.65 | | Total PBIT | 100.00 | 159.52 | 121.10 | 31.72 | 100.00 | 581.97 | 508.59 | 14.43 | | Less : Interest | | 10.05 | 12.53 | -19.77 | | 40.39 | 57.31 | -29.52 | | Add: Other un-allcoable | | 6.43 | 4.37 | 47.15 | | -34.05 | -90.78 | 62.49 | | PBIT Margin(%) | | Segment-Cables | | 8.09 | 9.36 | -126.17 | | 9.49 | 11.46 | -196.19 | | Segment-Stainees Steel Wire | | 5.53 | 2.13 | 339.79 | | 6.03 | 5.92 | 11.50 | | Segment-EPC projects | | 11.45 | 7.79 | 365.21 | | 9.39 | 9.29 | 9.50 | | PBT | 100.00 | 155.90 | 112.95 | 38.03 | 100.00 | 507.53 | 360.51 | 40.78 |
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| KEI Industries : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,791.71 | 1,246.31 | 43.76 | 5,726.55 | 4,181.49 | 36.95 | | OPM (%) | 9.59 | 11.03 | -143 bps | 10.28 | 10.89 | -61 bps | | OP | 171.89 | 137.42 | 25.08 | 588.68 | 455.47 | 29.25 | | Other Inc. | 7.82 | 2.50 | 212.80 | 14.89 | 20.06 | -25.77 | | PBIDT | 179.71 | 139.92 | 28.44 | 603.57 | 475.53 | 26.93 | | Interest | 10.05 | 12.53 | -19.79 | 40.39 | 57.31 | -29.52 | | PBDT | 169.66 | 127.39 | 33.18 | 563.18 | 418.22 | 34.66 | | Depreciation | 13.86 | 14.51 | -4.48 | 55.45 | 57.81 | -4.08 | | PBT | 155.80 | 112.88 | 38.02 | 507.73 | 360.41 | 40.88 | | PBT before EO | 155.8 | 112.88 | 38.02 | 507.73 | 360.41 | 40.88 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 155.8 | 112.88 | 38.02 | 507.73 | 360.41 | 40.88 | | Taxation | 39.92 | 26.77 | 49.12 | 131.51 | 90.86 | 44.74 | | PAT | 115.88 | 86.11 | 34.57 | 376.22 | 269.55 | 39.57 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 115.88 | 86.11 | 34.57 | 376.22 | 269.55 | 39.57 | | EPS (Rs)* | 12.86 | 9.56 | 34.57 | 41.75 | 29.92 | 39.57 | | | * EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, 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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| KEI Industries : Standalone Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Segment - Cables | 85.34 | 1,621.36 | 1,067.45 | 51.89 | 82.33 | 5,122.68 | 3,574.21 | 43.32 | | Segment - Stainless Steel Wire | 3.22 | 61.19 | 46.16 | 32.55 | 3.63 | 225.94 | 141.65 | 59.50 | | Segment-EPC Projects | 11.44 | 217.44 | 259.75 | -16.29 | 14.04 | 873.49 | 976.70 | -10.57 | | Total Reported Sales | 100.00 | 1,899.99 | 1,373.36 | 38.35 | 100.00 | 6,222.11 | 4,692.56 | 32.60 | | Less: Inter segment revenues | | 108.27 | 127.06 | -14.78 | | 495.56 | 511.08 | -3.04 | | Net Sales | 100.00 | 1,791.71 | 1,246.31 | 43.76 | 100.00 | 5,726.55 | 4,181.49 | 36.95 | | PBIT | | Segment - Cables | 82.28 | 131.26 | 99.96 | 31.31 | 83.57 | 486.42 | 409.53 | 18.78 | | Segment - Stainless Steel Wire | 2.12 | 3.38 | 0.98 | 244.05 | 2.34 | 13.63 | 8.39 | 62.60 | | Segment-EPC Projects | 15.60 | 24.89 | 20.25 | 22.94 | 14.09 | 81.98 | 90.74 | -9.65 | | Total PBIT | 100.00 | 159.53 | 121.19 | 31.64 | 100.00 | 582.03 | 508.65 | 14.43 | | Less : Interest | | 10.05 | 12.53 | -19.77 | | 40.39 | 57.31 | -29.52 | | Add: Other un-allcoable | | 6.32 | 4.21 | 49.95 | | -33.91 | -90.94 | 62.71 | | PBIT Margin(%) | | Segment - Cables | | 8.10 | 9.36 | -126.86 | | 9.50 | 11.46 | -196.24 | | Segment - Stainless Steel Wire | | 5.53 | 2.13 | 339.79 | | 6.03 | 5.92 | 11.50 | | Segment-EPC Projects | | 11.45 | 7.79 | 365.21 | | 9.39 | 9.29 | 9.50 | | PBT | 100.00 | 155.80 | 112.88 | 38.03 | 100.00 | 507.73 | 360.41 | 40.88 |
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