On consolidated basis
Quarter
ended March 2022 compared with Quarter ended March 2021.
Net sales (including other operating income) of West Coast Paper Mills has
increased 13.91% to Rs 1067.37 crore. Sales of Paper and Paper Board
segment has gone up 14.49% to Rs 1,042.50 crore (accounting for 97.67% of total
sales). Sales of Telecommunication Cable segment has gone down 6.03%
to Rs 24.87 crore (accounting for 2.33% of total sales). Sales of
Others segment fell 88.24% to Rs 0.00 crore (accounting for 0.00% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 93.15% to Rs 213.14
crore. PBIT of Paper and Paper Board segment rose 95.12% to Rs
211.54 crore (accounting for 99.25% of total PBIT). PBIT of
Telecommunication Cable segment fell 18.05% to Rs 1.64 crore (accounting for
0.77% of total PBIT). PBIT of Others segment rose 40.68% to Rs -0.04
crore (accounting for -0.02% of total PBIT).
PBIT margin of Paper and Paper Board
segment rose from 11.91% to 20.29%. PBIT margin of Telecommunication
Cable segment fell from 7.56% to 6.59%. PBIT margin of Others
segment fell from negative 3,976.47% to negative 20,050.00%. Overall
PBIT margin rose from 11.78% to 19.97%.
Operating profit margin has jumped
from 17.37% to 21.64%, leading to 41.93% rise in operating profit to Rs 231.03
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 48.96% to 46.41%. Employee cost decreased
from 10.87% to 9.88%. Other expenses fell from 19.36% to 19.16%.
Power and Oil fuel cost rose from 8.86% to 9.91%.
Other income rose 186.96% to Rs
21.78 crore. PBIDT rose 48.39% to Rs 252.81
crore. Provision for interest rose 71.84% to Rs 17.39
crore. Loan funds declined from Rs 675.75 crore as of 31 March 2021
to Rs 478.34 crore as of 31 March 2022. Inventories declined from Rs
411.84 crore as of 31 March 2021 to Rs 395.78 crore as of 31 March
2022. Sundry debtors were higher at Rs 242.29 crore as of 31 March
2022 compared to Rs 203.94 crore as of 31 March 2021. Cash and bank
balance declined from Rs 91.47 crore as of 31 March 2021 to Rs 60.14 crore as
of 31 March 2022. Investments rose to Rs 471.94 crore as of 31 March
2022 from Rs 219.79 crore as of 31 March 2021 .
PBDT rose 46.91% to Rs 235.42
crore. Provision for depreciation fell 14.45% to Rs 52.58
crore. Fixed assets declined from Rs 1,723.32 crore as of 31 March
2021 to Rs 1,594.97 crore as of 31 March 2022. Intangible assets stood
at Rs 183.71 crore.
Profit before tax grew 85.08% to Rs
182.84 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 42.32 crore, compared
to Rs 11.48 crore. Effective tax rate was 23.15% compared to 11.62%.
Minority interest increased 28.89%
to Rs 15.97 crore. Net profit attributable to owners of the company
increased 66.24% to Rs 124.55 crore.
Equity capital stood at Rs 13.21
crore as of 31 March 2022 to Rs 13.21 crore as of 31 March 2021. Per
share face Value remained same at Rs 2.00.
Promoters’ stake was 56.48% as of 31
March 2022 ,compared to 56.29% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of West Coast Paper Mills has
increased 50.48% to Rs 3377.67 crore. Sales of Paper and Paper Board
segment has gone up 50.17% to Rs 3,248.81 crore (accounting for 96.19% of total
sales). Sales of Telecommunication Cable segment has gone up 58.87%
to Rs 128.61 crore (accounting for 3.81% of total sales). Sales of
Others segment rose 39.15% to Rs 0.24 crore (accounting for 0.01% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 841.61% to Rs 482.77
crore. PBIT of Paper and Paper Board segment rose 992.74% to Rs
473.32 crore (accounting for 98.04% of total PBIT). PBIT of
Telecommunication Cable segment rose 17.96% to Rs 9.49 crore (accounting for
1.96% of total PBIT). PBIT of Others segment rose 53.77% to Rs -0.04
crore (accounting for -0.01% of total PBIT).
PBIT margin of Paper and Paper Board
segment rose from 2.00% to 14.57%. PBIT margin of Telecommunication
Cable segment fell from 9.93% to 7.38%. PBIT margin of Others
segment rose from negative 49.83% to negative 16.56%. Overall PBIT
margin rose from 2.28% to 14.29%.
Operating profit margin has jumped
from 11.26% to 18.75%, leading to 150.72% rise in operating profit to Rs 633.42
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 50.55% to 49.29%. Employee cost
decreased from 14.46% to 10.77%. Other expenses fell from 23.33% to
20.69%. Power and Oil fuel cost fell from 11.67% to 10.71%.
Other income rose 136.09% to Rs
58.22 crore. PBIDT rose 149.42% to Rs 691.64
crore. Provision for interest fell 16.27% to Rs 58.7
crore. Loan funds declined from Rs 675.75 crore as of 31 March 2021
to Rs 478.34 crore as of 31 March 2022. Inventories declined from Rs
411.84 crore as of 31 March 2021 to Rs 395.78 crore as of 31 March
2022. Sundry debtors were higher at Rs 242.29 crore as of 31 March
2022 compared to Rs 203.94 crore as of 31 March 2021. Cash and bank
balance declined from Rs 91.47 crore as of 31 March 2021 to Rs 60.14 crore as
of 31 March 2022. Investments rose to Rs 471.94 crore as of 31 March
2022 from Rs 219.79 crore as of 31 March 2021 .
PBDT rose 205.49% to Rs 632.94
crore. Provision for depreciation fell 7.33% to Rs 212.53
crore. Fixed assets declined from Rs 1,723.32 crore as of 31 March
2021 to Rs 1,594.97 crore as of 31 March 2022. Intangible assets stood
at Rs 183.71 crore.
Profit before tax reported profit of
Rs 420.41 crore compared to loss of Rs 22.16 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
debit of Rs 74.52 crore, compared to credit of Rs 21.79 crore. Effective
tax rate was 17.73% compared to 83.26%.
Equity capital stood at Rs 13.21
crore as of 31 March 2022 to Rs 13.21 crore as of 31 March 2021. Per
share face Value remained same at Rs 2.00.
Promoters’ stake was 56.48% as of 31
March 2022 ,compared to 56.29% as of 31 March 2021 .
Cash flow from operating activities
increased to Rs 590.56 crore for year ended March 2022 from Rs 337.82 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 62.86 crore, compared to Rs 74.05
crore during the year ended March 2021.
Dividend: The Board of directors have recommended
a dividend of Rs 6/- per equity share of Rs 2/- each.
| West Coast Paper Mills : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,067.37 | 937.03 | 13.91 | 3,377.67 | 2,244.53 | 50.48 | | OPM (%) | 21.64 | 17.37 | 427 bps | 18.75 | 11.26 | 750 bps | | OP | 231.03 | 162.78 | 41.93 | 633.42 | 252.64 | 150.72 | | Other Inc. | 21.78 | 7.59 | 186.96 | 58.22 | 24.66 | 136.09 | | PBIDT | 252.81 | 170.37 | 48.39 | 691.64 | 277.30 | 149.42 | | Interest | 17.39 | 10.12 | 71.84 | 58.70 | 70.11 | -16.27 | | PBDT | 235.42 | 160.25 | 46.91 | 632.94 | 207.19 | 205.49 | | Depreciation | 52.58 | 61.46 | -14.45 | 212.53 | 229.35 | -7.33 | | PBT | 182.84 | 98.79 | 85.08 | 420.41 | -22.16 | LP | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 182.84 | 98.79 | 85.08 | 420.41 | -22.16 | LP | | EO Income | 0 | 0 | - | 0 | -4.01 | - | | PBT after EO | 182.84 | 98.79 | 85.08 | 420.41 | -26.17 | LP | | Taxation | 42.32 | 11.48 | 268.64 | 74.52 | -21.79 | PL | | PAT | 140.52 | 87.31 | 60.94 | 345.89 | -4.38 | LP | | Minority Interest (MI) | 15.97 | 12.39 | 28.89 | 38.85 | -1.28 | PL | | Net profit | 124.55 | 74.92 | 66.24 | 307.04 | -3.1 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 124.55 | 74.92 | 66.24 | 307.04 | -3.1 | LP | | EPS (Rs)* | 18.86 | 11.34 | 66.24 | 46.49 | -0.04 | LP | | | * EPS is on current equity of Rs 13.21 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 |
|
| West Coast Paper Mills : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Paper and Paper Board | 97.67 | 1,042.50 | 910.56 | 14.49 | 96.19 | 3,248.81 | 2,163.40 | 50.17 | | Telecommunication Cable | 2.33 | 24.87 | 26.46 | -6.03 | 3.81 | 128.61 | 80.95 | 58.87 | | Others | 0.00 | 0.00 | 0.00 | -88.24 | 0.01 | 0.24 | 0.17 | 39.15 | | Total Reported Sales | 100.00 | 1,067.37 | 937.03 | 13.91 | 100.00 | 3,377.67 | 2,244.53 | 50.48 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,067.37 | 937.03 | 13.91 | 100.00 | 3,377.67 | 2,244.53 | 50.48 | | PBIT | | Paper and Paper Board | 99.25 | 211.54 | 108.42 | 95.12 | 98.04 | 473.32 | 43.32 | 992.74 | | Telecommunication Cable | 0.77 | 1.64 | 2.00 | -18.05 | 1.96 | 9.49 | 8.04 | 17.96 | | Others | -0.02 | -0.04 | -0.07 | 40.68 | -0.01 | -0.04 | -0.09 | 53.77 | | Total PBIT | 100.00 | 213.14 | 110.35 | 93.15 | 100.00 | 482.77 | 51.27 | 841.61 | | Less : Interest | | 17.39 | 10.12 | 71.91 | | 58.70 | 70.11 | -16.28 | | Add: Other un-allcoable | | -12.91 | -1.45 | -789.21 | | -3.67 | -7.33 | 49.94 | | PBIT Margin(%) | | Paper and Paper Board | | 20.29 | 11.91 | 838.49 | | 14.57 | 2.00 | 1,256.69 | | Telecommunication Cable | | 6.59 | 7.56 | -96.70 | | 7.38 | 9.93 | -255.83 | | Others | | -20,050.00 | -3,976.47 | -16,07,352.94 | | -16.56 | -49.83 | 3,327.08 | | PBT | 100.00 | 182.84 | 98.78 | 85.10 | 100.00 | 420.40 | -26.17 | LP |
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