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Results
28-Jul-22
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Analysis
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KEI Industries
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PAT up 55% largely on higher sales
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Standalone net sales
(including other operating income) of KEI Industries for the quarter ended June
2022 has increased 53.84% to Rs 1,565.41 crore. Operating profit
margin has declined from 11.18% to 10.20%, leading to 40.38% rise in operating
profit to Rs 159.64 crore. Raw material cost as a % of total sales
(net of stock adjustments) increased from 72.27% to 75.43%.
Employee cost decreased from 4.44% to 3.54%. Other
expenses fell from 13.28% to 10.96%. Contract job process charges
fell from 3.00% to 1.32%. Other income up 26.98% to Rs 3.53
crore. PBIDT rose 40.06% to Rs 163.17 crore. Provision
for interest fell 19.18% to Rs 9.23 crore. PBDT rose 46.50% to Rs
153.94 crore. Provision for depreciation rose 0.22% to Rs 13.88
crore. Profit before tax grew 53.52% to Rs 140.06
crore. Provision for tax was expense of Rs 36.29 crore, compared to
Rs 24.12 crore. Effective tax rate was 25.91% compared to 26.44%. Profit
after tax rose 54.63% to Rs 103.77 crore.
Sales of Segment - Cables segment has
gone up 60.62% to Rs 1,420.57 crore (accounting for 86.88% of total
sales). Sales of Segment - Stainless Steel Wire segment has gone up
27.61% to Rs 61.00 crore (accounting for 3.73% of total
sales). Sales of Segment-EPC Projects segment has gone up 11.42% to
Rs 153.59 crore (accounting for 9.39% of total sales). Inter-segment
sales rose Rs 53.03 crore to Rs 69.75 crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 26.94% to Rs 139.87 crore. PBIT of Segment - Cables segment
rose 34.47% to Rs 127.37 crore (accounting for 91.06% of total
PBIT). PBIT of Segment - Stainless Steel Wire segment rose 1.64% to
Rs 3.04 crore (accounting for 2.17% of total PBIT). PBIT of
Segment-EPC Projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76%
of total PBIT).
PBIT margin of Segment - Cables segment fell from 10.71% to
8.97%. PBIT margin of Segment - Stainless Steel Wire segment fell
from 6.26% to 4.98%. PBIT margin of Segment-EPC Projects segment
fell from 9.05% to 6.16%. Overall PBIT margin fell from 10.30% to
8.55%.
Consolidated net sales (including other operating income) of KEI Industries for
the quarter ended Jun 2022 has increased 53.84% to Rs 1565.41
crore. Sales of Segment-Cables segment has gone up 60.62% to Rs
1,420.57 crore (accounting for 86.88% of total sales). Sales of
Segment-Stainees Steel Wire segment has gone up 27.61% to Rs 61.00 crore
(accounting for 3.73% of total sales). Sales of Segment-EPC projects
segment has gone up 11.42% to Rs 153.59 crore (accounting for 9.39% of total sales). Inter-segment
sales rose Rs 53.03 crore to Rs 69.75 crore.
Profit before interest, tax and other
unallocable items (PBIT) has jumped 26.95% to Rs 139.86 crore. PBIT
of Segment-Cables segment rose 34.48% to Rs 127.36 crore (accounting for 91.06%
of total PBIT). PBIT of Segment-Stainees Steel Wire segment rose
1.64% to Rs 3.04 crore (accounting for 2.17% of total PBIT). PBIT of
Segment-EPC projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76%
of total PBIT).
PBIT margin of Segment-Cables segment
fell from 10.71% to 8.97%. PBIT margin of Segment-Stainees Steel
Wire segment fell from 6.26% to 4.98%. PBIT margin of Segment-EPC
projects segment fell from 9.05% to 6.16%. Overall PBIT margin fell
from 10.30% to 8.55%.
Operating profit margin has declined from 11.17% to 10.20%, leading to
40.38% rise in operating profit to Rs 159.63 crore. Raw material
cost as a % of total sales (net of stock adjustments) increased from 72.27% to
75.43%. Employee cost decreased from 4.44% to 3.54%.
Other expenses fell from 13.28% to 10.96%. Contract job
process charges fell from 3.00% to 1.32%.
Other income rose 26.98% to Rs 3.53
crore. PBIDT rose 40.06% to Rs 163.16 crore. Provision
for interest fell 19.18% to Rs 9.23 crore.
PBDT rose 46.50% to Rs 153.93
crore. Provision for depreciation rose 0.22% to Rs 13.88
crore.
Profit before tax grew 53.53% to Rs
140.05 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 36.29 crore, compared
to Rs 24.12 crore. Effective tax rate was 25.91% compared to 26.44%.
Minority interest was nil in both the periods. Net profit
attributable to owners of the company increased 54.63% to Rs 103.76
crore.
Promoters’ stake was
38.02% as of 30 June 2022 ,compared to 39.23% as of 30 June 2021.| KEI Industries : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,565.41 | 1,017.56 | 53.84 | 5,726.55 | 4,181.54 | 36.95 | | OPM (%) | 10.20 | 11.17 | -98 bps | 10.28 | 10.89 | -61 bps | | OP | 159.63 | 113.71 | 40.38 | 588.72 | 455.47 | 29.26 | | Other Inc. | 3.53 | 2.78 | 26.98 | 14.60 | 20.06 | -27.22 | | PBIDT | 163.16 | 116.49 | 40.06 | 603.32 | 475.53 | 26.87 | | Interest | 9.23 | 11.42 | -19.18 | 40.39 | 57.31 | -29.52 | | PBDT | 153.93 | 105.07 | 46.50 | 562.93 | 418.22 | 34.60 | | Depreciation | 13.88 | 13.85 | 0.22 | 55.45 | 57.81 | -4.08 | | PBT | 140.05 | 91.22 | 53.53 | 507.48 | 360.41 | 40.81 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0.04 | 0.1 | -60.00 | | PBT before EO | 140.05 | 91.22 | 53.53 | 507.52 | 360.51 | 40.78 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 140.05 | 91.22 | 53.53 | 507.52 | 360.51 | 40.78 | | Taxation | 36.29 | 24.12 | 50.46 | 131.51 | 90.86 | 44.74 | | PAT | 103.76 | 67.1 | 54.63 | 376.01 | 269.65 | 39.44 | | Minority Interest (MI) | 0 | 0 | - | -0.01 | 0.1 | LP | | Net profit | 103.76 | 67.1 | 54.63 | 376.02 | 269.55 | 39.50 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 103.76 | 67.1 | 54.63 | 376.02 | 269.55 | 39.50 | | EPS (Rs)* | 11.52 | 7.45 | 54.63 | 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) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Segment-Cables | 86.88 | 1,420.57 | 884.43 | 60.62 | 82.33 | 5,122.68 | 3,574.26 | 43.32 | | Segment-Stainees Steel Wire | 3.73 | 61.00 | 47.80 | 27.61 | 3.63 | 225.94 | 141.65 | 59.50 | | Segment-EPC projects | 9.39 | 153.59 | 137.85 | 11.42 | 14.04 | 873.49 | 976.70 | -10.57 | | Total Reported Sales | 100.00 | 1,635.16 | 1,070.08 | 52.81 | 100.00 | 6,222.11 | 4,692.61 | 32.59 | | Less: Inter segment revenues | | 69.75 | 53.03 | 31.53 | | 495.56 | 511.08 | -3.04 | | Net Sales | 100.00 | 1,565.41 | 1,017.05 | 53.92 | 100.00 | 5,726.55 | 4,181.54 | 36.95 | | PBIT | | Segment-Cables | 91.06 | 127.36 | 94.71 | 34.48 | 83.57 | 486.36 | 409.47 | 18.78 | | Segment-Stainees Steel Wire | 2.17 | 3.04 | 2.99 | 1.64 | 2.34 | 13.63 | 8.39 | 62.60 | | Segment-EPC projects | 6.76 | 9.46 | 12.47 | -24.14 | 14.09 | 81.98 | 90.74 | -9.65 | | Total PBIT | 100.00 | 139.86 | 110.17 | 26.95 | 100.00 | 581.97 | 508.59 | 14.43 | | Less : Interest | | 9.23 | 11.42 | -19.17 | | 40.39 | 57.31 | -29.52 | | Add: Other un-allcoable | | 9.41 | -7.54 | LP | | -34.05 | -90.78 | 62.49 | | PBIT Margin(%) | | Segment-Cables | | 8.97 | 10.71 | -174.31 | | 9.49 | 11.46 | -196.19 | | Segment-Stainees Steel Wire | | 4.98 | 6.26 | -127.37 | | 6.03 | 5.92 | 11.50 | | Segment-EPC projects | | 6.16 | 9.05 | -288.66 | | 9.39 | 9.29 | 9.50 | | PBT | 100.00 | 140.05 | 91.22 | 53.53 | 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 | 202206 | 202106 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,565.41 | 1,017.56 | 53.84 | 5,726.55 | 4,181.49 | 36.95 | | OPM (%) | 10.20 | 11.18 | -98 bps | 10.28 | 10.89 | -61 bps | | OP | 159.64 | 113.72 | 40.38 | 588.68 | 455.47 | 29.25 | | Other Inc. | 3.53 | 2.78 | 26.98 | 14.89 | 20.06 | -25.77 | | PBIDT | 163.17 | 116.50 | 40.06 | 603.57 | 475.53 | 26.93 | | Interest | 9.23 | 11.42 | -19.18 | 40.39 | 57.31 | -29.52 | | PBDT | 153.94 | 105.08 | 46.50 | 563.18 | 418.22 | 34.66 | | Depreciation | 13.88 | 13.85 | 0.22 | 55.45 | 57.81 | -4.08 | | PBT | 140.06 | 91.23 | 53.52 | 507.73 | 360.41 | 40.88 | | PBT before EO | 140.06 | 91.23 | 53.52 | 507.73 | 360.41 | 40.88 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 140.06 | 91.23 | 53.52 | 507.73 | 360.41 | 40.88 | | Taxation | 36.29 | 24.12 | 50.46 | 131.51 | 90.86 | 44.74 | | PAT | 103.77 | 67.11 | 54.63 | 376.22 | 269.55 | 39.57 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 103.77 | 67.11 | 54.63 | 376.22 | 269.55 | 39.57 | | EPS (Rs)* | 11.52 | 7.45 | 54.63 | 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) | 202206 | 202106 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Segment - Cables | 86.88 | 1,420.57 | 884.43 | 60.62 | 82.33 | 5,122.68 | 3,574.21 | 43.32 | | Segment - Stainless Steel Wire | 3.73 | 61.00 | 47.80 | 27.61 | 3.63 | 225.94 | 141.65 | 59.50 | | Segment-EPC Projects | 9.39 | 153.59 | 137.85 | 11.42 | 14.04 | 873.49 | 976.70 | -10.57 | | Total Reported Sales | 100.00 | 1,635.16 | 1,070.08 | 52.81 | 100.00 | 6,222.11 | 4,692.56 | 32.60 | | Less: Inter segment revenues | | 69.75 | 53.03 | 31.53 | | 495.56 | 511.08 | -3.04 | | Net Sales | 100.00 | 1,565.41 | 1,017.05 | 53.92 | 100.00 | 5,726.55 | 4,181.49 | 36.95 | | PBIT | | Segment - Cables | 91.06 | 127.37 | 94.72 | 34.47 | 83.57 | 486.42 | 409.53 | 18.78 | | Segment - Stainless Steel Wire | 2.17 | 3.04 | 2.99 | 1.64 | 2.34 | 13.63 | 8.39 | 62.60 | | Segment-EPC Projects | 6.76 | 9.46 | 12.47 | -24.14 | 14.09 | 81.98 | 90.74 | -9.65 | | Total PBIT | 100.00 | 139.87 | 110.18 | 26.94 | 100.00 | 582.03 | 508.65 | 14.43 | | Less : Interest | | 9.23 | 11.42 | -19.17 | | 40.39 | 57.31 | -29.52 | | Add: Other un-allcoable | | 9.41 | -7.54 | LP | | -33.91 | -90.94 | 62.71 | | PBIT Margin(%) | | Segment - Cables | | 8.97 | 10.71 | -174.38 | | 9.50 | 11.46 | -196.24 | | Segment - Stainless Steel Wire | | 4.98 | 6.26 | -127.37 | | 6.03 | 5.92 | 11.50 | | Segment-EPC Projects | | 6.16 | 9.05 | -288.66 | | 9.39 | 9.29 | 9.50 | | PBT | 100.00 | 140.05 | 91.23 | 53.52 | 100.00 | 507.73 | 360.41 | 40.88 |
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