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Results
07-Aug-22
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Analysis
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Tega Industries
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Strong operating performance
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Tega Industries consolidated net sales increased 41.13% to Rs 244.45 crore
in Q1FY23 compared to Q1FY22.
Operating profit margin has jumped from 13.56% to 18.89%, leading to 96.59%
rise in operating profit to Rs 46.18 crore.
Raw material cost as a % of total sales (net of stock adjustments)
increased from 42.20% to 42.64%.
Employee cost decreased from 19.34% to 15.40%. Other expenses fell from 25.48% to 23.50%.
PBIDT rose 44.59% to Rs 42.9 crore.
Provision for interest rose 37.67% to Rs 4.97 crore.
PBDT rose 45.55% to Rs 37.93 crore.
Provision for depreciation fell 12.95% to Rs 9.14 crore.
Profit before tax grew 85.03% to Rs 28.79 crore. Share of profit/loss was 58.06% higher at Rs
0.98 crore. Provision for tax was
expense of Rs 6.72 crore, compared to Rs 4.3 crore. Effective tax rate was 22.57% compared to
26.58%.
Net profit attributable to owners of the company increased 94.02% to Rs
23.05 crore.
Promoters’ stake was 79.17% as of 30 June 2022
Full year results
analysis
Net sales of Tega Industries have increased 18.15% to Rs 951.76 crore.
Operating profit margin has declined from 23.28% to 19.21%, leading to
2.47% decline in operating profit to Rs 182.85 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 40.52% to 42.36%. Employee cost decreased
from 15.15% to 15.05%. Other expenses
rose from 21.18% to 23.39%.
Other income fell 52.70% to Rs 24.2 crore.
PBIDT fell 13.24% to Rs 207.05 crore.
Provision for interest fell 6.25% to Rs 16.2 crore. Loan funds rose to Rs 245.17 crore as of 31
March 2022 from Rs 219.67 crore as of 31 March 2021. Inventories rose to Rs 252.14 crore as of 31
March 2022 from Rs 158.63 crore as of 31 March 2021. Sundry debtors were higher at Rs 276.52 crore
as of 31 March 2022 compared to Rs 220.86 crore as of 31 March 2021. Cash and bank balance declined from Rs 48.41
crore as of 31 March 2021 to Rs 40.20 crore as of 31 March 2022. Investments declined from Rs 201.30 crore as
of 31 March 2021 to Rs 198.53 crore as of 31 March 2022.
PBDT fell 13.79% to Rs 190.85 crore.
Provision for depreciation fell 3.68% to Rs 38.7 crore. Fixed assets increased to Rs 242.57 crore as
of 31 March 2022 from Rs 239.72 crore as of 31 March 2021. Intangible assets increased from Rs 63.28
crore to Rs 65.90 crore.
Profit before tax down 16.03% to Rs 152.15 crore. Share of profit/loss was 5.22% higher at Rs
2.82 crore. Provision for tax was
expense of Rs 38.07 crore, compared to Rs 47.46 crore. Effective tax rate was 24.57% compared to
25.81%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company decreased 14.30% to Rs 116.90 crore.
Equity capital stood at Rs 66.29 crore as of 31 March 2022 to Rs 66.29
crore as of 31 March 2021. Per share
face Value remained same at Rs 10.00.
Promoters’ stake was 79.17% as of 31 March 2022
Cash flow from operating activities decreased to Rs 13.71 crore for year
ended March 2022 from Rs 170.25 crore for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 41.00 crore, compared to Rs 48.61
crore during the year ended March 2021.
The scrip is currently trading at Rs 475
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Tega Industries : Consolidated Results
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Particulars
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2206 (03)
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2106 (03)
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Var.(%)
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2203 (12)
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2103 (12)
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Var.(%)
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Net Sales
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244.45
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173.21
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41
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951.76
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805.52
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18
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OPM (%)
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18.9
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13.6
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19.2
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23.3
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OP
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46.18
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23.49
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97
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182.85
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187.49
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-2
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Other Inc.
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-3.28
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6.18
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PL
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24.2
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51.16
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-53
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PBIDT
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42.9
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29.67
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45
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207.05
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238.65
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-13
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Interest
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4.97
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3.61
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38
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16.2
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17.28
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-6
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PBDT
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37.93
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26.06
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46
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190.85
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221.37
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-14
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Depreciation
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9.14
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10.5
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-13
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38.7
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40.18
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-4
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PBT
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28.79
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15.56
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85
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152.15
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181.19
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-16
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Share of Profit/(Loss) from Associates
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0.98
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0.62
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58
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2.82
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2.68
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5
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PBT before EO
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29.77
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16.18
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84
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154.97
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183.87
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-16
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EO Income
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0
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0
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0
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0
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-
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PBT after EO
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29.77
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16.18
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154.97
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183.87
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-16
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Taxation
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6.72
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4.3
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56
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38.07
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47.46
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-20
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PAT
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23.05
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11.88
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94
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116.9
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136.41
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-14
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Minority Interest (MI)
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0
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0
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0
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0
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-
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Net profit
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23.05
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11.88
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94
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116.9
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136.41
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-14
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EPS (Rs)*
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#
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#
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17.6
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20.6
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Notes
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* EPS is on current equity of Rs 66.29 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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