Capitaline

Results 16-Aug-22

Analysis

Honeywell Automation India

Sales up 15%, net up 11%

Standalone net sales (including other operating income) of Honeywell Automation India for the quarter ended Jun 2022 has increased 15.07% to Rs 786.17 crore. Operating profit margin has declined from 17.07% to 15.50%, leading to 4.48% rise in operating profit to Rs 121.88 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 38.77% to 40.64%. Purchase of finished goods cost rose from 10.27% to 11.78%. Employee cost decreased from 19.47% to 19.22%. Other expenses fell from 14.83% to 13.24%.

Other income up 33.94% to Rs 29.2 crore. PBIDT rose 9.12% to Rs 151.08 crore. Provision for interest fell 31.52% to Rs 1.26 crore.

PBDT rose 9.67% to Rs 149.82 crore. Provision for depreciation down 4.23% to Rs 12.46 crore.

Profit before tax grew 11.13% to Rs 137.36 crore. Provision for tax was expense of Rs 35.39 crore, compared to Rs 32.07 crore. Effective tax rate was 25.76% compared to 25.95%.

Profit after tax rose 11.41% to Rs 101.97 crore.

Promoters’ stake was 75.00% as of 30 June 2022 ,compared to 75.00% as of 30 June 2021 .

Honeywell Automation India : Standalone Results

	Quarter ended			Year ended
Particulars	202206	202106	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	786.17	683.20	15.07	2,948.32	3,042.78	-3.10
OPM (%)	15.50	17.07	-157 bps	14.69	19.35	-466 bps
OP	121.88	116.65	4.48	433.23	588.92	-26.44
Other Inc.	29.20	21.80	33.94	82.34	83.97	-1.94
PBIDT	151.08	138.45	9.12	515.57	672.89	-23.38
Interest	1.26	1.84	-31.52	5.49	6.21	-11.59
PBDT	149.82	136.61	9.67	510.08	666.68	-23.49
Depreciation	12.46	13.01	-4.23	52.46	48.66	7.81
PBT	137.36	123.60	11.13	457.62	618.02	-25.95
PBT before EO	137.36	123.6	11.13	457.62	618.02	-25.95
EO Income	0	0	-	0	0	-
PBT after EO	137.36	123.6	11.13	457.62	618.02	-25.95
Taxation	35.39	32.07	10.35	118.49	157.98	-25.00
PAT	101.97	91.53	11.41	339.13	460.04	-26.28
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	101.97	91.53	11.41	339.13	460.04	-26.28
EPS (Rs)*	115.35	103.54	11.41	383.63	520.41	-26.28

* EPS is on current equity of Rs 8.84 crore, Face value of Rs 10, 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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