On consolidated basis
Quarter ended September 2022
compared with Quarter ended September 2021.
Net sales (including other operating income) of West Coast Paper Mills has
increased 34.37% to Rs 1209.97 crore. Sales of Paper and Paper Board
segment has gone up 35.04% to Rs 1,167.15 crore (accounting for 96.46% of total
sales). Sales of Telecommunication Cable segment has gone up 18.76%
to Rs 42.70 crore (accounting for 3.53% of total sales). Sales of
Others segment fell 53.25% to Rs 0.12 crore (accounting for 0.01% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 269.99% to Rs 326.88
crore. PBIT of Paper and Paper Board segment rose 280.67% to Rs
324.27 crore (accounting for 99.20% of total PBIT). PBIT of
Telecommunication Cable segment fell 13.65% to Rs 2.62 crore (accounting for
0.80% of total PBIT). PBIT of Others reported loss of Rs 0.01 crore
compared to profit of Rs 0.13 crore.
PBIT margin of Paper and Paper Board
segment rose from 9.86% to 27.78%. PBIT margin of Telecommunication
Cable segment fell from 8.45% to 6.15%. PBIT margin of Others
segment fell from 50.08% to 8.70%. Overall PBIT margin rose from
9.81% to 27.02%.
Operating profit margin has jumped
from 15.78% to 30.36%, leading to 158.53% rise in operating profit to Rs 367.32
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 49.98% to 42.01%. Employee cost
decreased from 10.99% to 8.39%. Other expenses fell from 21.73% to
19.31%. Power and Oil fuel cost rose from 9.93% to 11.52%.
Other income rose 48.13% to Rs 17.02
crore. PBIDT rose 150.27% to Rs 384.34 crore. Provision
for interest fell 41.35% to Rs 6.68 crore. Loan funds declined from
Rs 684.54 crore as of 30 September 2021 to Rs 322.28 crore as of 30 September
2022. Inventories declined from Rs 423.76 crore as of 30 September
2021 to Rs 419.54 crore as of 30 September 2022. Sundry debtors were
higher at Rs 284.60 crore as of 30 September 2022 compared to Rs 272.00 crore
as of 30 September 2021. Cash and bank balance declined from Rs
126.54 crore as of 30 September 2021 to Rs 52.40 crore as of 30 September
2022. Investments rose to Rs 817.60 crore as of 30 September 2022
from Rs 239.45 crore as of 30 September 2021 .
PBDT rose 165.62% to Rs 377.66
crore. Provision for depreciation fell 12.64% to Rs 47.14
crore. Fixed assets increased to Rs 1,565.34 crore as of 30
September 2022 from Rs 1,550.94 crore as of 30 September
2021. Intangible assets declined from Rs 300.34 crore to Rs 183.71
crore.
Profit before tax grew 274.65% to Rs
330.52 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 84.4 crore, compared to
Rs 10.49 crore. Effective tax rate was 25.54% compared to 11.89%.
Minority interest increased 499.05%
to Rs 31.45 crore. Net profit attributable to owners of the company
increased 196.18% to Rs 214.67 crore.
Equity capital stood at Rs 13.21
crore as of 30 September 2022 to Rs 13.21 crore as of 30 September
2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 56.52% as of 30
September 2022 ,compared to 56.45% as of 30 September 2021 .
Year-to-date (YTD) results analysis.
Net sales (including other operating income) of West Coast Paper Mills has
increased 61.61% to Rs 2324.12 crore. Sales of Paper and Paper Board
segment has gone up 62.81% to Rs 2,228.73 crore (accounting for 95.90% of total
sales). Sales of Telecommunication Cable segment has gone up 38.06%
to Rs 95.22 crore (accounting for 4.10% of total sales). Sales of
Others segment fell 24.08% to Rs 0.17 crore (accounting for 0.01% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 313.69% to Rs 624.01
crore. PBIT of Paper and Paper Board segment rose 325.45% to Rs
617.98 crore (accounting for 99.03% of total PBIT). PBIT of
Telecommunication Cable segment rose 9.81% to Rs 6.02 crore (accounting for
0.97% of total PBIT). PBIT of Others segment fell 98.51% to Rs 0.00
crore (accounting for 0.00% of total PBIT).
PBIT margin of Paper and Paper Board
segment rose from 10.61% to 27.73%. PBIT margin of Telecommunication
Cable segment fell from 7.95% to 6.33%. PBIT margin of Others
segment fell from 44.04% to 0.87%. Overall PBIT margin rose from
10.49% to 26.85%.
Operating profit margin has jumped
from 16.84% to 29.62%, leading to 184.34% rise in operating profit to Rs 688.45
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 51.29% to 43.74%. Purchase of finished
goods cost fell from 0.15% to 0.14%. Employee cost decreased from
11.80% to 8.06%. Other expenses fell from 20.55% to 18.66%.
Power and Oil fuel cost rose from 9.66% to 10.92%.
Other income rose 10.51% to Rs 28.28
crore. PBIDT rose 167.73% to Rs 716.73 crore. Provision
for interest fell 56.86% to Rs 12.82 crore. Loan funds declined from
Rs 684.54 crore as of 30 September 2021 to Rs 322.28 crore as of 30 September
2022. Inventories declined from Rs 423.76 crore as of 30 September
2021 to Rs 419.54 crore as of 30 September 2022. Sundry debtors were
higher at Rs 284.60 crore as of 30 September 2022 compared to Rs 272.00 crore
as of 30 September 2021. Cash and bank balance declined from Rs
126.54 crore as of 30 September 2021 to Rs 52.40 crore as of 30 September
2022. Investments rose to Rs 817.60 crore as of 30 September 2022
from Rs 239.45 crore as of 30 September 2021 .
PBDT rose 195.77% to Rs 703.91
crore. Provision for depreciation fell 12.24% to Rs 93.23
crore. Fixed assets increased to Rs 1,565.34 crore as of 30
September 2022 from Rs 1,550.94 crore as of 30 September
2021. Intangible assets declined from Rs 300.34 crore to Rs 183.71
crore.
Profit before tax grew 363.48% to Rs
610.68 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 155.6 crore, compared
to Rs 14.82 crore. Effective tax rate was 25.48% compared to 11.25%.
Minority interest increased 340.21%
to Rs 55.07 crore. Net profit attributable to owners of the company
increased 283.04% to Rs 400.01 crore.
Equity capital stood at Rs 13.21
crore as of 30 September 2022 to Rs 13.21 crore as of 30 September
2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 56.52% as of 30
September 2022 ,compared to 56.45% as of 30 September 2021 .
Cash flow from operating activities
increased to Rs 564.05 crore for YTD ended September 2022 from Rs 216.17 crore
for YTD ended September 2021. Cash flow used in acquiring fixed
assets during the YTD ended September 2022 stood at Rs 63.64 crore, compared to
Rs 25.66 crore during the YTD ended September 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.
| West Coast Paper Mills : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,209.97 | 900.49 | 34.37 | 2,324.12 | 1,438.10 | 61.61 | 3,377.67 | 2,244.53 | 50.48 | | OPM (%) | 30.36 | 15.78 | 1,458 bps | 29.62 | 16.84 | 1,279 bps | 18.75 | 11.26 | 750 bps | | OP | 367.32 | 142.08 | 158.53 | 688.45 | 242.12 | 184.34 | 633.42 | 252.64 | 150.72 | | Other Inc. | 17.02 | 11.49 | 48.13 | 28.28 | 25.59 | 10.51 | 58.22 | 24.66 | 136.09 | | PBIDT | 384.34 | 153.57 | 150.27 | 716.73 | 267.71 | 167.73 | 691.64 | 277.30 | 149.42 | | Interest | 6.68 | 11.39 | -41.35 | 12.82 | 29.72 | -56.86 | 58.70 | 70.11 | -16.27 | | PBDT | 377.66 | 142.18 | 165.62 | 703.91 | 237.99 | 195.77 | 632.94 | 207.19 | 205.49 | | Depreciation | 47.14 | 53.96 | -12.64 | 93.23 | 106.23 | -12.24 | 212.53 | 229.35 | -7.33 | | PBT | 330.52 | 88.22 | 274.65 | 610.68 | 131.76 | 363.48 | 420.41 | -22.16 | LP | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 330.52 | 88.22 | 274.65 | 610.68 | 131.76 | 363.48 | 420.41 | -22.16 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | -4.01 | - | | PBT after EO | 330.52 | 88.22 | 274.65 | 610.68 | 131.76 | 363.48 | 420.41 | -26.17 | LP | | Taxation | 84.4 | 10.49 | 704.58 | 155.6 | 14.82 | 949.93 | 74.52 | -21.79 | PL | | PAT | 246.12 | 77.73 | 216.63 | 455.08 | 116.94 | 289.16 | 345.89 | -4.38 | LP | | Minority Interest (MI) | 31.45 | 5.25 | 499.05 | 55.07 | 12.51 | 340.21 | 38.85 | -1.28 | PL | | Net profit | 214.67 | 72.48 | 196.18 | 400.01 | 104.43 | 283.04 | 307.04 | -3.1 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 214.67 | 72.48 | 196.18 | 400.01 | 104.43 | 283.04 | 307.04 | -3.1 | LP | | EPS (Rs)* | 32.50 | 10.97 | 196.18 | 60.56 | 15.81 | 283.04 | 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 | td>-| | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202209 | 202109 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
|---|
| Sales | | Paper and Paper Board | 96.46 | 1,167.15 | 864.28 | 35.04 | 95.90 | 2,228.73 | 1,368.90 | 62.81 | 96.19 | 3,248.81 | 2,163.40 | 50.17 | | Telecommunication Cable | 3.53 | 42.70 | 35.95 | 18.76 | 4.10 | 95.22 | 68.97 | 38.06 | 3.81 | 128.61 | 80.95 | 58.87 | | Others | 0.01 | 0.12 | 0.26 | -53.25 | 0.01 | 0.17 | 0.23 | -24.08 | 0.01 | 0.24 | 0.17 | 39.15 | | Total Reported Sales | 100.00 | 1,209.97 | 900.49 | 34.37 | 100.00 | 2,324.12 | 1,438.10 | 61.61 | 100.00 | 3,377.67 | 2,244.53 | 50.48 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 1,209.97 | 900.49 | 34.37 | 100.00 | 2,324.12 | 1,438.10 | 61.61 | 100.00 | 3,377.67 | 2,244.53 | 50.48 | | PBIT | | Paper and Paper Board | 99.20 | 324.27 | 85.18 | 280.67 | 99.03 | 617.98 | 145.25 | 325.45 | 98.04 | 473.32 | 43.32 | 992.74 | | Telecommunication Cable | 0.80 | 2.62 | 3.04 | -13.65 | 0.97 | 6.02 | 5.49 | 9.81 | 1.96 | 9.49 | 8.04 | 17.96 | | Others | 0.00 | -0.01 | 0.13 | PL | 0.00 | 0.00 | 0.10 | -98.51 | -0.01 | -0.04 | -0.09 | 53.77 | | Total PBIT | 100.00 | 326.88 | 88.35 | 269.99 | 100.00 | 624.01 | 150.84 | 313.69 | 100.00 | 482.77 | 51.27 | 841.61 | | Less : Interest | | 6.68 | 11.39 | -41.34 | | 12.82 | 29.72 | -56.87 | | 58.70 | 70.11 | -16.28 | | Add: Other un-allcoable | | 10.32 | 11.26 | -8.31 | | -0.51 | 10.64 | PL | | -3.67 | -7.33 | 49.94 | | PBIT Margin(%) | | Paper and Paper Board | | 27.78 | 9.86 | 1,792.68 | | 27.73 | 10.61 | 1,711.69 | | 14.57 | 2.00 | 1,256.69 | | Telecommunication Cable | | 6.15 | 8.45 | -230.66 | | 6.33 | 7.95 | -162.78 | | 7.38 | 9.93 | -255.83 | | Others | | -8.70 | 50.08 | -5,878.12 | | 0.87 | 44.04 | -4,316.85 | | -16.56 | -49.83 | 3,327.08 | | PBT | 100.00 | 330.52 | 88.22 | 274.66 | 100.00 | 610.68 | 131.76 | 363.48 | 100.00 | 420.40 | -26.17 | LP |
|
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