For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Sundram Fasteners has increased 16.19% to Rs 1403.03 crore compared to quarter ended Dec 2021. Operating profit margin has declined from 15.82% to 13.99%, leading to 2.78% rise in operating profit to Rs 196.28 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.51% to 45.21%. Employee cost decreased from 10.23% to 9.60%. Other expenses rose from 30.72% to 31.32%. Other income rose 92.69% to Rs 20.04 crore. PBIDT rose 7.42% to Rs 216.32 crore. Provision for interest rose 43.72% to Rs 9.96 crore.
PBDT rose 6.12% to Rs 206.36 crore. Provision for depreciation rose 5.21% to Rs 49.86 crore.
Profit before tax grew 6.42% to Rs 156.50 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 38.43 crore, compared to Rs 37.06 crore. Effective tax rate was 24.56% compared to 25.20%.
Minority interest decreased 45.60% to Rs 1.05 crore. Net profit attributable to owners of the company increased 8.28% to Rs 117.02 crore. Promoters’ stake was 48.51% as of 31 December 2022 ,compared to 49.53% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sundram Fasteners has increased 18.32% to Rs 4214.8 crore.
Operating profit margin has declined from 17.12% to 14.86%, leading to 2.73% rise in operating profit to Rs 626.50 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 42.47% to 45.11%. Employee cost decreased from 9.95% to 9.05%. Other expenses rose from 30.94% to 31.22%. Other income rose 41.14% to Rs 41.34 crore. PBIDT rose 4.49% to Rs 667.84 crore. Provision for interest rose 31.45% to Rs 26.96 crore.
PBDT rose 3.60% to Rs 640.88 crore. Provision for depreciation rose 4.64% to Rs 147.82 crore.
Profit before tax grew 3.29% to Rs 493.06 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 120.18 crore, compared to Rs 122.96 crore. Effective tax rate was 24.37% compared to 25.76%.Minority interest increased 8.08% to Rs 4.55 crore. Net profit attributable to owners of the company increased 5.18% to Rs 368.33 crore.
Promoters’ stake was 48.51% as of 31 December 2022 ,compared to 49.53% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Sundram Fasteners has increased 34.51% to Rs 4902.06 crore. Operating profit margin has declined from 18.22% to 16.35%, leading to 20.67% rise in operating profit to Rs 801.39 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 39.89% to 43.33%. Employee cost decreased from 10.85% to 9.70%. Other expenses fell from 31.26% to 30.99%. Other income rose 43.58% to Rs 39.34 crore. PBIDT rose 21.58% to Rs 840.73 crore. Provision for interest rose 9.91% to Rs 28.72 crore. Loan funds rose to Rs 771.68 crore as of 31 March 2022 from Rs 710.20 crore as of 31 March 2021. Inventories rose to Rs 820.08 crore as of 31 March 2022 from Rs 674.35 crore as of 31 March 2021. Sundry debtors were higher at Rs 1,005.04 crore as of 31 March 2022 compared to Rs 885.63 crore as of 31 March 2021. Cash and bank balance rose to Rs 71.31 crore as of 31 March 2022 from Rs 39.30 crore as of 31 March 2021. Investments rose to Rs 76.93 crore as of 31 March 2022 from Rs 64.18 crore as of 31 March 2021 .
PBDT rose 22.04% to Rs 812.01 crore. Provision for depreciation rose 6.18% to Rs 190.79 crore. Fixed assets increased to Rs 2,061.23 crore as of 31 March 2022 from Rs 2,036.95 crore as of 31 March 2021. Intangible assets stood at Rs 3.34 crore.
Profit before tax grew 27.90% to Rs 621.22 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 159.39 crore, compared to Rs 122.99 crore. Effective tax rate was 25.66% compared to 25.32%.
Minority interest increased 44.76% to Rs 5.11 crore. Net profit attributable to owners of the company increased 27.16% to Rs 456.72 crore.
Equity capital stood at Rs 21.01 crore as of 31 March 2022 to Rs 21.01 crore as of 31 March 2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 49.69% as of 31 March 2022 ,compared to 49.53% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 401.18 crore for year ended March 2022 from Rs 454.04 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 203.73 crore, compared to Rs 194.93 crore during the year ended March 2021.
Other Highlights
In Q3 FY23, domestic sales were at Rs
813.38 crore as against Rs 658.37 crore in Q3 FY22, posting growth of
23.5% YoY.
The export sales in Q3 FY23 stood at Rs
364.64 crore as against Rs 335.95 crore in Q3 FY22, an increase of 8.5% YoY.