Capitaline

Results 04-Feb-23

Analysis

Voltamp Transformers

Net up 69% on good operating show

Standalone net sales (including other operating income) of Voltamp Transformers for the quarter ended Dec 2022 has increased 13.50% to Rs 357.47 crore. Operating profit margin has jumped from 10.92% to 15.50%, leading to 61.17% rise in operating profit to Rs 55.41 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 78.02% to 71.55%. Employee cost decreased from 4.32% to 3.47%. Other expenses rose from 6.38% to 6.55%.

Other income up 79.24% to Rs 13.73 crore. PBIDT rose 64.46% to Rs 69.14 crore. Provision for interest fell 8.33% to Rs 0.22 crore.

PBDT rose 64.88% to Rs 68.92 crore. Provision for depreciation rose 26.77% to Rs 2.51 crore.

Profit before tax grew 66.78% to Rs 66.41 crore. Provision for tax was expense of Rs 15.65 crore, compared to Rs 9.71 crore. Effective tax rate was 23.57% compared to 24.38%.

Profit after tax rose 68.58% to Rs 50.76 crore.

Nine month performance

Net sales (including other operating income) of Voltamp Transformers has increased 27.73% to Rs 945.24 crore.

Operating profit margin has jumped from 9.77% to 14.60%, leading to 91.01% rise in operating profit to Rs 138.04 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 80.96% to 76.91%. Employee cost decreased from 3.82% to 3.16%. Other expenses fell from 6.21% to 5.85%.

Other income fell 16.76% to Rs 29.25 crore. PBIDT rose 55.75% to Rs 167.29 crore. Provision for interest up 17.86% to Rs 0.66 crore.

PBDT rose 55.95% to Rs 166.63 crore. Provision for depreciation rose 24.26% to Rs 7.12 crore. Profit before tax grew 57.74% to Rs 159.51 crore. Provision for tax was expense of Rs 36.14 crore, compared to Rs 20.15 crore. Effective tax rate was 22.66% compared to 19.93%.Profit after tax rose 52.37% to Rs 123.37 crore.

Promoters’ stake was 50.00% as of 31 December 2022 ,compared to 50.00% as of 31 December 2021 .

Voltamp Transformers : Standalone Results

	Quarter ended			Year to Date			Year ended
Particulars	202212	202112	Var.(%)	202212	202112	Var.(%)	202203	202103	Var.(%)
Net Sales (including other operating income)	357.47	314.95	13.50	945.24	740.01	27.73	1,127.21	692.31	62.82
OPM (%)	15.50	10.92	458 bps	14.60	9.77	484 bps	12.33	11.19	115 bps
OP	55.41	34.38	61.17	138.04	72.27	91.01	139.00	77.44	79.49
Other Inc.	13.73	7.66	79.24	29.25	35.14	-16.76	42.95	72.47	-40.73
PBIDT	69.14	42.04	64.46	167.29	107.41	55.75	181.95	149.91	21.37
Interest	0.22	0.24	-8.33	0.66	0.56	17.86	0.8	0.6	33.33
PBDT	68.92	41.80	64.88	166.63	106.85	55.95	181.15	149.31	21.32
Depreciation	2.51	1.98	26.77	7.12	5.73	24.26	7.94	8.85	-10.28
PBT	66.41	39.82	66.78	159.51	101.12	57.74	173.21	140.46	23.32
PBT before EO	66.41	39.82	66.78	159.51	101.12	57.74	173.21	140.46	23.32
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	66.41	39.82	66.78	159.51	101.12	57.74	173.21	140.46	23.32
Taxation	15.65	9.71	61.17	36.14	20.15	79.35	40.37	28.24	42.95
PAT	50.76	30.11	68.58	123.37	80.97	52.37	132.84	112.22	18.37
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	50.76	30.11	68.58	123.37	80.97	52.37	132.84	112.22	18.37
EPS (Rs)*	50.17	29.76	68.58	121.94	80.03	52.37	131.30	110.92	18.37

* EPS is on current equity of Rs 10.12 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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