EPL consolidated net
sales increased 6.96% to Rs 944.9 crore in Q3FY23 compared to Q3FY22. Sales of AMESA segment has gone up 9.18% to
Rs 352.10 crore (accounting for 35.37% of total sales). Sales of EAP segment has gone down 7.97% to
Rs 226.30 crore (accounting for 22.73% of total sales). Sales of AMERICAS segment rose 19.01% to Rs
226.00 crore (accounting for 22.70% of total sales). Sales of EUROPE segment has gone up 10.33% to
Rs 191.10 crore (accounting for 19.20% of total sales). Inter-segment sales rose Rs 48.30 crore to Rs
50.90 crore.
Profit before
interest, tax and other unallocable items (PBIT) has jumped 4.86% to Rs 84.20
crore. PBIT of AMESA segment rose 14.45%
to Rs 40.40 crore (accounting for 47.98% of total PBIT). PBIT of EAP segment fell 12.89% to Rs 36.50
crore (accounting for 43.35% of total PBIT).
PBIT of AMERICAS segment rose 105.66% to Rs 10.90 crore (accounting for
12.95% of total PBIT). PBIT of EUROPE
segment fell 63.64% to Rs -3.60 crore (accounting for -4.28% of total
PBIT).
PBIT margin of AMESA
segment rose from 10.95% to 11.47%. PBIT
margin of EAP segment fell from 17.04% to 16.13%. PBIT margin of AMERICAS segment rose from
2.79% to 4.82%. PBIT margin of EUROPE
segment fell from negative 1.27% to negative 1.88%. Overall PBIT margin fell from 8.62% to
8.46%.
Operating profit
margin has jumped from 15.70% to 15.77%, leading to 7.43% rise in operating
profit to Rs 149.00 crore. Raw material
cost as a % of total sales (net of stock adjustments) increased from 45.25% to
46.51%. Employee cost decreased from 19.09%
to 18.08%.
Other income rose
38.71% to Rs 4.3 crore. PBIDT rose 8.11%
to Rs 153.3 crore. Provision for
interest rose 83.50% to Rs 18.9 crore.
PBDT rose 2.21% to Rs
134.4 crore. Provision for depreciation
rose 8.88% to Rs 69.9 crore.
Profit before tax
down 4.16% to Rs 64.50 crore. Share of
profit/loss was 16.67% higher at Rs -0.5 crore.
Provision for tax was expense of Rs 1 crore, compared to Rs 8.2 crore. Effective tax rate was 1.56% compared to
12.29%.
Minority interest
decreased 85.71% to Rs 0.20 crore. Net
profit attributable to owners of the company increased 9.98% to Rs 62.80
crore.
Promoters’ stake was
51.53% as of 31 December 2022 ,compared to 51.91% as of 31 December 2021 .
For year-to-date (YTD) results analysis
Net sales of EPL have
increased 6.75% to Rs 2724.8 crore.
Sales of AMESA segment has gone up 13.09% to Rs 1,031.30 crore
(accounting for 35.49% of total sales).
Sales of EAP segment has gone down 4.48% to Rs 635.70 crore (accounting
for 21.87% of total sales). Sales of
AMERICAS segment rose 19.66% to Rs 645.90 crore (accounting for 22.22% of total
sales). Sales of EUROPE segment has gone
up 9.91% to Rs 593.30 crore (accounting for 20.41% of total sales). Inter-segment sales rose Rs 105.20 crore to
Rs 182.40 crore.
Profit before
interest, tax and other unallocable items (PBIT) has slumped 7.70% to Rs 242.30
crore. PBIT of AMESA segment rose 2.95%
to Rs 104.60 crore (accounting for 43.17% of total PBIT). PBIT of EAP segment fell 11.46% to Rs 98.90
crore (accounting for 40.82% of total PBIT).
PBIT of AMERICAS segment fell 5.88% to Rs 32.00 crore (accounting for
13.21% of total PBIT). PBIT of EUROPE
segment fell 55.26% to Rs 6.80 crore (accounting for 2.81% of total PBIT).
PBIT margin of AMESA
segment fell from 11.14% to 10.14%. PBIT
margin of EAP segment fell from 16.78% to 15.56%. PBIT margin of AMERICAS segment fell from
6.30% to 4.95%. PBIT margin of EUROPE
segment fell from 2.82% to 1.15%.
Overall PBIT margin fell from 9.88% to 8.34%.
Operating profit
margin has declined from 17.35% to 15.53%, leading to 4.47% decline in
operating profit to Rs 423.20 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
44.25% to 46.13%. Employee cost
decreased from 18.90% to 18.42%. Other
expenses rose from 19.70% to 20.22%.
Other income rose
56.12% to Rs 15.3 crore. PBIDT fell
3.16% to Rs 438.5 crore. Provision for
interest rose 61.94% to Rs 46.8 crore.
PBDT fell 7.60% to Rs
391.7 crore. Provision for depreciation
rose 7.01% to Rs 201.5 crore.
Profit before tax
down 19.27% to Rs 190.20 crore. Share of
profit/loss was 53.95% higher at Rs -3.5 crore.
PBT before EO was down 18% to Rs 186.7 crore. The company reported EO
expense of Rs 1.1 crore represents exchange difference arising on translation
of foreign operations of the above subsidiary compared to nil EO items. PBT
after EO fell 19% to Rs 185.6 crore
Provision for tax was
expense of Rs 40 crore, compared to Rs 56.8 crore. Effective tax rate was 21.55% compared to
24.91%.
Minority interest
decreased 41.82% to Rs 3.20 crore. Net
profit attributable to owners of the company decreased 14.06% to Rs 142.40
crore.
Promoters’ stake was
51.53% as of 31 December 2022 compared to 51.91% as of 31 December 2021 .
The scrip is
currently trading at Rs 151
EPL : Consolidated Results
|
Particulars
|
2212
(03)
|
2112
(03)
|
Var.(%)
|
2212
(09)
|
2112
(09)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
Net
Sales
|
944.9
|
883.4
|
7
|
2724.8
|
2552.6
|
7
|
3,432.80
|
3,091.60
|
11
|
OPM
(%)
|
15.8
|
15.7
|
|
15.5
|
17.4
|
|
16.8
|
19.8
|
|
OP
|
149
|
138.7
|
7
|
423.2
|
443
|
-4
|
576.1
|
611.1
|
-6
|
Other
Inc.
|
4.3
|
3.1
|
39
|
15.3
|
9.8
|
56
|
12
|
14.5
|
-17
|
PBIDT
|
153.3
|
141.8
|
8
|
438.5
|
452.8
|
-3
|
588.1
|
625.6
|
-6
|
Interest
|
18.9
|
10.3
|
83
|
46.8
|
28.9
|
62
|
40.3
|
42.9
|
-6
|
PBDT
|
134.4
|
131.5
|
2
|
391.7
|
423.9
|
-8
|
547.8
|
582.7
|
-6
|
Depreciation
|
69.9
|
64.2
|
9
|
201.5
|
188.3
|
7
|
251.4
|
234.6
|
7
|
PBT
|
64.5
|
67.3
|
-4
|
190.2
|
235.6
|
-19
|
296.4
|
348.1
|
-15
|
Share
of Profit/(Loss) from Associates
|
-0.5
|
-0.6
|
-17
|
-3.5
|
-7.6
|
-54
|
-7.6
|
-0.9
|
744
|
PBT
before EO
|
64
|
66.7
|
-4
|
186.7
|
228
|
-18
|
288.8
|
347.2
|
-17
|
EO
Income
|
0
|
0
|
|
-1.1
|
0
|
|
0
|
-16.1
|
-100
|
PBT
after EO
|
64
|
66.7
|
-4
|
185.6
|
228
|
-19
|
288.8
|
331.1
|
-13
|
Taxation
|
1
|
8.2
|
-88
|
40
|
56.8
|
-30
|
67.50
|
86.80
|
-22
|
PAT
|
63
|
58.5
|
8
|
145.6
|
171.2
|
-15
|
221.3
|
244.3
|
-9
|
PPA
|
0
|
0
|
|
0
|
0
|
|
0.00
|
0.00
|
|
PAT after PPA
|
63
|
58.5
|
8
|
145.6
|
171.2
|
-15
|
221.3
|
244.3
|
-9
|
Minority
Interest (MI)
|
0.2
|
1.4
|
-86
|
3.2
|
5.5
|
-42
|
6.9
|
5.2
|
33
|
Net
profit
|
62.8
|
57.1
|
10
|
142.4
|
165.7
|
-14
|
214.4
|
239.1
|
-10
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
6.8
|
7.9
|
|
Notes
|
*
EPS is on current equity of Rs 63.17 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
|
EPL : Consolidated Segment Results
|
|
%
of (Total)
|
2212
(03)
|
2112
(03)
|
Var.(%)
|
%
of (Total)
|
2212
(09)
|
2112
(09)
|
Var.(%)
|
%
of (Total)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
Sales
|
|
|
|
|
AMESA
|
35
|
352.1
|
322.5
|
9
|
35
|
1031.3
|
911.9
|
13
|
34
|
1,225.90
|
993.4
|
23
|
EAP
|
23
|
226.3
|
245.9
|
-8
|
22
|
635.7
|
665.5
|
-4
|
24
|
862.6
|
782
|
10
|
AMERICAS
|
23
|
226
|
189.9
|
19
|
22
|
645.9
|
539.8
|
20
|
21
|
736.2
|
652.1
|
13
|
EUROPE
|
19
|
191.1
|
173.2
|
10
|
20
|
593.3
|
539.8
|
10
|
21
|
748.4
|
768.6
|
-3
|
Total
Reported Sales
|
100
|
995.50
|
931.50
|
7
|
100
|
2,906.20
|
2,657.00
|
9
|
100
|
3,573.10
|
3,196.10
|
12
|
Less:
Inter segment revenues
|
|
50.9
|
48.3
|
5
|
|
182.4
|
105.2
|
73
|
|
141.4
|
105.7
|
34
|
Net
Sales
|
|
944.60
|
883.20
|
7
|
|
2,723.80
|
2,551.80
|
7
|
|
3,431.70
|
3,090.40
|
11
|
PBIT
|
|
|
|
|
AMESA
|
48
|
40.4
|
35.3
|
14
|
43
|
104.6
|
101.6
|
3
|
39
|
129.3
|
108.3
|
19
|
EAP
|
43
|
36.5
|
41.9
|
-13
|
41
|
98.9
|
111.7
|
-11
|
38
|
127.7
|
143.4
|
-11
|
AMERICAS
|
13
|
10.9
|
5.3
|
106
|
13
|
32
|
34
|
-6
|
16
|
52.9
|
71.2
|
-26
|
EUROPE
|
-4
|
-3.6
|
-2.2
|
64
|
3
|
6.8
|
15.2
|
-55
|
8
|
25.6
|
62.5
|
-59
|
Total
PBIT
|
100
|
84.2
|
80.3
|
5
|
100
|
242.3
|
262.5
|
-8
|
100
|
335.5
|
385.4
|
-13
|
Less
: Interest
|
|
18.9
|
10.3
|
83
|
|
46.8
|
28.9
|
62
|
|
40.3
|
42.9
|
-6
|
Add:
Other un-allcoable
|
|
-1.3
|
-3.3
|
-61
|
|
-9.9
|
-5.6
|
77
|
|
-6.4
|
-11.4
|
44
|
PBT
|
|
64
|
66.7
|
-4
|
|
185.6
|
228
|
-19
|
|
288.8
|
331.1
|
-13
|
|