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Results
11-Feb-23
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Analysis
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Pix Transmission
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Sales up 3%, NP down 31%
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Pix
Transmission consolidated net sales increased 2.69% to Rs 112.04 crore in
Q3FY23 compared to Q3FY22. Operating
profit margin has declined from 25.84% to 19.51%, leading to 22.45% decline in
operating profit to Rs 21.86 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
38.93% to 36.12%. Purchase of finished
goods cost rose from 1.66% to 5.39%.
Employee cost increased from 14.84% to 20.42%. Other expenses fell from 20.05% to
18.73%.
Other
income fell 20.12% to Rs 1.35 crore.
PBIDT fell 22.32% to Rs 23.21 crore.
Provision for interest rose 16.28% to Rs 2 crore.
PBDT
fell 24.68% to Rs 21.21 crore. Provision
for depreciation rose 12.06% to Rs 5.76 crore.
Profit
before tax down 32.88% to Rs 15.45 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 3.63
crore, compared to Rs 5.9 crore.
Effective tax rate was 23.50% compared to 25.63%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 30.96% to Rs
11.82 crore.
Promoters’
stake was 61.80% as of 31 December 2022 ,compared to 61.78% as of 31 December
2021 .
For year-to-date
(YTD) results analysis
Net
sales (including other operating income) of Pix Transmission has increased
3.55% to Rs 351.8 crore. Operating
profit margin has declined from 25.35% to 20.17%, leading to 17.59% decline in
operating profit to Rs 70.96 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
38.03% to 37.38%. Purchase of finished
goods cost rose from 2.67% to 3.28%.
Employee cost increased from 17.74% to 20.06%. Other expenses rose from 17.69% to
18.96%.
Other
income rose 150.37% to Rs 13.52 crore.
PBIDT fell 7.68% to Rs 84.48 crore.
Provision for interest rose 12.38% to Rs 5.72 crore.
PBDT
fell 8.86% to Rs 78.76 crore. Provision
for depreciation rose 15.10% to Rs 17.61 crore.
Profit
before tax down 14.02% to Rs 61.15 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 15.43
crore, compared to Rs 17.75 crore.
Effective tax rate was 25.23% compared to 24.96%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 14.33% to Rs
45.72 crore.
Promoters’
stake was 61.80% as of 31 December 2022 ,compared to 61.78% as of 31 December 2021
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The
scrip trades at Rs 786
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Pix Transmission : Consolidated Results
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Particulars
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2212 (03)
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2112 (03)
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Var.(%)
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2212 (09)
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2112 (09)
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Var.(%)
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2203 (12)
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2103 (12)
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Var.(%)
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Net Sales
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112.04
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109.1
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3
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351.8
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339.73
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4
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449.26
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380.27
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18
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OPM (%)
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19.5
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25.8
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20.2
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25.3
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25.4
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29.1
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OP
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21.86
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28.19
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-22
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70.96
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86.11
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-18
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114.17
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110.72
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3
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Other Inc.
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1.35
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1.69
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-20
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13.52
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5.4
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150
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8.17
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4.99
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64
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PBIDT
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23.21
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29.88
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-22
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84.48
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91.51
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-8
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122.34
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115.71
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6
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Interest
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2
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1.72
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16
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5.72
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5.09
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12
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7.01
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8.4
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-17
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PBDT
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21.21
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28.16
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-25
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78.76
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86.42
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-9
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115.33
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107.31
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7
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Depreciation
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5.76
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5.14
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12
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17.61
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15.3
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15
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20.75
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19.97
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4
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PBT
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15.45
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23.02
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-33
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61.15
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71.12
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-14
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94.58
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87.34
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8
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Share of Profit/(Loss) from Associates
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0
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0
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0
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0
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0
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0
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-
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PBT before EO
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15.45
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23.02
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-33
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61.15
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71.12
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-14
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94.58
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87.34
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8
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EO Income
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0
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0
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0
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0
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0
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0
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-
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PBT after EO
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15.45
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23.02
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-33
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61.15
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71.12
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-14
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94.58
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87.34
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8
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Taxation
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3.63
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5.9
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-38
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15.43
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17.75
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-13
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25.74
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22.44
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15
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PAT
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11.82
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17.12
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-31
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45.72
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53.37
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-14
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68.84
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64.9
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6
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Minority Interest (MI)
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0
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0
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0
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0
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0
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0
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-
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Net profit
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11.82
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17.12
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-31
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45.72
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53.37
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-14
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68.84
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64.9
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6
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EPS (Rs)*
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#
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#
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#
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#
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50.5
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47.6
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Notes
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* EPS is on current equity of Rs 13.63 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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