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Results
09-May-23
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Analysis
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Aarti Industries
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OP down 26%
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Aarti
Industries consolidated net sales declined 5.73% to Rs 1655 crore in Q3FY23
compared to Q4FY22. Operating profit
margin has declined from 19.32% to 15.17%, leading to 25.98% decline in
operating profit to Rs 251.00 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
49.28% to 53.73%. Purchase of finished goods cost fell from 5.19% to
4.19%. Employee cost increased from
6.56% to 6.62%. Other expenses fell from 20.46% to 20.22%.
Other
income rose 488.24% to Rs 1 crore. PBIDT
fell 25.73% to Rs 252 crore. Provision
for interest rose 7.77% to Rs 33 crore.
PBDT
fell 29.05% to Rs 219 crore. Provision
for depreciation rose 8.77% to Rs 84 crore.
Fixed assets increased to Rs 5,848.00 crore as of 31 March 2023 from Rs
4,940.64 crore as of 31 March 2022.
Profit
before tax down 41.67% to Rs 135.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 14 crore,
compared to debit of Rs 37.68 crore.
Effective tax rate was negative 10.37% compared to 16.28%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 23.09% to Rs
149.00 crore.
Equity
capital decreased from Rs 181.25 crore as of 31 March 2022 to Rs 181.00 crore
as of 31 March 2023 . Per share face
Value remained same at Rs 5.00.
Promoters’
stake was 44.07% as of 31 March 2023 compared to 44.19% as of 31 March 2022.
Full year results
analysis
Net
sales of Aarti Industries has increased 8.77% to Rs 6619 crore. Operating profit margin has declined from
28.27% to 16.45%, leading to 36.69% decline in operating profit to Rs 1,089.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 44.38% to 52.83%. Purchase of finished goods cost rose from
4.30% to 4.79%. Employee cost increased
from 5.67% to 5.88%. Other expenses rose
from 18.33% to 19.88%.
PBIDT
fell 36.72% to Rs 1089 crore. Provision
for interest rose 64.17% to Rs 168 crore.
Loan funds rose to Rs 2,907.00 crore as of 31 March 2023 from Rs
2,203.96 crore as of 31 March 2022.
Inventories rose to Rs 1,031.00 crore as of 31 March 2023 from Rs 934.13
crore as of 31 March 2022. Sundry
debtors were lower at Rs 940.00 crore as of 31 March 2023 compared to Rs
1,091.52 crore as of 31 March 2022. Cash
and bank balance rose to Rs 200.00 crore as of 31 March 2023 from Rs 173.56
crore as of 31 March 2022. Investments
declined from Rs 28.29 crore as of 31 March 2022 to Rs 17.00 crore as of 31
March 2023.
PBDT
fell 43.10% to Rs 921 crore. Provision
for depreciation rose 25.81% to Rs 310 crore.
Fixed assets increased to Rs 5,848.00 crore as of 31 March 2023 from Rs
4,940.64 crore as of 31 March 2022.
Profit
before tax down 55.47% to Rs 611.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 66 crore,
compared to Rs 186.25 crore. Effective
tax rate was 10.80% compared to 13.57%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 54.03% to Rs
545.00 crore.
Equity
capital decreased from Rs 181.25 crore as of 31 March 2022 to Rs 181.00 crore
as of 31 March 2023 . Per share face
Value remained same at Rs 5.00.
Promoters’
stake was 44.07% as of 31 March 2023 ,compared to 44.19% as of 31 March 2022
.
Cash
flow from operating activities increased to Rs 1,310.00 crore for year ended
March 2023 from Rs 519.00 crore for year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 1,326.00 crore, compared to Rs
1,165.00 crore during the year ended March 2022.
The
scrip trades at Rs 539
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Aarti Industries : Consolidated
Results
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Particulars
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2303 (03)
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2203 (03)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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1,655.00
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1,755.64
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-6
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6,619.00
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6,085.51
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9
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OPM (%)
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15.2
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19.3
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16.5
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28.3
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OP
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251
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339.11
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-26
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1,089.00
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1,720.11
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-37
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Other Inc.
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1
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0.17
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488
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0
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0.77
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-
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PBIDT
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252
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339.28
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-26
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1,089.00
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1,720.88
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-37
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Interest
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33
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30.62
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8
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168
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102.33
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64
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PBDT
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219
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308.66
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-29
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921
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1,618.55
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-43
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Depreciation
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84
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77.23
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9
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310
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246.4
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26
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PBT
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135
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231.43
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-42
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611
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1372.15
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-55
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Share of Profit/(Loss) from Associates
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0
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0
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-
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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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135
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231.43
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-42
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611
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1372.15
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-55
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EO Income
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0
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0
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-
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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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135
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231.43
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-42
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611
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1372.15
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-55
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Taxation
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-14
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37.68
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LP
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66
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186.25
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-65
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PAT
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149
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193.75
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-23
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545
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1185.9
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-54
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Minority Interest (MI)
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0
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0.02
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-
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0
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0.23
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-
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Net profit
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149
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193.73
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-23
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545
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1185.67
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-54
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EPS (Rs)*
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#
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#
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15.0
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32.7
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Notes
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* EPS is on current equity of Rs 181.25 crore, Face value of Rs
5, 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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