Full year results analysis

Net sales (including other operating income) of Honeywell Automation India has increased 16.93% to Rs 3,447.59 crore.  Operating profit margin has jumped from 14.69% to 15.05%, leading to 19.77% rise in operating profit to Rs 518.86 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 42.31% to 42.44%.   Purchase of finished goods cost rose from 10.08% to 10.96%.   Employee cost decreased from 18.91% to 18.07%.   Other expenses fell from 14.00% to 13.55%.   Other income up 55.76% to Rs 128.25 crore.  PBIDT rose 25.51% to Rs 647.11 crore.  Provision for interest fell 27.87% to Rs 3.96 crore.   PBDT rose 26.09% to Rs 643.15 crore.  Provision for depreciation down 1.09% to Rs 51.89 crore.   Profit before tax grew 29.20% to Rs 591.26 crore.  Provision for tax was expense of Rs 153.25 crore, compared to Rs 118.49 crore.  Effective tax rate was 25.92% compared to 25.89%. Profit after tax rose 29.16% to Rs 438.01 crore.  

Others

BoD recommended a dividend @ Rs. 95 /- (Rupees Ninety-Five only) per Equity share of face value Rs. 10/- each for the financial year ended on March 31, 2023 to be approved by the shareholders at the Annual General Meeting of the Company to be held on August 11, 2023. The said dividend, if declared at the ensuing Annual General Meeting of the Company shall be paid on August 25, 2023.

Equity capital stood at Rs 8.84 crore as of 31 March 2023 to Rs 8.84 crore as of 31 March 2022.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 75.00% as of 31 March 2023 ,compared to 75.00% as of 31 March 2022 .  

Loan funds declined from Rs 55.74 crore as of 31 March 2022 to Rs 36.34 crore as of 31 March 2023.  Inventories rose to Rs 164.65 crore as of 31 March 2023 from Rs 98.61 crore as of 31 March 2022.  Sundry debtors were higher at Rs 937.76 crore as of 31 March 2023 compared to Rs 675.13 crore as of 31 March 2022.  Cash and bank balance rose to Rs 2,379.51 crore as of 31 March 2023 from Rs 2,006.22 crore as of 31 March 2022.  Fixed assets declined from Rs 182.86 crore as of 31 March 2022 to Rs 153.24 crore as of 31 March 2023.  Intangible assets declined from Rs 0.03 crore to Rs 0.02 crore.