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Sigachi Industries consolidated net sales declined 0.18% to Rs 72.42 crore in Q4FY23 compared to Q4FY22. Operating profit margin has declined from 20.19% to 16.82%, leading to 16.86% decline in operating profit to Rs 12.18 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 50.10% to 42.90%. Employee cost increased from 7.53% to 17.39%. Other expenses fell from 22.68% to 22.53%.
Other income fell 10.40% to Rs 1.55 crore. PBIDT fell 16.18% to Rs 13.73 crore. Provision for interest rose 193.75% to Rs 1.41 crore.
PBDT fell 22.52% to Rs 12.32 crore. Provision for depreciation rose 147.50% to Rs 1.98 crore.
Profit before tax down 31.52% to Rs 10.34 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 3.02 crore, compared to Rs 3.46 crore. Effective tax rate was 29.21% compared to 22.91%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 37.11% to Rs 7.32 crore.
Equity capital stood at Rs 30.74 crore as of 31 March 2023 to Rs 30.74 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters' stake was 48.49% as of 31 March 2023 ,compared to 48.48% as of 31 March 2022.
Full year results analysis
Net sales (including other operating income) of Sigachi Industries has increased 20.68% to Rs 302.05 crore. Operating profit margin has declined from 21.19% to 19.44%, leading to 10.73% rise in operating profit to Rs 58.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.39% to 46.07%. Employee cost increased from 8.26% to 12.50%. Other expenses fell from 22.56% to 21.79%.
Other income rose 153.61% to Rs 6.67 crore. PBIDT rose 17.48% to Rs 65.4 crore. Provision for interest rose 266.67% to Rs 4.29 crore. Loan funds rose to Rs 44.54 crore as of 31 March 2023 from Rs 34.33 crore as of 31 March 2022. Inventories rose to Rs 46.60 crore as of 31 March 2023 from Rs 30.45 crore as of 31 March 2022. Sundry debtors were higher at Rs 80.17 crore as of 31 March 2023 compared to Rs 60.12 crore as of 31 March 2022. Cash and bank balance declined from Rs 69.38 crore as of 31 March 2022 to Rs 32.76 crore as of 31 March 2023. Investments stood at Rs 0.15 crore as of 31 March 2023 to Rs 0.15 crore as of 31 March 2022.
PBDT rose 12.13% to Rs 61.11 crore. Provision for depreciation rose 128.62% to Rs 6.63 crore. Fixed assets increased to Rs 156.53 crore as of 31 March 2023 from Rs 62.42 crore as of 31 March 2022. Intangible assets declined from Rs 0.71 crore to Rs 0.69 crore.
Profit before tax grew 5.58% to Rs 54.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 10.94 crore, compared to Rs 11.56 crore. Effective tax rate was 20.08% compared to 22.40%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 8.74% to Rs 43.54 crore.
Equity capital stood at Rs 30.74 crore as of 31 March 2023 to Rs 30.74 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters' stake was 48.49% as of 31 March 2023 ,compared to 48.48% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 29.02 crore for year ended March 2023 from Rs 5.85 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 100.72 crore, compared to Rs 24.33 crore during the year ended March 2022.
The scrip is currently trading at Rs 251
| Sigachi Industries : Consolidated Results |
| Particulars |
2203 (03) |
2103 (03) |
Var.(%) |
2303 (12) |
2203 (12) |
Var.(%) |
| Net Sales |
72.42 |
72.55 |
0 |
302.05 |
250.29 |
21 |
| OPM (%) |
16.8 |
20.2 |
|
19.4 |
21.2 |
|
| OP |
12.18 |
14.65 |
-17 |
58.73 |
53.04 |
11 |
| Other Inc. |
1.55 |
1.73 |
-10 |
6.67 |
2.63 |
154 |
| PBIDT |
13.73 |
16.38 |
-16 |
65.4 |
55.67 |
17 |
| Interest |
1.41 |
0.48 |
194 |
4.29 |
1.17 |
267 |
| PBDT |
12.32 |
15.9 |
-23 |
61.11 |
54.5 |
12 |
| Depreciation |
1.98 |
0.8 |
148 |
6.63 |
2.9 |
129 |
| PBT |
10.34 |
15.1 |
-32 |
54.48 |
51.6 |
6 |
| Share of Profit/(Loss) from Associates |
0 |
0 |
|
0 |
0 |
|
| PBT before EO |
10.34 |
15.1 |
-32 |
54.48 |
51.6 |
6 |
| EO Income |
0 |
0 |
|
0 |
0 |
|
| PBT after EO |
10.34 |
15.1 |
-32 |
54.48 |
51.6 |
6 |
| Taxation |
3.02 |
3.46 |
-13 |
10.94 |
11.56 |
-5 |
| PAT |
7.32 |
11.64 |
-37 |
43.54 |
40.04 |
9 |
| Minority Interest (MI) |
0 |
0 |
|
0 |
0 |
|
| Net profit |
7.32 |
11.64 |
-37 |
43.54 |
40.04 |
9 |
| EPS (Rs)* |
# |
# |
|
14.2 |
13.0 |
|
| Notes |
* EPS is on current equity of Rs 30.74 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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