For
the quarter ending March 2023, consolidated Net sales (including other operating income) of NDR Auto Components has increased 63.66% to Rs 130.26 crore compared to quarter ended Mar 2022. Operating profit margin has jumped from 7.20% to 8.32%, leading to 89.18% rise in operating profit to Rs 10.84 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 78.43% to 77.30%. Employee cost decreased from 3.30% to 2.72%. Other expenses rose from 11.06% to 11.47%. Other income rose 91.10% to Rs 2.79 crore. PBIDT rose 89.57% to Rs 13.63 crore. Provision for interest rose 48.65% to Rs 0.55 crore. Loan funds rose to Rs 33.72 crore as of 31 March 2023 from Rs 12.97 crore as of 31 March 2022. Inventories rose to Rs 39.34 crore as of 31 March 2023 from Rs 21.26 crore as of 31 March 2022. Sundry debtors were higher at Rs 31.10 crore as of 31 March 2023 compared to Rs 30.46 crore as of 31 March 2022. Cash and bank balance rose to Rs 51.53 crore as of 31 March 2023 from Rs 51.45 crore as of 31 March 2022. Investments rose to Rs 50.51 crore as of 31 March 2023 from Rs 42.81 crore as of 31 March 2022 .
PBDT rose 91.79% to Rs 13.08 crore. Provision for depreciation rose 43.27% to Rs 2.98 crore. Fixed assets increased to Rs 146.66 crore as of 31 March 2023 from Rs 79.18 crore as of 31 March 2022. Intangible assets increased from Rs 0.15 crore to Rs 0.22 crore.
Profit before tax grew 113.08% to Rs 10.10 crore. Share of profit/loss was 2.38% lower at Rs 2.46 crore. Provision for tax was expense of Rs 2.6 crore, compared to Rs 1.19 crore. Effective tax rate was 20.70% compared to 16.39%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 64.09% to Rs 9.96 crore. Equity capital stood at Rs 5.95 crore as of 31 March 2023 to Rs 5.95 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 73.95% as of 31 March 2023 ,compared to 73.95% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of NDR Auto Components has increased 68.90% to Rs 392.78 crore. Operating profit margin has jumped from 5.99% to 8.08%, leading to 127.69% rise in operating profit to Rs 31.74 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 76.06% to 75.65%. Employee cost decreased from 3.92% to 3.14%. Other expenses fell from 14.03% to 13.15%. Other income fell 18.05% to Rs 6.31 crore. PBIDT rose 75.83% to Rs 38.05 crore. Provision for interest rose 145.21% to Rs 1.79 crore. Loan funds rose to Rs 33.72 crore as of 31 March 2023 from Rs 12.97 crore as of 31 March 2022. Inventories rose to Rs 39.34 crore as of 31 March 2023 from Rs 21.26 crore as of 31 March 2022. Sundry debtors were higher at Rs 31.10 crore as of 31 March 2023 compared to Rs 30.46 crore as of 31 March 2022. Cash and bank balance rose to Rs 51.53 crore as of 31 March 2023 from Rs 51.45 crore as of 31 March 2022. Investments rose to Rs 50.51 crore as of 31 March 2023 from Rs 42.81 crore as of 31 March 2022 .
PBDT rose 73.41% to Rs 36.26 crore. Provision for depreciation rose 18.42% to Rs 8.68 crore. Fixed assets increased to Rs 146.66 crore as of 31 March 2023 from Rs 79.18 crore as of 31 March 2022. Intangible assets increased from Rs 0.15 crore to Rs 0.22 crore.
Profit before tax grew 103.09% to Rs 27.58 crore. Share of profit/loss was 63.52% higher at Rs 7.62 crore. Provision for tax was expense of Rs 7.09 crore, compared to Rs 3.35 crore. Effective tax rate was 20.14% compared to 18.37%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 88.78% to Rs 28.11 crore.
Equity capital stood at Rs 5.95 crore as of 31 March 2023 to Rs 5.95 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 73.95% as of 31 March 2023 ,compared to 73.95% as of 31 March 2022 .
Other Highlights
Board
recommended dividend of Rs 5 per Equity share of Rs 10 each of the Company for
the year ended 31st March, 2023.
Board
recommended issue of fully paid bonus share in ratio of 1:1, by capitalizing
sums out of the free reserves and other permitted reserves of the Company.
Consequent
to the said issue of bonus shares, Issued, subscribed and paid up capital of
the Company shall stand increased to a sum of Rs 1,189.26 lakhs by capitalizing
a sum of Rs. 594.63 lakhs from free reserves and/or permitted reserves. In
order to execute the bonus issue, the board has also recommended to increase
the authorised share capital of the Company to Rs 24 crore (2,40,00,000 equity
shares of Rs 10 each).