Capitaline

Results 02-Jun-23

Analysis

Fluidomat

Sales up 85% on good operating show

Consolidated net sales (including other operating income) of Fluidomat for the quarter ended Mar 2023 has increased 28.62% to Rs 14.29 crore. Operating profit margin has jumped from 20.07% to 31.21%, leading to 100% rise in operating profit to Rs 4.46 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.42% to 37.83%. Employee cost decreased from 20.97% to 19.85%. Other expenses fell from 18.29% to 12.47%. Other income fell 58.54% to Rs 0.17 crore. PBIDT rose 75.38% to Rs 4.63 crore. Provision for interest remained nil. PBDT rose 75.38% to Rs 4.63 crore. Provision for depreciation fell 17.65% to Rs 0.14 crore. Profit before tax grew 81.78% to Rs 4.49 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 1.18 crore, compared to Rs 0.69 crore. Effective tax rate was 26.28% compared to 27.94%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 85.96% to Rs 3.31 crore.

Full year results analysis.

Net sales (including other operating income) of Fluidomat has increased 35.49% to Rs 46.16 crore. Operating profit margin has jumped from 18.14% to 26.73%, leading to 99.68% rise in operating profit to Rs 12.34 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 35.87% to 37.01%. Employee cost decreased from 27.52% to 22.49%. Other expenses fell from 18.35% to 14.14%.

Other income fell 19.62% to Rs 1.27 crore. PBIDT rose 75.39% to Rs 13.61 crore. Provision for interest remained nil. PBDT rose 75.39% to Rs 13.61 crore. Provision for depreciation rose 10.45% to Rs 0.74 crore. Profit before tax grew 81.52% to Rs 12.87 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 3.25 crore, compared to Rs 1.94 crore. Effective tax rate was 25.25% compared to 26.15%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 75.55% to Rs 9.62 crore.

Others

Equity capital stood at Rs 4.93 crore as of 31 March 2023 to Rs 4.93 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 53.59% as of 31 March 2023 ,compared to 53.46% as of 31 March 2022 . Promoters pledged stake was 0.65% as of 31 March 2023 ,compared to 0.65% as of 31 March 2022 .

Loan funds remained nil. Inventories rose to Rs 6.42 crore as of 31 March 2023 from Rs 4.78 crore as of 31 March 2022. Sundry debtors were higher at Rs 13.65 crore as of 31 March 2023 compared to Rs 10.71 crore as of 31 March 2022. Cash and bank balance rose to Rs 2.45 crore as of 31 March 2023 from Rs 2.02 crore as of 31 March 2022. Investments rose to Rs 2.99 crore as of 31 March 2023 from Rs 1.20 crore as of 31 March 2022 . Fixed assets declined from Rs 8.35 crore as of 31 March 2022 to Rs 7.27 crore as of 31 March 2023. Intangible assets declined from Rs 0.04 crore to Rs 0.02 crore.

Fluidomat : Consolidated Results

	Quarter ended			Year ended
Particulars	202303	202203	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	14.29	11.11	28.62	46.16	34.07	35.49
OPM (%)	31.21	20.07	1,114 bps	26.73	18.14	859 bps
OP	4.46	2.23	100.00	12.34	6.18	99.68
Other Inc.	0.17	0.41	-58.54	1.27	1.58	-19.62
PBIDT	4.63	2.64	75.38	13.61	7.76	75.39
Interest	0	0	-	0	0	-
PBDT	4.63	2.64	75.38	13.61	7.76	75.39
Depreciation	0.14	0.17	-17.65	0.74	0.67	10.45
PBT	4.49	2.47	81.78	12.87	7.09	81.52
Share of Profit/(Loss) from Associates	0	0	-	0	0	-
PBT before EO	4.49	2.47	81.78	12.87	7.09	81.52
EO Income	0	0	-	0	0.33	-
PBT after EO	4.49	2.47	81.78	12.87	7.42	73.45
Taxation	1.18	0.69	71.01	3.25	1.94	67.53
PAT	3.31	1.78	85.96	9.62	5.48	75.55
Minority Interest (MI)	0	0	-	0	0	-
Net profit	3.31	1.78	85.96	9.62	5.48	75.55
P/(L) from discontinued operations net of tax	-0.01	0	-	-0.01	0	-
Net profit after discontinued operations	3.3	1.78	85.39	9.61	5.48	75.36
EPS (Rs)*	6.71	3.61	85.96	19.51	10.61	83.94

* EPS is on current equity of Rs 4.93 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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