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Results
03-Aug-23
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Analysis
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AIA Engineering
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Net sales up 14.8% YoY to Rs 1239.6 cr in Q1FY2024
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On consolidated basis
Quarter ended June 2023 compared
with Quarter ended June 2022.
Net sales (including other operating income) of AIA Engineering has increased
14.81% to Rs 1239.58 crore.
Operating profit margin has jumped
from 22.89% to 27.67%, leading to 38.78% rise in operating profit to Rs 343.04
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 46.49% to 41.36%. Employee cost
increased from 3.22% to 3.41%. Other expenses fell from 28.60% to
26.42%. Power and Oil fuel cost rose from 7.47% to 7.89%.
Freight charges fell from 10.21% to 5.72%.
Other income rose 188.32% to Rs
59.51 crore. PBIDT rose 50.30% to Rs 402.55
crore. Provision for interest rose 588.07% to Rs 7.5
crore.
PBDT rose 48.10% to Rs 395.05
crore. Provision for depreciation rose 16.59% to Rs 24.25
crore.
Profit before tax grew 50.77% to Rs
370.80 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 98.28 crore, compared
to Rs 54.47 crore. Effective tax rate was 26.50% compared to 22.15%.
Minority interest decreased 82% to
Rs 0.18 crore. Net profit attributable to owners of the company
increased 42.98% to Rs 272.34 crore.
Promoters’ stake was 58.47% as of 30
June 2023 ,compared to 58.47% as of 30 June 2022 .
Full year results analysis.
Net sales (including other operating income) of AIA Engineering has increased
37.63% to Rs 4908.76 crore.
Operating profit margin has jumped
from 20.21% to 25.27%, leading to 72.08% rise in operating profit to Rs 1,240.64
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 46.79% to 41.79%. Employee cost
decreased from 3.54% to 3.11%. Other expenses fell from 31.37% to
29.70%. Power and Oil fuel cost fell from 8.34% to 7.71%.
Freight charges fell from 10.71% to 9.76%.
Other income rose 50.07% to Rs
234.54 crore. PBIDT rose 68.16% to Rs 1475.18
crore. Provision for interest rose 422.08% to Rs 20.1
crore. Loan funds rose to Rs 502.55 crore as of 31 March 2023 from
Rs 9.83 crore as of 31 March 2022. Inventories declined from Rs
1,226.01 crore as of 31 March 2022 to Rs 1,218.02 crore as of 31 March
2023. Sundry debtors were higher at Rs 860.84 crore as of 31 March
2023 compared to Rs 800.15 crore as of 31 March 2022. Cash and bank
balance rose to Rs 805.99 crore as of 31 March 2023 from Rs 506.10 crore as of
31 March 2022. Investments rose to Rs 2,254.32 crore as of 31 March
2023 from Rs 1,055.41 crore as of 31 March 2022 .
PBDT rose 66.60% to Rs 1455.08
crore. Provision for depreciation rose 1% to Rs 93.04
crore. Fixed assets increased to Rs 1,087.09 crore as of 31 March
2023 from Rs 980.34 crore as of 31 March 2022. Intangible assets
increased from Rs 19.89 crore to Rs 23.10 crore.
Profit before tax grew 74.34% to Rs
1,362.04 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 305.54 crore, compared
to Rs 161.65 crore. Effective tax rate was 22.43% compared to
20.69%.
Net profit attributable to owners of
the company increased 70.40% to Rs 1,055.93 crore.
Equity capital stood at Rs 18.86
crore as of 31 March 2023 to Rs 18.86 crore as of 31 March 2022. Per
share face Value remained same at Rs 2.00.
Promoters’ stake was 58.47% as of 31
March 2023 ,compared to 58.47% as of 31 March 2022 .
Cash flow from operating activities
has turned positive Rs 867.72 crore for year ended March 2023 from negative Rs
39.55 crore for year ended March 2022. Cash flow used in acquiring
fixed assets during the year ended March 2023 stood at Rs 194.78 crore,
compared to Rs 125.47 crore during the year ended March 2022.
Others:
Order
Book: Order book as at 1st July 2023: Rs. 661 cr
| AIA Engineering : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,239.58 | 1,079.70 | 14.81 | 4,908.76 | 3,566.55 | 37.63 | | OPM (%) | 27.67 | 22.89 | 478 bps | 25.27 | 20.21 | 506 bps | | OP | 343.04 | 247.19 | 38.78 | 1,240.64 | 720.95 | 72.08 | | Other Inc. | 59.51 | 20.64 | 188.32 | 234.54 | 156.29 | 50.07 | | PBIDT | 402.55 | 267.83 | 50.30 | 1,475.18 | 877.24 | 68.16 | | Interest | 7.50 | 1.09 | 588.07 | 20.10 | 3.85 | 422.08 | | PBDT | 395.05 | 266.74 | 48.10 | 1,455.08 | 873.39 | 66.60 | | Depreciation | 24.25 | 20.8 | 16.59 | 93.04 | 92.12 | 1.00 | | PBT | 370.80 | 245.94 | 50.77 | 1362.04 | 781.27 | 74.34 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 370.8 | 245.94 | 50.77 | 1362.04 | 781.27 | 74.34 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 370.8 | 245.94 | 50.77 | 1362.04 | 781.27 | 74.34 | | Taxation | 98.28 | 54.47 | 80.43 | 305.54 | 161.65 | 89.01 | | PAT | 272.52 | 191.47 | 42.33 | 1056.5 | 619.62 | 70.51 | | Minority Interest (MI) | 0.18 | 1 | -82.00 | 0.57 | -0.06 | PL | | Net profit | 272.34 | 190.47 | 42.98 | 1055.93 | 619.68 | 70.40 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 272.34 | 190.47 | 42.98 | 1055.93 | 619.68 | 70.40 | | EPS (Rs)* | 28.87 | 20.19 | 42.98 | 111.95 | 65.70 | 70.40 | | | * EPS is on current equity of Rs 18.86 crore, Face value of Rs 2, 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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