Results 11-Aug-23
Analysis
ITL Industries
OP down 6% despite higher sales dragged by 190 bps fall in OPM
Consolidated net sales (including other operating income) of ITL Industries for the quarter ended Jun 2023 has increased 19.15% to Rs 34.41 crore. Operating profit margin has declined from 9.28% to 7.35%, leading to 5.60% decline in operating profit to Rs 2.53 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 42.26% to 41.02%. Purchase of finished goods cost rose from 28.14% to 30.26%. Employee cost decreased from 12.40% to 11.66%. Other expenses rose from 7.60% to 8.67%. Other income rose 41.38% to Rs 0.41 crore. PBIDT fell 1.01% to Rs 2.94 crore. Provision for interest fell 13.33% to Rs 0.39 crore. PBDT rose 1.19% to Rs 2.55 crore. Provision for depreciation fell 10.81% to Rs 0.33 crore. Profit before tax grew 3.26% to Rs 2.22 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 0.4 crore, compared to debit of Rs 0.4 crore. Effective tax rate was 18.02% compared to 18.60%. Net profit attributable to owners of the company increased 2.84% to Rs 1.81 crore.
Sales of Machine Manufactruing segment has gone up 19.54% to Rs 24.88 crore (accounting for 66.15% of total sales). Sales of Trading Activities segment has gone up 22.72% to Rs 12.73 crore (accounting for 33.85% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 0.36% to Rs 2.61 crore. PBIT of Machine Manufactruing segment fell 10.50% to Rs 1.86 crore (accounting for 71.02% of total PBIT). PBIT of Trading Activities segment rose 42.87% to Rs 0.76 crore (accounting for 28.98% of total PBIT).
PBIT margin of Machine Manufactruing segment fell from 9.96% to 7.46%. PBIT margin of Trading Activities segment rose from 5.11% to 5.95%. Overall PBIT margin fell from 8.35% to 6.95%.
Promoters’ stake was 44.98% as of 30 June 2023 ,compared to 44.98% as of 30 June 2022 .
ITL Industries : Consolidated Results
Quarter ended
Year ended
Particulars
202306
202206
Var.(%)
202303
202203
Var.(%)
Net Sales (including other operating income)
34.41
28.88
19.15
144.02
113.51
26.88
OPM (%)
7.35
9.28
-193 bps
7.66
8.14
-48 bps
OP
2.53
2.68
-5.60
11.03
9.24
19.37
Other Inc.
0.41
0.29
41.38
2.49
1.77
40.68
PBIDT
2.94
2.97
-1.01
13.52
11.01
22.80
Interest
0.39
0.45
-13.33
1.65
1.47
12.24
PBDT
2.55
2.52
1.19
11.87
9.54
24.42
Depreciation
0.33
0.37
-10.81
1.28
1.45
-11.72
PBT
2.22
2.15
3.26
10.59
8.09
30.90
Share of Profit/(Loss) from Associates
0
0
-
0
0
-
PBT before EO
2.22
2.15
3.26
10.59
8.09
30.90
EO Income
0
0
-
0
0
-
PBT after EO
2.22
2.15
3.26
10.59
8.09
30.90
Taxation
0.4
0.4
0
2.82
2.09
34.93
PAT
1.82
1.75
4.00
7.77
6
29.50
Minority Interest (MI)
0.01
-0.01
PL
0.06
0.12
-50.00
Net profit
1.81
1.76
2.84
7.71
5.88
31.12
P/(L) from discontinued operations net of tax
0
0
-
0
0
-
Net profit after discontinued operations
1.81
1.76
2.84
7.71
5.88
31.12
EPS (Rs)*
5.65
5.49
2.84
24.06
18.35
31.12
* EPS is on current equity of Rs 3.20 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
ITL Industries : Consolidated Segment Results
Quarter ended
Year ended
% of (Total)
202306
202206
Var.(%)
% of (Total)
202303
202203
Var.(%)
Sales
Machine Manufactruing
66.15
24.88
20.81
19.54
67.79
103.94
83.72
24.14
Trading Activities
33.85
12.73
10.38
22.72
32.21
49.38
36.58
35.02
Total Reported Sales
100.00
37.61
31.19
20.60
100.00
153.32
120.30
27.45
Less: Inter segment revenues
0.00
2.02
-
6.81
5.01
35.86
Net Sales
100.00
37.61
29.17
28.95
100.00
146.51
115.29
27.09
PBIT
Machine Manufactruing
71.02
1.86
2.07
-10.50
76.98
9.43
7.38
27.82
Trading Activities
28.98
0.76
0.53
42.87
23.02
2.82
2.18
29.13
Total PBIT
100.00
2.61
2.60
0.36
100.00
12.25
9.57
28.12
Less : Interest
0.39
0.45
-12.32
1.65
1.47
12.37
Add: Other un-allcoable
0.00
0.00
-
0.00
0.00
-
PBIT Margin(%)
Machine Manufactruing
7.46
9.96
-250.30
9.08
8.82
26.09
Trading Activities
5.95
5.11
83.84
5.71
5.97
-26.04
PBT
100.00
2.22
2.15
3.00
100.00
10.60
8.09
30.98
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