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Results
10-Nov-23
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Analysis
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Precision Wires India
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Sales up 14%, net up 12%
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Standalone net sales (including other operating income) of Precision Wires India for the quarter ended Sep 2023 has increased 14.24% to Rs 829.44 crore. Operating profit margin has declined from 4.26% to 4.24%, leading to 13.85% rise in operating profit to Rs 35.18 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 90.51% to 90.83%. Purchase of finished goods cost rose from 0.01% to 0.02%. Employee cost decreased from 1.21% to 1.20%. Other expenses fell from 3.88% to 3.60%. Power and Oil fuel cost fell from 1.20% to 1.17%. PBIDT rose 13.85% to Rs 35.18 crore. Provision for interest up 9.90% to Rs 8.66 crore. PBDT rose 15.20% to Rs 26.52 crore. Provision for depreciation rose 24.48% to Rs 4.22 crore. Profit before tax grew 13.60% to Rs 22.30 crore. Provision for tax was expense of Rs 5.95 crore, compared to Rs 4.97 crore. Effective tax rate was 26.68% compared to 25.32%. Profit after tax rose 11.53% to Rs 16.35 crore. For year-to-date (YTD) results analysis
Net sales (including other operating income) of Precision Wires India for the half year ended Sep 2023 has increased 5.15% to Rs 1,632.18 crore.
Operating profit margin has jumped from 4.17% to 4.38%, leading to 10.49% rise in operating profit to Rs 71.44 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 91.17% to 91.08%. Employee cost increased from 1.12% to 1.20%. Other expenses fell from 3.47% to 3.34%. Power and Oil fuel cost rose from 1.05% to 1.11%. PBIDT rose 10.49% to Rs 71.44 crore. Provision for interest up 21.28% to Rs 18.69 crore. PBDT rose 7.11% to Rs 52.75 crore. Provision for depreciation rose 17.83% to Rs 8.26 crore. Profit before tax grew 5.33% to Rs 44.49 crore. Provision for tax was expense of Rs 11.6 crore, compared to Rs 10.75 crore. Effective tax rate was 26.07% compared to 25.45%. Profit after tax rose 4.45% to Rs 32.89 crore. Equity capital increased from Rs 11.56 crore as of 30 September 2022 to Rs 17.87 crore as of 30 September 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 57.93% as of 30 September 2023 ,compared to 59.67% as of 30 September 2022 . Loan funds rose to Rs 47.56 crore as of 30 September 2023 from Rs 20.23 crore as of 30 September 2022. Inventories rose to Rs 208.07 crore as of 30 September 2023 from Rs 185.44 crore as of 30 September 2022. Sundry debtors were higher at Rs 429.18 crore as of 30 September 2023 compared to Rs 418.37 crore as of 30 September 2022. Cash and bank balance rose to Rs 44.79 crore as of 30 September 2023 from Rs 26.36 crore as of 30 September 2022. Investments rose to Rs 52.60 crore as of 30 September 2023 from Rs 2.60 crore as of 30 September 2022 . Fixed assets increased to Rs 143.66 crore as of 30 September 2023 from Rs 106.32 crore as of 30 September 2022. Intangible assets declined from Rs 0.10 crore to Rs 0.02 crore.
| Precision Wires India : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 829.44 | 726.03 | 14.24 | 1,632.18 | 1,552.19 | 5.15 | 3,055.47 | 2,690.04 | 13.58 | | OPM (%) | 4.24 | 4.26 | -1 bps | 4.38 | 4.17 | 21 bps | 4.20 | 4.62 | -42 bps | | OP | 35.18 | 30.90 | 13.85 | 71.44 | 64.66 | 10.49 | 128.36 | 124.31 | 3.26 | | Other Inc. | 0.00 | 0.00 | - | 0.00 | 0.00 | - | 0.00 | 0.00 | - | | PBIDT | 35.18 | 30.90 | 13.85 | 71.44 | 64.66 | 10.49 | 128.36 | 124.31 | 3.26 | | Interest | 8.66 | 7.88 | 9.90 | 18.69 | 15.41 | 21.28 | 32.91 | 24.9 | 32.17 | | PBDT | 26.52 | 23.02 | 15.20 | 52.75 | 49.25 | 7.11 | 95.45 | 99.41 | -3.98 | | Depreciation | 4.22 | 3.39 | 24.48 | 8.26 | 7.01 | 17.83 | 14.17 | 15.17 | -6.59 | | PBT | 22.30 | 19.63 | 13.60 | 44.49 | 42.24 | 5.33 | 81.28 | 84.24 | -3.51 | | PBT before EO | 22.3 | 19.63 | 13.60 | 44.49 | 42.24 | 5.33 | 81.28 | 84.24 | -3.51 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 22.3 | 19.63 | 13.60 | 44.49 | 42.24 | 5.33 | 81.28 | 84.24 | -3.51 | | Taxation | 5.95 | 4.97 | 19.72 | 11.6 | 10.75 | 7.91 | 21.79 | 21.23 | 2.64 | | PAT | 16.35 | 14.66 | 11.53 | 32.89 | 31.49 | 4.45 | 59.49 | 63.01 | -5.59 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 16.35 | 14.66 | 11.53 | 32.89 | 31.49 | 4.45 | 59.49 | 63.01 | -5.59 | | EPS (Rs)* | 0.92 | 0.82 | 11.53 | 1.84 | 1.76 | 4.45 | 3.33 | 3.53 | -5.59 | | | * EPS is on current equity of Rs 17.87 crore, Face value of Rs 1, 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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