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Results
10-Nov-23
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Analysis
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Tega Industries
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Robust performance
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Consolidated net sales (including other operating income) of Tega
Industries has increased 36.67% to Rs 377.46 crore. Sales of Consumables segment has gone up 20%
to Rs 331.52 crore (accounting for 88% of total sales). Sales of equipment segment was Rs 46.9 crore
(accounting for 12% of total sales). Operating profit margin has jumped from 19.59% to 21.65%, leading to 51.04%
rise in operating profit to Rs 81.71 crore.
Raw material cost as a % of total sales (net of stock adjustments)
decreased from 44.05% to 43.40%.
Employee cost decreased from 14.87% to 14.59%. Other expenses fell from 22.11% to
20.70%.
Other income fell 50.37% to Rs 3.35 crore.
PBIDT rose 39.79% to Rs 85.06 crore.
Provision for interest rose 83.37% to Rs 8.93 crore.
PBDT rose 35.99% to Rs 76.13 crore.
Provision for depreciation rose 43.36% to Rs 13.82 crore. Fixed assets increased to Rs 522.56 crore as
of 30 September 2023 from Rs 279.25 crore as of 30 September 2022. Intangible assets increased from Rs 61.14
crore to Rs 61.22 crore.
Profit before tax grew 34.46% to Rs 62.31 crore. Share of profit/loss was 20.45% higher at Rs
1.06 crore. Provision for tax was
expense of Rs 16.01 crore, compared to Rs 11.87 crore. Effective tax rate was 25.26% compared to
25.14%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 33.97% to Rs 47.36 crore.
Equity capital increased from Rs 66.29 crore as of 30 September 2022 to Rs
66.45 crore as of 30 September 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 74.88% as of 30 September 2023 compared to 79.17% as
of 30 September 2022 .
For year-to-date (YTD)
results analysis
Net sales (including other operating income) of Tega Industries has
increased 23.99% to Rs 645.54 crore.
Sales of Consumables segment has gone up 7% to Rs 555.48 crore
(accounting for 86% of total sales).
Sales of equipment segment was Rs 91.22 crore (accounting for 14% of
total sales).
Operating profit margin has declined from 19.27% to 18.75%, leading to
20.69% rise in operating profit to Rs 121.05 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 43.39% to 44.57%. Employee cost increased from 15.12% to
15.54%. Other expenses fell from 22.76%
to 21.95%.
Other income rose 230.84% to Rs 11.48 crore. PBIDT rose 27.72% to Rs 132.53 crore. Provision for interest rose 73.71% to Rs
17.11 crore. Loan funds rose to Rs
344.32 crore as of 30 September 2023 from Rs 227.02 crore as of 30 September
2022. Inventories rose to Rs 350.61
crore as of 30 September 2023 from Rs 271.90 crore as of 30 September
2022. Sundry debtors were higher at Rs
337.91 crore as of 30 September 2023 compared to Rs 218.70 crore as of 30
September 2022. Cash and bank balance
rose to Rs 64.16 crore as of 30 September 2023 from Rs 39.78 crore as of 30
September 2022. Investments rose to Rs
286.50 crore as of 30 September 2023 from Rs 205.58 crore as of 30 September
2022 .
PBDT rose 22.89% to Rs 115.42 crore.
Provision for depreciation rose 45.63% to Rs 27.35 crore. Fixed assets increased to Rs 522.56 crore as
of 30 September 2023 from Rs 279.25 crore as of 30 September 2022. Intangible assets increased from Rs 61.14
crore to Rs 61.22 crore.
Profit before tax grew 17.21% to Rs 88.07 crore. Share of profit/loss was 5.38% higher at Rs
1.96 crore. Provision for tax was
expense of Rs 21.28 crore, compared to Rs 18.6 crore. Effective tax rate was 23.64% compared to
24.16%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 17.72% to Rs 68.75 crore.
Equity capital increased from Rs 66.29 crore as of 30 September 2022 to Rs
66.45 crore as of 30 September 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 74.88% as of 30 September 2023 compared to 79.17% as
of 30 September 2022 .
The scrip is currently trading at Rs 1032
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Tega Industries : Consolidated
Results
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Particulars
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2309 (03)
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2209 (03)
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Var.(%)
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2309 (06)
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2209 (06)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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377.46
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276.19
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37
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645.54
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520.63
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24
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1213.97
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951.76
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28
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OPM (%)
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21.6
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19.6
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18.8
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19.3
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22.3
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19.2
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OP
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81.71
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54.1
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51
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121.05
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100.3
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21
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270.42
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182.85
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48
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Other Inc.
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3.35
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6.75
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-50
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11.48
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3.47
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231
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20.68
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24.2
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-15
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PBIDT
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85.06
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60.85
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40
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132.53
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103.77
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28
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291.1
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207.05
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41
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Interest
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8.93
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4.87
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83
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17.11
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9.85
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74
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18.12
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16.2
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12
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PBDT
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76.13
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55.98
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36
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115.42
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93.92
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23
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272.98
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190.85
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43
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Depreciation
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13.82
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9.64
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43
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27.35
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18.78
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46
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41.2
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38.7
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6
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PBT
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62.31
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46.34
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34
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88.07
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75.14
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17
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231.78
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152.15
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52
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Share of Profit/(Loss) from Associates
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1.06
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0.88
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20
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1.96
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1.86
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5
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4.32
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2.82
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53
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PBT before EO
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63.37
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47.22
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34
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90.03
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77
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17
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236.1
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154.97
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52
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EO Income
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0
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0
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0
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0
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0
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0
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PBT after EO
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63.37
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47.22
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90.03
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77
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236.1
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154.97
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Taxation
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16.01
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11.87
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35
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21.28
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18.6
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14
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52.07
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38.07
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37
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PAT
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47.36
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35.35
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34
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68.75
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58.4
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18
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184.03
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116.9
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57
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Minority Interest (MI)
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0
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0
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0
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0
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0
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0
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Net profit
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47.36
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35.35
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34
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68.75
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58.4
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18
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184.03
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116.9
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57
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EPS (Rs)*
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#
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#
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#
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#
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27.7
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17.6
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Notes
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* EPS is on current equity of Rs 66.29 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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Tega Industries : Consolidated
Segment Results
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% of (Total)
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2309 (03)
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2209 (03)
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Var.(%)
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% of (Total)
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2309 (06)
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2209 (06)
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Var.(%)
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% of (Total)
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2303 (12)
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2203 (12)
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Var.(%)
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Sales
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Consumables
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88
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331.52
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276.19
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20
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86
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555.48
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520.63
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7
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97
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1177.59
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951.76
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24
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Equipments
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12
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46.90
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0.00
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14
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91.22
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0.00
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3
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36.76
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0.00
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Total Reported Sales
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100
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378.42
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276.19
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37
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100
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646.70
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520.63
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24
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100
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1214.35
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951.76
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28
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Less: Inter segment revenues
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0.96
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0.00
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-
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1.17
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0.00
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-
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0.38
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0.00
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-
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Net Sales
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377.46
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276.19
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37
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645.54
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520.63
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24
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1213.97
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951.76
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28
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PBIT
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Consumables
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94
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77.21
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54.11
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43
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93
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112.71
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100.29
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12
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97
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263.07
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182.86
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44
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Equipments
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6
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4.52
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0.00
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28
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7
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8.40
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0.00
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28
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3
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7.52
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0.00
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28
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Total PBIT
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100
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81.73
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54.11
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51
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100
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121.11
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100.29
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21
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100
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270.59
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182.86
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48
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Less : Interest
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8.93
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4.87
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83
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17.11
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9.85
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74
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18.12
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16.20
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12
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Add: Other un-allcoable
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-9.43
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-2.02
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367
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-13.97
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-13.45
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4
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-16.38
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-11.68
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40
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PBT
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63.37
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47.22
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34
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90.03
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77.00
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17
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236.10
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154.97
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52
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