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Results
08-Feb-24
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Analysis
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Aarti Industries
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OP down 10%
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Aarti
Industries consolidated net sales increased 3.86% to Rs 1732 crore in Q3FY24
compared to Q3FY23. Operating profit margin has declined from 17.31% to 15.01%,
leading to 9.93% decline in operating profit to Rs 260.00 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 52.80% to 59.94%. Purchase of finished goods cost fell from
7.30% to 1.59%. Employee cost increased
from 5.34% to 6.28%. Other expenses
fell from 17.91% to 16.34%.
Other
income rose 2,757.14% to Rs 8 crore.
PBIDT fell 7.25% to Rs 268 crore.
Provision for interest rose 14.97% to Rs 54 crore.
PBDT
fell 11.57% to Rs 214 crore. Provision
for depreciation rose 18.15% to Rs 97 crore.
Profit
before tax down 26.82% to Rs 117.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 7 crore,
compared to debit of Rs 23.36 crore.
Effective tax rate was negative 5.98% compared to 14.61%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 9.18% to Rs
124.00 crore.
Promoters’
stake was 43.55% as of 31 December 2023 ,compared to 44.16% as of 31 December
2022 . Promoters pledged stake was 2.38%
as of 31 December 2023
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Aarti Industries has declined 7.31%
to Rs 4600 crore.
Operating
profit margin has declined from 16.87% to 15.07%, leading to 17.22% decline in
operating profit to Rs 693.00 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
52.54% to 58.25%. Purchase of finished
goods cost fell from 5.00% to 2.88%.
Employee cost increased from 5.64% to 6.57%. Other expenses fell from 19.76% to 17.26%.
Other
income rose 1,076.47% to Rs 8 crore.
PBIDT fell 16.34% to Rs 701 crore.
Provision for interest rose 12.41% to Rs 152 crore.
PBDT
fell 21.87% to Rs 549 crore. Provision
for depreciation rose 23.05% to Rs 279 crore.
Profit
before tax down 43.27% to Rs 270.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 15 crore,
compared to debit of Rs 79.36 crore.
Effective tax rate was negative 5.56% compared to 16.68%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 28.13% to Rs
285.00 crore.
Promoters’
stake was 43.55% as of 31 December 2023 ,compared to 44.16% as of 31 December
2022 . Promoters pledged stake was 2.38%
as of 31 December 2023
The
scrip trades at Rs 634
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Aarti Industries : Consolidated
Results
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Particulars
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2312 (03)
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2212 (03)
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Var.(%)
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2312 (09)
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2212 (09)
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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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1,732.00
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1,667.68
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4
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4,600.00
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4,962.97
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-7
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6,619.00
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6,085.51
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9
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OPM (%)
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15.0
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17.3
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15.1
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16.9
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16.5
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28.3
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OP
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260
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288.68
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-10
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693
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837.19
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-17
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1,089.00
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1,720.11
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-37
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Other Inc.
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8
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0.28
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999
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8
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0.68
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999
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0
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0.77
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-
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PBIDT
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268
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288.96
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-7
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701
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837.87
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-16
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1,089.00
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1,720.88
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-37
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Interest
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54
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46.97
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15
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152
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135.22
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12
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168
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102.33
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64
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PBDT
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214
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241.99
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-12
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549
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702.65
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-22
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921
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1,618.55
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-43
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Depreciation
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97
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82.1
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18
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279
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226.74
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23
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310
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246.4
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26
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PBT
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117
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159.89
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-27
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270
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475.91
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-43
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611
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1372.15
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-55
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Share of Profit/(Loss) from Associates
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0
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0
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-
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0
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0
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-
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0
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0
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-
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PBT before EO
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117
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159.89
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-27
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270
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475.91
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-43
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611
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1372.15
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-55
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EO Income
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0
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0
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-
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0
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0
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-
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0
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0
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-
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PBT after EO
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117
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159.89
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-27
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270
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475.91
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-43
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611
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1372.15
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-55
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Taxation
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-7
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23.36
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LP
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-15
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79.36
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LP
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66
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186.25
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-65
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PAT
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124
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136.53
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-9
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285
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396.55
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-28
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545
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1185.9
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-54
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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0
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0.23
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-
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Net profit
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124
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136.53
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-9
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285
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396.55
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-28
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545
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1185.67
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-54
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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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15.0
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32.7
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Notes
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* EPS is on current equity of Rs 181.25 crore, Face value of Rs
5, 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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