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Vesuvius India
standalone net sales increased 19.64% to Rs 416.79 crore in Q3FY24 compared to
Q3FY23. Operating profit margin has jumped from 11.35% to 19.20%, leading to
102.40% rise in operating profit to Rs 80.01 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 38.21% to 36.93%. Purchase of finished goods cost fell from
22.80% to 18.86%. Employee cost
decreased from 7.16% to 6.75%. Other
expenses fell from 20.61% to 18.77%.
Other income up
13.68% to Rs 7.48 crore. PBIDT rose
89.74% to Rs 87.49 crore. Provision for
interest remained nil.
PBDT rose 89.11% to
Rs 87.2 crore. Provision for
depreciation rose 22.18% to Rs 10.74 crore.
Profit before tax
grew 104.88% to Rs 76.46 crore.
Provision for tax was expense of Rs 19.39 crore, compared to Rs 9.68
crore. Effective tax rate was 25.36%
compared to 25.94%.
Profit after tax rose
106.48% to Rs 57.07 crore.
Promoters’ stake was
55.57% as of 31 December 2023 ,compared to 55.57% as of 31 December 2022.
Full year results analysis
Net sales of Vesuvius
India has increased 19% to Rs 1603.13 crore.
Operating profit margin has jumped from 12.2% to 17.9%, leading to 75%
rise in operating profit to Rs 286.85 crore.
Other income was up
53% to Rs 34.9 crore. PBIDT rose 72% to
Rs 321.75 crore. Provision for interest
was Rs 43 lakh compared to nil.
PBDT rose 72% to Rs
321.32 crore. Provision for depreciation
rose 20% to Rs 35.92 crore.
Profit before tax
grew 82% to Rs 285.4 crore. Provision
for tax was expense of Rs 72.46 crore compared to Rs 40.07 crore. Effective tax rate was 25% compared to 26%.
Profit after tax rose
82% to Rs 212.94 crore.
The scrip is
currently trading at Rs 3665
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Vesuvius India: Result
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2312 (03)
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2212 (03)
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Var.(%)
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2312 (12)
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2212 (12)
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Var(%)
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Net Sales
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416.79
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348.37
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20
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1603.13
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1342.58
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19
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OPM(%)
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19.2
|
11.3
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17.9
|
12.2
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OP
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80.01
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39.53
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102
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286.85
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163.86
|
75
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Other Income
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7.48
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6.58
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14
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34.90
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22.86
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53
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PBIDT
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87.49
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46.11
|
90
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321.75
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186.72
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72
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Interest
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0.29
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0.00
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0.43
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0.00
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PBDT
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87.20
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46.11
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89
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321.32
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186.72
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72
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Depreciation
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10.74
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8.79
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22
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35.92
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29.86
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20
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PBT
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76.46
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37.32
|
105
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285.40
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156.86
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82
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EO
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0.00
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0.00
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0.00
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0.00
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PBT after EO
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76.46
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37.32
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105
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285.40
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156.86
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82
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Total Tax provision
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19.39
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9.68
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100
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72.46
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40.07
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81
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PAT
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57.07
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27.64
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106
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212.94
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116.79
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82
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EPS*
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#
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#
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104.9
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57.5
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* Annualized On Current
Equity Of Rs 20.30 Crore of face value of Rs 10 each
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# EPS not annualised due to
seasonality of the business
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EO: Extraordinary Items
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EPS Is Calculated After
Excluding EO And Relevant Tax
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Figures In Rs Crore
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Source: Capitaline Database
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