For the quarter ending Dec
2023, consolidated Net sales (including other operating income) of Federal-Mogul Goetze (India) has increased 5.44% to Rs 414.75 crore compared to quarter ended Dec 2022. Operating profit margin has declined from 14.08% to 11.47%, leading to 14.08% decline in operating profit to Rs 47.59 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 35.55% to 35.50%. Purchase of finished goods cost fell from 1.53% to 0.13%. Employee cost increased from 21.25% to 24.70%. Other expenses fell from 27.67% to 27.65%. Other income rose 156.69% to Rs 9.78 crore. PBIDT fell 3.09% to Rs 57.37 crore. Provision for interest rose 53.16% to Rs 1.21 crore.
PBDT fell 3.85% to Rs 56.16 crore. Provision for depreciation fell 0.51% to Rs 21.3 crore.
Profit before tax down 5.78% to Rs 34.86 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.23 crore, compared to Rs 11.14 crore. Effective tax rate was 26.48% compared to 30.11%.
Minority interest decreased 16.06% to Rs 1.15 crore. Net profit attributable to owners of the company decreased 0.04% to Rs 24.48 crore. Promoters’ stake was 74.98% as of 31 December 2023 ,compared to 74.98% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Federal-Mogul Goetze (India) has increased 3.54% to Rs 1267.77 crore.
Operating profit margin has jumped from 12.73% to 13.10%, leading to 6.52% rise in operating profit to Rs 166.10 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 38.26% to 37.16%. Purchase of finished goods cost fell from 1.30% to 0.27%. Employee cost increased from 20.75% to 22.18%. Other expenses rose from 26.88% to 27.23%. Other income rose 100.88% to Rs 22.82 crore. PBIDT rose 12.93% to Rs 188.92 crore. Provision for interest rose 22.61% to Rs 3.47 crore.
PBDT rose 12.76% to Rs 185.45 crore. Provision for depreciation fell 0.63% to Rs 63.11 crore.
Profit before tax grew 21.19% to Rs 122.34 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 32.14 crore, compared to Rs 27.78 crore. Effective tax rate was 26.27% compared to 27.52%.Minority interest decreased 8.29% to Rs 3.65 crore. Net profit attributable to owners of the company increased 25.09% to Rs 86.55 crore.
Promoters’ stake was 74.98% as of 31 December 2023 ,compared to 74.98% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Federal-Mogul Goetze (India) has increased 21.71% to Rs 1634.14 crore. Operating profit margin has jumped from 12.14% to 12.81%, leading to 28.41% rise in operating profit to Rs 209.28 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.43% to 38.58%. Employee cost decreased from 24.37% to 21.05%. Other expenses fell from 27.70% to 26.31%. Other income rose 116.37% to Rs 19.3 crore. PBIDT rose 32.97% to Rs 228.58 crore. Provision for interest fell 9.58% to Rs 3.87 crore. Loan funds declined from Rs 8.93 crore as of 31 March 2022 to Rs 8.30 crore as of 31 March 2023. Inventories rose to Rs 195.73 crore as of 31 March 2023 from Rs 185.71 crore as of 31 March 2022. Sundry debtors were higher at Rs 272.36 crore as of 31 March 2023 compared to Rs 266.17 crore as of 31 March 2022. Cash and bank balance rose to Rs 330.04 crore as of 31 March 2023 from Rs 185.99 crore as of 31 March 2022. Investments rose to Rs 1.57 crore as of 31 March 2023 from Rs 1.56 crore as of 31 March 2022 .
PBDT rose 34.06% to Rs 224.71 crore. Provision for depreciation fell 3.89% to Rs 83.67 crore. Fixed assets increased to Rs 592.90 crore as of 31 March 2023 from Rs 575.99 crore as of 31 March 2022. Intangible assets declined from Rs 0.76 crore to Rs 0.08 crore.
Profit before tax grew 75.07% to Rs 141.04 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 33.66 crore, compared to Rs 21.74 crore. Effective tax rate was 23.87% compared to 26.99%.
Minority interest increased 36.19% to Rs 6.51 crore. Net profit attributable to owners of the company increased 86.66% to Rs 100.87 crore.
Equity capital stood at Rs 55.63 crore as of 31 March 2023 to Rs 55.63 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.98% as of 31 March 2023 ,compared to 74.98% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 210.39 crore for year ended March 2023 from Rs 110.67 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 100.12 crore, compared to Rs 95.18 crore during the year ended March 2022.
| Federal-Mogul Goetze (India) : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
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| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 414.75 | 393.34 | 5.44 | 1,267.77 | 1,224.44 | 3.54 | 1,634.14 | 1,342.62 | 21.71 | | OPM (%) | 11.47 | 14.08 | -261 bps | 13.10 | 12.73 | 37 bps | 12.81 | 12.14 | 67 bps | | OP | 47.59 | 55.39 | -14.08 | 166.10 | 155.93 | 6.52 | 209.28 | 162.98 | 28.41 | | Other Inc. | 9.78 | 3.81 | 156.69 | 22.82 | 11.36 | 100.88 | 19.30 | 8.92 | 116.37 | | PBIDT | 57.37 | 59.20 | -3.09 | 188.92 | 167.29 | 12.93 | 228.58 | 171.90 | 32.97 | | Interest | 1.21 | 0.79 | 53.16 | 3.47 | 2.83 | 22.61 | 3.87 | 4.28 | -9.58 | | PBDT | 56.16 | 58.41 | -3.85 | 185.45 | 164.46 | 12.76 | 224.71 | 167.62 | 34.06 | | Depreciation | 21.3 | 21.41 | -0.51 | 63.11 | 63.51 | -0.63 | 83.67 | 87.06 | -3.89 | | PBT | 34.86 | 37.00 | -5.78 | 122.34 | 100.95 | 21.19 | 141.04 | 80.56 | 75.07 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 34.86 | 37 | -5.78 | 122.34 | 100.95 | 21.19 | 141.04 | 80.56 | 75.07 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 34.86 | 37 | -5.78 | 122.34 | 100.95 | 21.19 | 141.04 | 80.56 | 75.07 | | Taxation | 9.23 | 11.14 | -17.15 | 32.14 | 27.78 | 15.69 | 33.66 | 21.74 | 54.83 | | PAT | 25.63 | 25.86 | -0.89 | 90.2 | 73.17 | 23.27 | 107.38 | 58.82 | 82.56 | | Minority Interest (MI) | 1.15 | 1.37 | -16.06 | 3.65 | 3.98 | -8.29 | 6.51 | 4.78 | 36.19 | | Net profit | 24.48 | 24.49 | -0.04 | 86.55 | 69.19 | 25.09 | 100.87 | 54.04 | 86.66 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 24.48 | 24.49 | -0.04 | 86.55 | 69.19 | 25.09 | 100.87 | 54.04 | 86.66 | | EPS (Rs)* | 4.40 | 4.40 | -0.04 | 15.56 | 12.44 | 25.09 | 18.13 | 9.71 | 86.66 | | | * EPS is on current equity of Rs 55.63 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 |
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