Standalone net sales (including other operating income) of Voltamp Transformers for the quarter ended Mar 2024 has increased 14.62% to Rs 504.16 crore driven by 12% increase in volume to 4105 MVA. Operating profit margin has declined from 21.10% to 19.98%, leading to 8.53% rise in operating profit to Rs 100.74 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 68.56% to 69.46%. Employee cost increased from 2.28% to 3.38%. Other expenses rose from 5.99% to 6.78%. Other income up 114.59% to Rs 23.24 crore. PBIDT rose 19.61% to Rs 123.98 crore. Provision for interest up 443.48% to Rs 1.25 crore. PBDT rose 18.67% to Rs 122.73 crore. Provision for depreciation rose 30.35% to Rs 3.35 crore.
Profit before tax grew 18.37% to Rs 119.38 crore. Provision for tax was expense of Rs 25.85 crore, compared to Rs 24.28 crore. Effective tax rate was 21.65% compared to 24.08%. Profit after tax rose 22.15% to Rs 93.53 crore. Full year results analysis
Net sales (including other operating income) of Voltamp Transformers has increased 16.69% to Rs 1,616.22 crore. Operating profit margin has jumped from 16.67% to 19.94%, leading to 39.62% rise in operating profit to Rs 322.35 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 74.49% to 71.04%. Employee cost increased from 2.90% to 3.21%. Other expenses rose from 5.89% to 6.54%. Other income up 122.01% to Rs 88.98 crore. PBIDT rose 51.81% to Rs 411.33 crore. Provision for interest up 133.71% to Rs 2.08 crore. PBDT rose 51.54% to Rs 409.25 crore. Provision for depreciation rose 17.34% to Rs 11.37 crore. Profit before tax grew 52.81% to Rs 397.88 crore. Provision for tax was expense of Rs 90.52 crore, compared to Rs 60.43 crore. Effective tax rate was 22.75% compared to 23.21%. Profit after tax rose 53.73% to Rs 307.36 crore. Capex plans The company has identified suitable land parcel to put up new power transformer factory near jaord village on Vadodara-Halol Road in Gujarat. Requisitie permission/ approval will be in place by end of June 2024. The new capex will be funded from internal accruals. Order book & outlook Order book at the start of Apr 1, 2024 was Rs 840.66 crore (up 39%YoY). Order booking in Rs 1859 crore, up 37%YoY. The company is aiming for full utilisation of manufacturing capacity ensuring healthy growth of sales & services revenue in value and volume terms. The company will continue pursuing only profitable growth opportunities ensuring balance sheet health.
Equity capital stood at Rs 10.12 crore as of 31 March 2024 to Rs 10.12 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 38.00% as of 31 March 2024 ,compared to 50.00% as of 31 March 2023 . Loan funds remained nil. Inventories stood at Rs 174.77 crore as of 31 March 2024 to Rs 174.77 crore as of 31 March 2023. Sundry debtors stood at Rs 226.42 crore as of 31 March 2024 to Rs 226.42 crore as of 31 March 2023 Cash and bank balance stood at Rs 17.91 crore as of 31 March 2024 to Rs 17.91 crore as of 31 March 2023. Investments declined from Rs 717.61 crore as of 31 March 2023 to Rs 67.23 crore as of 31 March 2024. Fixed assets increased to Rs 717.57 crore as of 31 March 2024 from Rs 67.20 crore as of 31 March 2023. Intangible assets stood at Rs 0.36 crore. Cash flow from operating activities increased to Rs 216.28 crore for year ended March 2024 from Rs 167.95 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 19.34 crore, compared to Rs 8.16 crore during the year ended March 2023.
| Voltamp Transformers : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 504.16 | 439.86 | 14.62 | 1,616.22 | 1,385.10 | 16.69 | | OPM (%) | 19.98 | 21.10 | -112 bps | 19.94 | 16.67 | 328 bps | | OP | 100.74 | 92.82 | 8.53 | 322.35 | 230.87 | 39.62 | | Other Inc. | 23.24 | 10.83 | 114.59 | 88.98 | 40.08 | 122.01 | | PBIDT | 123.98 | 103.65 | 19.61 | 411.33 | 270.95 | 51.81 | | Interest | 1.25 | 0.23 | 443.48 | 2.08 | 0.89 | 133.71 | | PBDT | 122.73 | 103.42 | 18.67 | 409.25 | 270.06 | 51.54 | | Depreciation | 3.35 | 2.57 | 30.35 | 11.37 | 9.69 | 17.34 | | PBT | 119.38 | 100.85 | 18.37 | 397.88 | 260.37 | 52.81 | | PBT before EO | 119.38 | 100.85 | 18.37 | 397.88 | 260.37 | 52.81 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 119.38 | 100.85 | 18.37 | 397.88 | 260.37 | 52.81 | | Taxation | 25.85 | 24.28 | 6.47 | 90.52 | 60.43 | 49.79 | | PAT | 93.53 | 76.57 | 22.15 | 307.36 | 199.94 | 53.73 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 93.53 | 76.57 | 22.15 | 307.36 | 199.94 | 53.73 | | EPS (Rs)* | 92.45 | 75.68 | 22.15 | 303.80 | 197.63 | 53.73 | | | * EPS is on current equity of Rs 10.12 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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Peer Comparision (Standalone)
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Q-202403
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
02-May-2024
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Voltamp Transformers Ltd
|
504.16
|
14.62
|
100.74
|
8.53
|
93.53
|
22.15
|
10,965.40
|
263.95
|
303.80
|
36.09
|
|
Havells India Ltd
|
5,434.34
|
12.06
|
636.81
|
19.98
|
448.86
|
24.09
|
1,667.80
|
36.05
|
20.32
|
82.09
|
|
Quest Softech India Ltd
|
0.87
|
2800
|
-0.10
|
62.96
|
-0.18
|
35.71
|
46.84
|
29.25
|
-2.11
|
-
|
|
Shilchar Technologies Ltd
|
105.43
|
10.99
|
31.36
|
48.06
|
25.02
|
53.69
|
6,138.45
|
483.64
|
120.48
|
50.95
|
|
Surana Solar Ltd
|
3.93
|
-49.62
|
0.31
|
-38
|
-0.15
|
PL
|
41.61
|
116.49
|
-0.25
|
-
|
|
Transformers & Rectifiers India Ltd
|
500.28
|
17.58
|
62.67
|
125.03
|
35.65
|
304.2
|
657.10
|
875.79
|
2.88
|
227.87
|
|
Industry
|
6,549.01
|
12.57
|
831.79
|
23.62
|
602.73
|
30.08
|
1,13,530.53
|
44.34
|
|
112.63
|
|