Sales of Machining solutions segment has gone up 17.95% to Rs 32.20 crore (accounting for 11.98% of total sales). Sales of Hard metal and hard metal products segment has gone up 3.59% to Rs 236.60 crore (accounting for 88.02% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 44.63% to Rs 44.40 crore. PBIT of Machining solutions segment rose 228.57% to Rs 2.30 crore (accounting for 5.18% of total PBIT). PBIT of Hard metal and hard metal products segment rose 40.33% to Rs 42.10 crore (accounting for 94.82% of total PBIT).
PBIT margin of Machining solutions segment rose from 2.56% to 7.14%. PBIT margin of Hard metal and hard metal products segment rose from 13.13% to 17.79%. Overall PBIT margin rose from 12.01% to 16.52%.
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Kennametal India for nine month ended Mar 2024 has declined 0.04% to Rs 797.50 crore. Operating profit margin has jumped from 14.41% to 15.37%, leading to 6.61% rise in operating profit to Rs 122.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 28.60% to 26.45%. Purchase of finished goods cost rose from 27.23% to 27.62%. Employee cost increased from 13.49% to 13.81%. Other expenses rose from 16.60% to 17.05%. Other income up 134.21% to Rs 8.9 crore. PBIDT rose 10.69% to Rs 131.5 crore. Provision for interest remained nil. PBDT rose 10.19% to Rs 130.9 crore. Provision for depreciation rose 14.95% to Rs 32.3 crore. Profit before tax grew 8.71% to Rs 98.60 crore. Provision for tax was expense of Rs 31 crore, compared to Rs 21.7 crore. Effective tax rate was 27.85% compared to 23.93%. Profit after tax rose 16.38% to Rs 80.30 crore.
Sales of Machine Tools(SPM) segment has gone down 11.57% to Rs 93.20 crore (accounting for 11.69% of total sales). Sales of Hard Metal & Hard Metal Products segment has gone up 1.72% to Rs 704.30 crore (accounting for 88.31% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 3.54% to Rs 119.80 crore. PBIT of Machine Tools(SPM) segment fell 10.17% to Rs 5.30 crore (accounting for 4.42% of total PBIT). PBIT of Hard Metal & Hard Metal Products segment rose 4.28% to Rs 114.50 crore (accounting for 95.58% of total PBIT).
PBIT margin of Machine Tools(SPM) segment rose from 5.60% to 5.69%. PBIT margin of Hard Metal & Hard Metal Products segment rose from 15.86% to 16.26%. Overall PBIT margin rose from 14.50% to 15.02%.
Declared an Interim Dividend of INR 30/- per equity share of INR 10/- each (300%) for the financial
year 2023-24 and fixed the Record Date for the purpose of ascertaining the eligibility of shareholders
for the payment of Interim Dividend as May 23, 2024.
Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .