Other income up 55.81% to Rs 41.6 crore.  PBIDT rose 27.79% to Rs 211.5 crore.  Provision for interest up 40% to Rs 0.7 crore.  PBDT rose 27.76% to Rs 210.8 crore.  Depreciation was flat at Rs 13.5 crore. Profit before tax grew 30.23% to Rs 197.30 crore.  Provision for tax was expense of Rs 49.1 crore, compared to Rs 39.5 crore.  Effective tax rate was 24.89% compared to 26.07%. Profit after tax rose 32.32% to Rs 148.20 crore.  

 

Full year results analysis

Net sales (including other operating income) of Honeywell Automation India has increased 17.71% to Rs 4,058.20 crore.  Operating profit margin has declined from 15.05% to 14.52%, leading to 13.59% rise in operating profit to Rs 589.40 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 42.44% to 43.24%.   Purchase of finished goods cost rose from 10.96% to 13.69%.   Employee cost decreased from 18.07% to 16.27%.   Other expenses fell from 13.55% to 12.27%.   

Other income up 11.30% to Rs 142.8 crore.  PBIDT rose 13.13% to Rs 732.2 crore.  Provision for interest fell 10% to Rs 3.6 crore.   PBDT rose 13.28% to Rs 728.6 crore.  Provision for depreciation rose 3.47% to Rs 53.7 crore.   

Profit before tax grew 14.14% to Rs 674.90 crore.  Provision for tax was expense of Rs 173.5 crore, compared to Rs 153.3 crore.  Effective tax rate was 25.71% compared to 25.93%.

Profit after tax rose 14.47% to Rs 501.40 crore.  

Equity capital stood at Rs 8.80 crore as of 31 March 2024 to Rs 8.80 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

The Board of Directors have recommended dividend of ~ 100 per equity share for the financial year ended March 31 , 2024 (previous year ended March 31 , 2023: ~ 95 per equity share) for approval of shareholders. The face value of the equity share is ~ 10 each.

Promoters’ stake was 75.00% as of 31 March 2024 ,compared to 75.00% as of 31 March 2023 .  

Loan funds rose to Rs 59.60 crore as of 31 March 2024 from Rs 36.30 crore as of 31 March 2023.  Inventories declined from Rs 164.60 crore as of 31 March 2023 to Rs 159.10 crore as of 31 March 2024.  Sundry debtors were lower at Rs 926.10 crore as of 31 March 2024 compared to Rs 937.80 crore as of 31 March 2023.  Cash and bank balance rose to Rs 2,823.00 crore as of 31 March 2024 from Rs 2,379.50 crore as of 31 March 2023.  Fixed assets increased to Rs 171.70 crore as of 31 March 2024 from Rs 153.30 crore as of 31 March 2023.  

Cash flow from operating activities increased to Rs 438.70 crore for year ended March 2024 from Rs 409.90 crore for year ended March 2023.  Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 32.00 crore, compared to Rs 28.10 crore during the year ended March 2023.  

Honeywell Automation India : Standalone Results

Quarter ended Year ended Particulars 202403 202303 Var.(%) 202403 202303 Var.(%) Net Sales (including other operating income) 950.70 849.70 11.89 4,058.20 3,447.60 17.71 OPM (%) 17.87 16.34 154 bps 14.52 15.05 -53 bps OP 169.90 138.80 22.41 589.40 518.90 13.59 Other Inc. 41.60 26.70 55.81 142.80 128.30 11.30 PBIDT 211.50 165.50 27.79 732.20 647.20 13.13 Interest 0.7 0.5 40.00 3.6 4 -10.00 PBDT 210.80 165.00 27.76 728.60 643.20 13.28 Depreciation 13.5 13.5 0 53.7 51.9 3.47 PBT 197.30 151.50 30.23 674.9 591.3 14.14 PBT before EO 197.3 151.5 30.23 674.9 591.3 14.14 EO Income 0 0 - 0 0 - PBT after EO 197.3 151.5 30.23 674.9 591.3 14.14 Taxation 49.1 39.5 24.30 173.5 153.3 13.18 PAT 148.2 112 32.32 501.4 438 14.47 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 148.2 112 32.32 501.4 438 14.47 EPS (Rs)* 167.65 126.70 32.32 567.19 495.48 14.47 * EPS is on current equity of Rs 8.84 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