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Results
11-Aug-16
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Analysis
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Honeywell Automation India
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Lower margins due to onetime expenditure
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Honeywell Automation India reported a 10% increase in net sales to Rs 564.28 crore for June'16 quarter. OPM was lower by 330 bps to 8.6%, thus resulting OP of Rs 48.7 crore for June'16 quarter, down by 16%. There was a onetime expenditure of around Rs 10 crore in other expenditure of June'16 quarter which affected the margins and overall OP of the June'16 quarter. Other income was higher by 126% to Rs 13.66 crore. PBIDT thus was lower by 2% to Rs 62.39 crore. Interest costs stood at Rs 1 lakh. After providing depreciation of Rs 3.91 crore up by 4% YoY, PBT stood at Rs 58.47 crore, down by 3%. Thus PBT stood at Rs 58.47 crore, lower by 3% YoY. After providing total tax of Rs 20.28 crore, lower by 10% on YoY basis, PAT for the June'16 quarter stood at Rs 38.19 crore, up by 2% YoY.
Performance for 12 months ended Mar'16
FY 15 financials are for 15 months and hence not comparable on YoY basis with the financials of FY'16 which are for 12 months period. Honeywell Automation India reported net sales of Rs 2187.62 crore for the year ended Mar'16. OPM stood at 9.8%, thus resulting OP of Rs 214.09 crore for 12 months ended Mar'16. Other income stood at Rs 23.33 crore. PBIDT thus stood at Rs 237.42 crore. Interest costs stood at Rs 38 lakh. After providing depreciation of Rs 15.40 crore, PBT stood at Rs 221.64 crore. After providing total tax of Rs 83.13 crore, PAT for the 12 months ended Mar'16 stood at Rs 138.51 crore.
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