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Results
04-Feb-21
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Analysis
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WPIL
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OP up 7% on strong standalone operating performance
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WPIL registered 28% jump in consolidated sales to Rs 257.16 crore for the quarter ended Dec 2020. But with operating profit margin contract by 180 bps to 9.6%, the growth at operating profit was restricted at 7% to Rs 24.56 crore. Other income was down by 31% to Rs 6.61 crore. Interest cost was down by 13% to Rs 4.85 crore and thus the PBDT was down by 2% to Rs 26.32 crore. The depreciation was down by 10% to Rs 10.64 crore. Thus the PBT was up by 4% to Rs 15.69 crore. The share of profit from associate was up by 67% to Rs 1.99 crore and thus the PBT before EO was up by 9% to Rs 17.68 crore. EO for the period was a gain of Rs 27.2 crore (against nil in corresponding previous period) towards profit on sales of assets of a step down foreign subsidiary amounting Rs 27.2 crore. Thus gained the PBT after EO jumped up by 176% to Rs 44.88 crore. With taxation up by 46% to Rs 11.16 crore, the PAT jumped up by 291% to Rs33.72 crore. The minority interest was a share of profit of Rs 4.96 crore as against a share of loss of Rs1.99 crore in the corresponding previous period. Thus the net profit after MI was up by 171% to Rs28.76 crore.
- Standalone sales of the company for the quarter was up by 27% to Rs103.07 crore. Higher sales together with 160 bps expansion in OPM to 17.5% has powered the operating profit up by 40% to Rs 18.07 crore. After accounting for lower OI, lower interest and lower depreciation, the PBT was up by 31% to Rs 25.32 crore. Eventually the PAT was up by 33% to Rs 19.02 crore with taxation stand higher by 26% to Rs 6.31 crore.
- On deducting standalone financials from consolidated financials, the sales of subsidiaries was up by 29% to Rs154.08 crore. But with OPM contract by sharp 410 bps to 4.2%, the operating profit was down by 35% to Rs 6.49 crore. The PBT was a loss of Rs 9.64 crore up from a loss of Rs 4.20 crore in the corresponding previous period.
Nine month performance
Consolidated sales was up by 3% to Rs641.61crore. But with OPM expand by 30 bps to 10.5%, theOP was up by 61% toRs67.49 crore. After accounting for higher OI, higher interest and lowerdepreciation, the PBT (before share of profit from associate & EO) was up by 13% to Rs36.48 crore. The PBT after share of profit from associate was up by 15% to Rs 38.93 crore with share of profit from associate stand higher by 50% to Rs2.45 crore. The EO income was Rs 27.20 crore (nil in 9mFY20) and thus the PBT after EO jumped up by 95% to Rs 66.13 crore. After higher taxation (up 79% to Rs 16.25 crore) the PAT more than doubled (up 101%) to Rs 49.88 crore. Eventually the net profit after MI was up by 49% to Rs 46.65 crore, with MI being share of profit of Rs 3.23 crore compared to a share of loss of Rs 6.50 crore in the corresponding previous period.
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