Capitaline

Results 18-Nov-21

Analysis

Rajoo Engineers

Sales up 26%, PAT up 42%

Standalone net sales (including other operating income) of Rajoo Engineers for the quarter ended Sep 2021 has increased 26.23% to Rs 37.01 crore. Operating profit margin has declined from 14.15% to 14.08%, leading to 25.54% rise in operating profit to Rs 5.21 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 59.15% to 62.16%. Employee cost decreased from 9.44% to 8.55%. Other expenses fell from 19.11% to 16.28%. Other income up 156.25% to Rs 0.41 crore. PBIDT rose 30.39% to Rs 5.62 crore. Provision for interest fell 63.33% to Rs 0.11 crore. PBDT rose 37.41% to Rs 5.51 crore. Fixed assets declined from Rs 41.94 crore as of 30 September 2020 to Rs 40.54 crore as of 30 September 2021. Intangible assets declined from Rs 1.69 crore to Rs 1.40 crore. Profit before tax grew 47.77% to Rs 4.64 crore. Provision for tax was expense of Rs 1.29 crore, compared to Rs 0.78 crore. Effective tax rate was 27.80% compared to 24.84%. Profit after tax rose 41.95% to Rs 3.35 crore.

Half yearly performance

Net sales (including other operating income) of Rajoo Engineers has increased 30.07% to Rs 69.94 crore. Operating profit margin has declined from 13.19% to 10.31%, leading to 1.69% rise in operating profit to Rs 7.21 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 58.38% to 62.54%. Employee cost increased from 9.86% to 10.03%. Other expenses fell from 18.51% to 16.74%. Other income up 193.33% to Rs 0.88 crore. PBIDT rose 9.47% to Rs 8.09 crore. Provision for interest fell 64.41% to Rs 0.21 crore. PBDT rose 15.88% to Rs 7.88 crore. Provision for depreciation down 1.71% to Rs 1.72 crore. Profit before tax grew 21.98% to Rs 6.16 crore. Provision for tax was expense of Rs 1.75 crore, compared to Rs 1.3 crore. Effective tax rate was 28.41% compared to 25.74%. Profit after tax rose 17.60% to Rs 4.41 crore.

Other developments

Equity capital stood at Rs 6.15 crore as of 30 September 2021 to Rs 6.15 crore as of 30 September 2020. Per share face Value remained same at Rs 1.00.

Promoters’ stake was 65.84% as of 30 September 2021 ,compared to 65.80% as of 30 September 2020 .

Loan funds remained nil. Inventories declined from Rs 59.94 crore as of 30 September 2020 to Rs 59.53 crore as of 30 September 2021. Sundry debtors were lower at Rs 4.12 crore as of 30 September 2021 compared to Rs 12.18 crore as of 30 September 2020. Cash and bank balance rose to Rs 21.78 crore as of 30 September 2021 from Rs 11.49 crore as of 30 September 2020. Investments rose to Rs 10.80 crore as of 30 September 2021 from Rs 1.97 crore as of 30 September 2020 .

Fixed assets declined from Rs 41.94 crore as of 30 September 2020 to Rs 40.54 crore as of 30 September 2021. Intangible assets declined from Rs 1.69 crore to Rs 1.40 crore.

Rajoo Engineers: Standalone Results
	2109 (3)	2009 (3)	Var. (%)	2109 (6)	2009 (6)	Var. (%)	2103 (12)	2003 (12)	Var. (%)
Sales	37.01	29.32	26	69.94	53.77	30	152.25	93.55	63
OPM (%)	14.1	14.2		10.3	13.2		12.3	7.8
OP	5.20	4.16	25	7.21	7.09	2	18.74	7.32	156
Other inc.	0.41	0.16	167	0.88	0.30	193	0.58	0.14	302
PBIDT	5.62	4.31	30	8.09	7.39	9	19.32	7.46	159
Interest	0.11	0.30	-64	0.21	0.59	-65	0.99	2.09	-53
PBDT	5.51	4.02	37	7.88	6.80	16	18.33	5.38	241
Dep.	0.87	0.87	0	1.72	1.75	-1	3.45	3.78	-9
PBT	4.64	3.15	47	6.16	5.05	22	14.88	1.60	831
EO	0.00	0.00		0.00	0.00		0.00	0.00
PBT after EO	4.64	3.15	47	6.16	5.05	22	14.88	1.60	831
Taxation	1.29	0.78	65	1.75	1.30	34	4.48	0.13	###
PAT	3.35	2.36	42	4.41	3.75	18	10.41	1.47	609
EPS (Rs)*	#	#		#	#		1.7	0.2
* EPS is on current equity of Rs 6.1531 crore, Face value of Rs 1
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Rajoo Engineers commences expansion project at Rajkot unit
( Corporate News - 29-Nov-23 11:22 )

Rajoo Engineers standalone net profit declines 23.74% in the June 2021 quarter
( Results - Announcements 07-Aug-21 17:11 )

Rajoo Engineers to convene EGM
( Corporate News - 23-Feb-22 12:53 )

Rajoo Engineers to declare Quarterly Result
( Corporate News - 28-Aug-20 11:52 )

Rajoo Engineers standalone net profit rises 10.00% in the June 2016 quarter
( Results - Announcements 05-Aug-16 17:56 )

Rajoo Engineers standalone net profit declines 34.65% in the March 2023 quarter
( Results - Announcements 15-May-23 18:49 )

Rajoo Engineers to hold board meeting
( Corporate News - 12-Feb-22 11:55 )

Board of Rajoo Engineers approves allotment of convertible warrants
( Corporate News - 20-Jun-17 19:23 )

Rajoo Engineers standalone net profit declines 32.98% in the June 2017 quarter
( Results - Announcements 12-Aug-17 17:16 )

Board of Rajoo Engineers recommends final dividend
( Corporate News - 30-May-18 10:49 )

Rajoo Engineers net profit rises 44.44% in the September 2010 quarter
( Results - Announcements 12-Nov-10 21:44 )