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RHI Magnesita India consolidated
net sales increased 24.45% to Rs 432.58 crore in Q2FY22 compared to
Q2FY21. Operating profit margin has
jumped from 14.21% to 15.16%, leading to 32.79% rise in operating profit to Rs
65.60 crore. Raw material cost as a % of
total sales (net of stock adjustments) decreased from 33.22% to 31.09%. Purchase of finished goods cost rose from
29.90% to 36.47%. Employee cost
decreased from 7.41% to 6.13%. Other
expenses fell from 14.65% to 13.02%.
Other income fell 71.88% to Rs 0.81
crore. PBIDT rose 27.03% to Rs 66.41
crore. PBDT rose 31.50% to Rs 67.34
crore. Profit before tax grew 34.20% to
Rs 59.09 crore. Provision for tax was
expense of Rs 15.99 crore, compared to Rs 11.48 crore. Effective tax rate was 27.06% compared to
26.07%.
Net profit attributable to owners
of the company increased 32.41% to Rs 43.10 crore.
Equity capital increased from Rs
12.01 crore as of 30 September 2020 to Rs 16.10 crore as of 30 September
2021. Per share face Value remained same
at Rs 1.00.
Promoters’ stake was 66.49% as of
30 September 2021 compared to 66.49% as of 30 September 2020 .
For year-to-date (YTD) results analysis
Net sales of RHI Magnesita India
have increased 48.81% to Rs 861.84 crore.
Operating profit margin has jumped from 13.42% to 16.22%, leading to
79.95% rise in operating profit to Rs 139.82 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 33.20% to 29.90%. Purchase of finished goods cost rose from
30.77% to 37.59%. Employee cost
decreased from 7.70% to 5.89%. Other
expenses fell from 15.12% to 12.47%.
Other income fell 19.68% to Rs 4.45
crore. PBIDT rose 73.32% to Rs 144.27
crore. Provision for interest rose 5.03%
to Rs 1.67 crore. PBDT rose 74.65% to Rs
142.6 crore. Provision for depreciation
rose 13.07% to Rs 16 crore.
Profit before tax grew 87.56% to Rs
126.60 crore. Share of profit/loss were
nil in both the periods. Provision for
tax was expense of Rs 33.52 crore, compared to Rs 17.37 crore. Effective tax rate was 26.48% compared to
25.73%.
Net profit attributable to owners
of the company increased 85.68% to Rs 93.08 crore.
Full year results analysis
Net sales (including other
operating income) of RHI Magnestia India has declined 1.24% to Rs 1370.38
crore. Operating profit margin has
slumped from 15.42% to 15.22%, leading to 2.52% decline in operating profit to
Rs 208.53 crore. Raw material cost as a
% of total sales (net of stock adjustments) increased from 33.80% to
34.53%. Purchase of finished goods cost
rose from 28.03% to 29.57%. Employee
cost increased from 6.74% to 7.36%.
Other expenses fell from 15.82% to 14.00%.
Other income rose 18.92% to Rs
12.32 crore. Provision for interest fell
47.32% to Rs 6.48 crore. Loan funds
declined from Rs 66.55 crore as of 31 March 2020 to Rs 62.14 crore as of 31
March 2021. Inventories rose to Rs
353.09 crore as of 31 March 2021 from Rs 277.84 crore as of 31 March 2020. Sundry debtors were lower at Rs 327.71 crore
as of 31 March 2021 compared to Rs 332.44 crore as of 31 March 2020. Cash and bank balance rose to Rs 160.24 crore
as of 31 March 2021 from Rs 126.97 crore as of 31 March 2020.
Provision for depreciation rose
13.79% to Rs 29.79 crore. Fixed assets
increased to Rs 285.74 crore as of 31 March 2021 from Rs 235.90 crore as of 31
March 2020. Intangible assets increased
from Rs 0.20 crore to Rs 3.66 crore.
Profit before tax shrink 0.66% to
Rs 184.58 crore. Provision for tax was
expense of Rs 47.96 crore, compared to Rs 49.92 crore. Effective tax rate was 25.98% compared to
26.87%.
Net profit attributable to owners
of the company increased 0.54% to Rs 136.62 crore.
Equity capital stood at Rs 12.01
crore as of 31 March 2021 to Rs 12.01 crore as of 31 March 2020. Per share face Value remained same at Rs
1.00.
Promoters’ stake was 66.49% as of
31 March 2021 compared to 66.49% as of 31 March 2020.
Cash flow from operating activities
decreased to Rs 165.41 crore for year ended March 2021 from Rs 173.18 crore for
year ended March 2020. Cash flow used in
acquiring fixed assets during the year ended March 2021 stood at Rs 85.80
crore, compared to Rs 83.57 crore during the year ended March 2020.
The
scrip trades at Rs 337
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RHI Magnestia: Consolidated Results
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|
Particulars
|
2109
(03)
|
2009
(03)
|
Var.(%)
|
2109
(06)
|
2009
(06)
|
Var.(%)
|
2103
(12)
|
2003
(12)
|
Var.(%)
|
|
Net Sales
|
432.58
|
347.58
|
24
|
861.84
|
579.15
|
49
|
1,370.38
|
1,387.59
|
-1
|
|
OPM (%)
|
15.2
|
14.2
|
|
16.2
|
13.4
|
|
15.2
|
15.4
|
|
|
OP
|
65.59
|
49.38
|
33
|
139.82
|
77.70
|
80
|
208.53
|
213.93
|
-3
|
|
Other Inc.
|
0.81
|
2.88
|
-72
|
4.45
|
5.54
|
-20
|
12.32
|
10.36
|
19
|
|
PBIDT
|
66.40
|
52.27
|
27
|
144.27
|
83.24
|
73
|
220.85
|
224.29
|
-2
|
|
Interest
|
-0.93
|
1.07
|
-187
|
1.67
|
1.59
|
5
|
6.48
|
12.3
|
-47
|
|
PBDT
|
67.33
|
51.20
|
32
|
142.60
|
81.65
|
75
|
214.37
|
211.99
|
1
|
|
Depreciation
|
8.25
|
7.18
|
15
|
16.00
|
14.15
|
13
|
29.79
|
26.18
|
14
|
|
PBT before EO
|
59.09
|
44.02
|
34
|
126.60
|
67.50
|
88
|
184.58
|
185.81
|
-1
|
|
EO Income
|
0.00
|
0.00
|
-
|
0.00
|
0.00
|
-
|
0
|
0
|
-
|
|
PBT after EO
|
59.09
|
44.02
|
34
|
126.60
|
67.50
|
88
|
184.58
|
185.81
|
-1
|
|
Taxation
|
15.99
|
11.48
|
39
|
33.52
|
17.37
|
93
|
47.96
|
49.92
|
-4
|
|
PAT
|
43.10
|
32.55
|
32
|
93.08
|
50.13
|
86
|
136.62
|
135.89
|
1
|
|
EPS (Rs)*
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#
|
#
|
|
#
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#
|
|
8.5
|
8.4
|
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|
Notes
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* EPS is on current equity of Rs
16.1 crore, Face value of Rs 1, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate
Database
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