Capitaline

Results 01-Feb-22

Analysis

Rajoo Engineers

Sales up 1%, net stayed flat

Standalone net sales (including other operating income) of Rajoo Engineers for the quarter ended Dec 2021 has increased 0.64% to Rs 42.43 crore. Operating profit margin has declined from 12.78% to 12.73%, leading to 0.19% rise in operating profit to Rs 5.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 52.65% to 61.36%. Employee cost decreased from 11.32% to 8.47%. Other expenses fell from 20.96% to 17.89%.

Other income up 3.03% to Rs 0.34 crore. PBIDT rose 0.35% to Rs 5.74 crore. Provision for interest fell 69.57% to Rs 0.07 crore.

PBDT rose 3.28% to Rs 5.67 crore. Provision for depreciation rose 1.16% to Rs 0.87 crore.

Profit before tax grew 3.67% to Rs 4.80 crore. Provision for tax was expense of Rs 1.51 crore, compared to Rs 1.33 crore. Effective tax rate was 31.46% compared to 28.73%.

Profit after tax fell 0.30% to Rs 3.29 crore.

Nine month performance

Net sales (including other operating income) of Rajoo Engineers has increased 17.14% to Rs 112.37 crore.

Operating profit margin has declined from 13% to 11.23%, leading to 1.20% rise in operating profit to Rs 12.62 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 56.09% to 62.10%. Employee cost decreased from 10.45% to 9.44%. Other expenses fell from 19.48% to 17.16%.

Other income up 92.06% to Rs 1.21 crore. PBIDT rose 5.57% to Rs 13.83 crore. Provision for interest fell 66.67% to Rs 0.27 crore.

PBDT rose 10.33% to Rs 13.56 crore. Provision for depreciation down 0.38% to Rs 2.6 crore. Profit before tax grew 13.22% to Rs 10.96 crore. Provision for tax was expense of Rs 3.27 crore, compared to Rs 2.63 crore. Effective tax rate was 29.84% compared to 27.17%.Profit after tax rose 9.08% to Rs 7.69 crore.

Others

Promoters’ stake was 65.84% as of 31 December 2021 ,compared to 65.80% as of 31 December 2020 .

Rajoo Engineers : Standalone Results

	Quarter ended			Year to Date			Year ended
Particulars	202112	202012	Var.(%)	202112	202012	Var.(%)	202103	202003	Var.(%)
Net Sales (including other operating income)	42.43	42.16	0.64	112.37	95.93	17.14	152.25	93.55	62.75
OPM (%)	12.73	12.78	-6 bps	11.23	13.00	-177 bps	12.32	7.84	448 bps
OP	5.40	5.39	0.19	12.62	12.47	1.20	18.75	7.33	155.80
Other Inc.	0.34	0.33	3.03	1.21	0.63	92.06	0.58	0.14	314.29
PBIDT	5.74	5.72	0.35	13.83	13.10	5.57	19.33	7.47	158.77
Interest	0.07	0.23	-69.57	0.27	0.81	-66.67	0.99	2.09	-52.63
PBDT	5.67	5.49	3.28	13.56	12.29	10.33	18.34	5.38	240.89
Depreciation	0.87	0.86	1.16	2.6	2.61	-0.38	3.45	3.78	-8.73
PBT	4.80	4.63	3.67	10.96	9.68	13.22	14.89	1.6	830.63
PBT before EO	4.8	4.63	3.67	10.96	9.68	13.22	14.89	1.6	830.63
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	4.8	4.63	3.67	10.96	9.68	13.22	14.89	1.6	830.63
Taxation	1.51	1.33	13.53	3.27	2.63	24.33	4.48	0.13	3,346.15
PAT	3.29	3.3	-0.30	7.69	7.05	9.08	10.41	1.47	608.16
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	3.29	3.3	-0.30	7.69	7.05	9.08	10.41	1.47	608.16
EPS (Rs)*	0.53	0.54	-0.30	1.25	1.15	9.08	1.69	0.24	608.16

* EPS is on current equity of Rs 6.15 crore, Face value of Rs 1, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Peer Comparision (Standalone)	Q-202112
Peer Comparision (Standalone)	Sales (Rs. Crs)	var.(%)	OP (Rs. Crs)	var.(%)	Net Profit (Rs. Crs)	var.(%)	Share Price(Rs) 31-Jan-2022	var.(%) over One year	TTM EPS	TTM PE
Rajoo Engineers Ltd	42.43	0.64	5.40	0.19	3.29	-0.3	36.65	79.66	1.80	20.41
Aaron Industries Ltd	9.16	39.85	1.32	13.79	1.02	72.88	130.25	174.50	3.03	43.03
DE Nora India Ltd	15.39	62	3.87	945.95	2.41	608.82	455.00	81.75	16.40	27.74
Eimco Elecon (India) Ltd	22.63	-29.39	3.10	-1.59	1.81	-42.72	354.80	12.07	8.61	41.19
Elecon Engineering Company Ltd	184.79	-18.97	33.63	-10.46	15.77	26.97	178.20	283.23	7.53	23.68
EMA India Ltd	0.00	-	-0.09	0	-0.11	-83.33	23.40	779.70	-4.75	-
G G Automotive Gears Ltd	13.15	152.4	1.25	LP	-0.12	94.69	28.55	0.00	-0.63	-
Hittco Tools Ltd	1.73	9.49	0.49	88.46	0.28	1300	23.00	687.67	0.65	35.43
International Combustion (India) Ltd	47.12	35.87	4.52	193.51	2.49	822.22	332.90	106.77	17.91	18.59
International Conveyors Ltd	61.92	41.73	7.24	-29.23	7.88	-4.83	72.60	152.52	2.43	29.86
Ion Exchange (India) Ltd	378.41	13.37	42.54	1.09	30.47	-0.65	1,903.70	61.72	102.84	18.51
Kabra Extrusion Technik Ltd	105.36	69.94	16.22	43.92	8.83	51.46	484.45	376.59	9.79	49.50
Om Infra Ltd	57.40	30.99	9.54	2.14	2.46	-63.06	45.75	94.27	0.81	56.63
Skipper Ltd	400.50	-12.91	47.52	7.73	8.45	-26.14	73.10	17.90	1.22	59.75
The Anup Engineering Ltd	47.21	60.14	11.02	63.26	6.28	-31.06	920.10	54.34	58.77	15.66
Industry	1,387.20	4.11	187.57	9.03	91.21	1.6	10,102.02	128.31		14.51

Previous News

Rajoo Engineers to hold AGM
( Corporate News - 06-Sep-16 17:47 )

Rajoo Engineers to hold board meeting
( Corporate News - 29-Jul-21 19:24 )

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

Rajoo Engineers standalone net profit rises 261.70% in the September 2014 quarter
( Results - Announcements 13-Nov-14 08:19 )

Rajoo Engineers standalone net profit declines 94.96% in the March 2020 quarter
( Results - Announcements 26-Jun-20 18:25 )

Rajoo Engineers standalone net profit declines 81.98% in the December 2019 quarter
( Results - Announcements 11-Feb-20 08:34 )

R&D unit of Rajoo Engineers gets registered with Dept. of Scientific & Industrial Research
( Corporate News - 23-Jan-18 17:44 )

Rajoo Engineers revises board meeting date
( Corporate News - 24-Jun-24 15:05 )

Rajoo Engineers to discuss results
( Corporate News - 08-May-23 09:32 )

Rajoo Engineers' JV launches India's first 500 MM PVC Pipe manufacturing machine
( Corporate News - 25-Feb-13 17:43 )

Rajoo Engineers standalone net profit declines 60.16% in the December 2016 quarter
( Results - Announcements 21-Jan-17 14:59 )