For the
quarter ending Dec 2021, standalone net sales (including other operating income) of Kalyani Forge has increased 9.02% to Rs 61.15 crore compared to quarter ended Dec 2020.
Operating profit margin has declined from 9.63% to 7.67%, leading to 13.15% decline in operating profit to Rs 4.69 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 51.01% to 56.34%. Employee cost increased from 13.73% to 14.05%. Other expenses fell from 26.13% to 22.03%. Other direct service cost fell from 21.98% to 19.32%. Other income fell 77.94% to Rs 0.15 crore. PBIDT fell 20.39% to Rs 4.84 crore. Provision for interest fell 31.62% to Rs 0.8 crore. PBDT fell 17.72% to Rs 4.04 crore. Provision for depreciation down 2.84% to Rs 3.08 crore. Profit before tax down 44.83% to Rs 0.96 crore. Provision for tax was debit of Rs 0.48 crore, compared to credit of Rs 0.83 crore. Effective tax rate was 50.00% compared to negative 47.70%. Profit after tax fell 81.32% to Rs 0.48 crore. Promoters’ stake was 58.61% as of 31 December 2021 ,compared to 58.61% as of 31 December 2020 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Kalyani Forge has increased 58.12% to Rs 180.10 crore. Operating profit margin has jumped from 6.52% to 8.16%, leading to 97.85% rise in operating profit to Rs 14.70 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 50.96% to 54.01%. Employee cost decreased from 14.83% to 14.59%. Other expenses fell from 27.73% to 23.24%. Other direct service cost fell from 22.94% to 19.52%. Other income fell 63.50% to Rs 0.5 crore. PBIDT rose 72.73% to Rs 15.2 crore. Provision for interest up 12.72% to Rs 2.57 crore. PBDT rose 93.71% to Rs 12.63 crore. Provision for depreciation down 3.93% to Rs 9.3 crore. Profit before tax reported profit of Rs 3.33 crore compared to loss of Rs 3.16 crore. Provision for tax was debit of Rs 0.96 crore, compared to credit of Rs 1.76 crore. Effective tax rate was 28.83% compared to 55.70%.Profit after tax reported profit of Rs 2.37 crore compared to loss of Rs 1.40 crore. Promoters’ stake was 58.61% as of 31 December 2021 ,compared to 58.61% as of 31 December 2020 .
Full year results analysis
Net sales (including other operating income) of Kalyani Forge has declined 10.04% to Rs 180.78 crore. Operating profit margin has jumped from 4.18% to 6.68%, leading to 43.86% rise in operating profit to Rs 12.07 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 51.01% to 51.12%. Employee cost decreased from 15.48% to 14.61%. Other expenses fell from 29.29% to 27.59%. Other direct service cost fell from 23.64% to 22.19%. Other income fell 45.99% to Rs 1.48 crore. PBIDT rose 21.74% to Rs 13.55 crore. Provision for interest fell 47.86% to Rs 2.8 crore. Loan funds rose to Rs 26.10 crore as of 31 March 2021 from Rs 25.22 crore as of 31 March 2020. Inventories rose to Rs 44.88 crore as of 31 March 2021 from Rs 40.19 crore as of 31 March 2020. Sundry debtors were higher at Rs 67.02 crore as of 31 March 2021 compared to Rs 56.56 crore as of 31 March 2020. Cash and bank balance declined from Rs 5.65 crore as of 31 March 2020 to Rs 2.72 crore as of 31 March 2021. Investments stood at Rs 0.01 crore as of 31 March 2021 to Rs 0.01 crore as of 31 March 2020. PBDT rose 86.63% to Rs 10.75 crore. Provision for depreciation down 7.70% to Rs 12.82 crore. Fixed assets declined from Rs 66.17 crore as of 31 March 2020 to Rs 54.13 crore as of 31 March 2021. Intangible assets declined from Rs 0.08 crore to Rs 0.03 crore. Loss before tax has fallen 74.54% to Rs -2.07 crore. Provision for tax was credit of Rs 0.31 crore, compared to credit of Rs 1.2 crore. Effective tax rate was 14.98% compared to 14.76%. Loss after tax fell 74.60% to Rs -1.76 crore. Promoters’ stake was 58.61% as of 31 March 2021 ,compared to 58.61% as of 31 March 2020 . Cash flow from operating activities decreased to Rs 7.42 crore for year ended March 2021 from Rs 24.07 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 1.42 crore, compared to Rs 1.19 crore during the year ended March 2020.
| Kalyani Forge : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
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| Net Sales (including other operating income) | 61.15 | 56.09 | 9.02 | 180.10 | 113.90 | 58.12 | 180.78 | 200.95 | -10.04 | | OPM (%) | 7.67 | 9.63 | -196 bps | 8.16 | 6.52 | 164 bps | 6.68 | 4.18 | 250 bps | | OP | 4.69 | 5.40 | -13.15 | 14.70 | 7.43 | 97.85 | 12.07 | 8.39 | 43.86 | | Other Inc. | 0.15 | 0.68 | -77.94 | 0.50 | 1.37 | -63.50 | 1.48 | 2.74 | -45.99 | | PBIDT | 4.84 | 6.08 | -20.39 | 15.20 | 8.80 | 72.73 | 13.55 | 11.13 | 21.74 | | Interest | 0.8 | 1.17 | -31.62 | 2.57 | 2.28 | 12.72 | 2.8 | 5.37 | -47.86 | | PBDT | 4.04 | 4.91 | -17.72 | 12.63 | 6.52 | 93.71 | 10.75 | 5.76 | 86.63 | | Depreciation | 3.08 | 3.17 | -2.84 | 9.3 | 9.68 | -3.93 | 12.82 | 13.89 | -7.70 | | PBT | 0.96 | 1.74 | -44.83 | 3.33 | -3.16 | LP | -2.07 | -8.13 | 74.54 | | PBT before EO | 0.96 | 1.74 | -44.83 | 3.33 | -3.16 | LP | -2.07 | -8.13 | 74.54 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 0.96 | 1.74 | -44.83 | 3.33 | -3.16 | LP | -2.07 | -8.13 | 74.54 | | Taxation | 0.48 | -0.83 | PL | 0.96 | -1.76 | PL | -0.31 | -1.2 | 74.17 | | PAT | 0.48 | 2.57 | -81.32 | 2.37 | -1.4 | LP | -1.76 | -6.93 | 74.60 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 0.48 | 2.57 | -81.32 | 2.37 | -1.4 | LP | -1.76 | -6.93 | 74.60 | | EPS (Rs)* | 1.32 | 7.06 | -81.32 | 6.51 | -3.85 | LP | -4.84 | -19.04 | 74.60 | | | * EPS is on current equity of Rs 3.64 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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