For the
quarter ending Dec 2021, consolidated net sales (including other operating income) of Emami has increased 4.10% to Rs 971.85 crore compared to quarter ended Dec 2020. Operating profit margin has declined from 36.44% to 35.14%, leading to 0.40% rise in operating profit to Rs 341.54 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 23.55% to 25.73%. Purchase of finished goods cost fell from 5.50% to 5.07%. Employee cost decreased from 8.28% to 7.64%. Other expenses fell from 25.93% to 25.46%. Selling and administration expenses fell from 16.78% to 16.72%. Other income rose 81.15% to Rs 16.63 crore. PBIDT rose 2.52% to Rs 358.17 crore. Provision for interest rose 33.58% to Rs 1.83 crore.
PBDT rose 2.40% to Rs 356.34 crore. Provision for depreciation fell 10.52% to Rs 84.44 crore.
Profit before tax grew 7.20% to Rs 271.90 crore. Share of profit/loss was 269.66% lower at Rs -3.29 crore. Provision for tax was expense of Rs 49.09 crore, compared to Rs 43.78 crore. Effective tax rate was 18.28% compared to 17.32%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 5.27% to Rs 219.97 crore. Promoters’ stake was 53.86% as of 31 December 2021 ,compared to 53.86% as of 31 December 2020 . Promoters pledged stake was 29.13% as of 31 December 2021 ,compared to 38.94% as of 31 December 2020 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Emami has increased 12.65% to Rs 2421.64 crore. Operating profit margin has declined from 33.50% to 32.56%, leading to 9.46% rise in operating profit to Rs 788.43 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 24.04% to 27.82%. Purchase of finished goods cost fell from 6.71% to 4.90%. Employee cost decreased from 10.81% to 9.84%. Other expenses fell from 25.04% to 24.97%. Selling and administration expenses rose from 14.99% to 15.38%. Other income rose 173.29% to Rs 64.96 crore. PBIDT rose 14.70% to Rs 853.39 crore. Provision for interest fell 61.99% to Rs 3.25 crore.
PBDT rose 15.59% to Rs 850.14 crore. Provision for depreciation fell 11.50% to Rs 251.32 crore.
Profit before tax grew 32.63% to Rs 598.82 crore. Share of profit/loss was 204.58% lower at Rs -8.65 crore. Provision for tax was expense of Rs 107.61 crore, compared to Rs 81.66 crore. Effective tax rate was 18.23% compared to 18.20%.Net profit attributable to owners of the company increased 31.62% to Rs 483.03 crore.
Promoters’ stake was 53.86% as of 31 December 2021 ,compared to 53.86% as of 31 December 2020 . Promoters pledged stake was 29.13% as of 31 December 2021 ,compared to 38.94% as of 31 December 2020 .
Full year results analysis.
Net sales (including other operating income) of Emami has increased 8.50% to Rs 2880.53 crore. Operating profit margin has jumped from 26.01% to 30.66%, leading to 27.88% rise in operating profit to Rs 883.05 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 27.91% to 24.43%. Purchase of finished goods cost rose from 5.30% to 8.28%. Employee cost decreased from 11.25% to 10.66%. Other expenses fell from 29.61% to 26.18%. Selling and administration expenses fell from 17.69% to 15.80%. Other income rose 23.13% to Rs 70.27 crore. PBIDT rose 27.52% to Rs 953.32 crore. Provision for interest fell 36.84% to Rs 13.27 crore. Loan funds declined from Rs 210.23 crore as of 31 March 2020 to Rs 96.11 crore as of 31 March 2021. Inventories rose to Rs 300.45 crore as of 31 March 2021 from Rs 244.65 crore as of 31 March 2020. Sundry debtors were lower at Rs 231.75 crore as of 31 March 2021 compared to Rs 308.01 crore as of 31 March 2020. Cash and bank balance rose to Rs 360.37 crore as of 31 March 2021 from Rs 119.06 crore as of 31 March 2020. Investments rose to Rs 255.33 crore as of 31 March 2021 from Rs 156.42 crore as of 31 March 2020 .
PBDT rose 29.38% to Rs 940.05 crore. Provision for depreciation rose 9.10% to Rs 366.95 crore. Fixed assets declined from Rs 846.95 crore as of 31 March 2020 to Rs 784.22 crore as of 31 March 2021. Intangible assets declined from Rs 620.27 crore to Rs 354.05 crore.
Profit before tax grew 46.85% to Rs 573.10 crore. Share of profit/loss was 30.56% higher at Rs -4.18 crore. Provision for tax was expense of Rs 114.21 crore, compared to Rs 71.27 crore. Effective tax rate was 20.07% compared to 19.08%.
Net profit attributable to owners of the company increased 50.11% to Rs 454.70 crore.
Equity capital decreased from Rs 45.32 crore as of 31 March 2020 to Rs 44.45 crore as of 31 March 2021 . Per share face Value remained same at Rs 1.00.
Promoters’ stake was 53.86% as of 31 March 2021 ,compared to 52.74% as of 31 March 2020 . Promoters pledged stake was 32.89% as of 31 March 2021 ,compared to 89.25% as of 31 March 2020 .
Cash flow from operating activities increased to Rs 921.53 crore for year ended March 2021 from Rs 530.73 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 33.68 crore, compared to Rs 159.08 crore during the year ended March 2020.
Other Highlights
Board of Directors declared
an Interim Dividend of Rs 4 per equity share (400% ) on face value of Rs 1 per
share. The company has fixed February 11, 2022, as the Record Date for the
purpose.Board of Directors approved
Buyback of the Holding Company’s fully paid-up equity shares of face value of
Rs 1 each from the eligible equity shareholders of the Company other than
promoters, promoter group and persons who are in control of the company, at a
price not exceeding Rs 550 per equity share (Maximum Buyback price), for an
aggregate amount not exceeding Rs 162 crore (Maximum Buyback size), payable in
cash from the open market route.In Q3 FY22, Domestic
Business grew by 3%, International Business grew by 7% and Institutional
Business grew by 16% on YoY basis.In 9M FY22, Domestic
Business grew by 14%, International Business grew by 4% and Institutional
Business grew by 24% on YoY basis.In Q3 FY22, domestic sales
contributed 82% of total sales, International Business 15% and Institutional
Business 3%.For 9M FY22, SAARC (South
Asian Association for Regional Cooperation) contributed 43% of total
international sales, MENA (Middle East & North Africa) 35%, CIS (Commonwealth
of Independent States) 10% and others 12%.