On consolidated basis
Quarter ended December 2021 compared with Quarter ended December 2020.
Net sales (including other operating
income) of Nuvoco Vistas Corporation has declined 2.93% to Rs 2165.24
crore. Sales of Cement segment has gone up 843.31% to Rs 19,944.90
crore (accounting for 99.09% of total sales). Sales of Ready mix
conrete segment has gone up 41.33% to Rs 182.87 crore (accounting for 0.91% of
total sales). Inter-segment sales came down from Rs 13.07 crore to
Rs 12.53 crore.
PBIT
of Cement segment fell 99.09% to Rs 2.10 crore (accounting for -50.00% of total
PBIT). PBIT of Ready mix conrete segment rose 29.37% to Rs -6.30
crore (accounting for 150.00% of total PBIT).
PBIT
margin of Cement segment fell from 10.93% to 0.01%. PBIT margin of
Ready mix conrete segment rose from negative 6.89% to negative
3.45%. Overall PBIT margin fell from 9.90% to -0.02%.
Operating profit margin has declined
from 20.26% to 10.48%, leading to 49.78% decline in operating profit to Rs
226.94 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.66% to 16.60%. Purchase of finished
goods cost rose from 0.33% to 0.42%. Employee cost increased from
5.61% to 6.56%. Other expenses rose from 59.22% to 66.56%.
Power and Oil fuel cost rose from 19.17% to 28.12%.
Freight charges fell from 27.65% to 26.38%.
Other
income rose 157.47% to Rs 14.47 crore. PBIDT fell 47.23% to Rs
241.41 crore. Provision for interest fell 23.12% to Rs 141.48
crore.
PBDT
fell 63.46% to Rs 99.93 crore. Provision for depreciation rose 0.60%
to Rs 231.14 crore.
Profit
before tax reported loss of Rs 131.21 crore compared to profit of Rs 43.72
crore. Share of profit/loss were nil in both the
periods. Provision for tax was credit of Rs 45.67 crore, compared to
credit of Rs 0.69 crore. Effective tax rate was 34.81% compared to
negative 1.58%.
Minority interest was nil in both
the periods.
Promoters’
stake was 71.03% as of 31 December 2021
Consolidated year-to-date (YTD)
results analysis
Net sales (including other operating
income) of Nuvoco Vistas Corporation has increased 31.51% to Rs 6387.85
crore. Sales of Cement segment has gone up 26.81% to Rs 5,922.49
crore (accounting for 92.27% of total sales). Sales of Ready mix
conrete segment has gone up 141.99% to Rs 496.41 crore (accounting for 7.73% of
total sales). Inter-segment sales rose Rs 18.42 crore to Rs 31.05
crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 9.47% to Rs 398.22
crore. PBIT of Cement segment fell 1.23% to Rs 420.32 crore
(accounting for 105.55% of total PBIT). PBIT of Ready mix conrete
segment rose 64.24% to Rs -22.10 crore (accounting for -5.55% of total
PBIT).
PBIT margin of Cement segment fell
from 9.11% to 7.10%. PBIT margin of Ready mix conrete segment rose
from negative 30.13% to negative 4.45%. Overall PBIT margin fell
from 7.46% to 6.20%.
Operating profit margin has declined
from 19.28% to 16.78%, leading to 14.45% rise in operating profit to Rs
1,071.77 crore. Raw material cost as a % of total sales (net of
stock adjustments) increased from 13.47% to 15.71%. Purchase of
finished goods cost rose from 0.33% to 0.38%. Employee cost
decreased from 7.28% to 6.59%. Other expenses rose from 59.44% to
61.28%. Power and Oil fuel cost rose from 19.04% to 22.40%. Freight
charges fell from 27.26% to 25.89%.
Other income rose 22.20% to Rs 27.14
crore. PBIDT rose 14.63% to Rs 1098.91 crore. Provision
for interest fell 12.39% to Rs 438.45 crore.
PBDT rose 44.14% to Rs 660.46
crore. Provision for depreciation rose 17.61% to Rs 673.55
crore.
Loss before tax has fallen 88.57% to
Rs -13.09 crore. Share of profit/loss were nil in both the
periods. Provision for tax was credit of Rs 16.06 crore, compared to
credit of Rs 51.03 crore. Effective tax rate was 122.69% compared to
44.58%.
Minority interest was nil in both
the periods.
Promoters’ stake was 71.03% as of 31
December 2021
Full year results analysis.
Net sales (including other operating income) of Nuvoco Vistas Corporation has
increased 10.24% to Rs 7488.84 crore.
Operating profit margin has jumped
from 19.09% to 19.50%, leading to 12.59% rise in operating profit to Rs
1,460.50 crore. Raw material cost as a % of total sales (net of
stock adjustments) decreased from 18.58% to 14.02%. Purchase of
finished goods cost rose from 0.26% to 0.65%. Employee cost
increased from 5.90% to 6.55%. Other expenses rose from 56.33% to
58.95%. Power and Oil fuel cost rose from 17.88% to 18.42%.
Freight charges rose from 25.91% to 27.57%.
Other income fell 7.82% to Rs 33.84
crore. PBIDT rose 12.03% to Rs 1494.34 crore. Provision
for interest rose 58.40% to Rs 664.04 crore. Loan funds remained
nil.
PBDT fell 9.22% to Rs 830.3
crore. Provision for depreciation rose 50.37% to Rs 793.79
crore.
Profit before tax down 90.56% to Rs
36.51 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 62.46 crore, compared
to Rs 137.5 crore. Effective tax rate was 171.08% compared to
35.55%.
Minority interest was nil in both
the periods.
Cash flow from operating activities
increased to Rs 1,717.36 crore for year ended March 2021 from Rs 1,024.77 crore
for year ended March 2020. Cash flow used in acquiring fixed assets
during the year ended March 2021 stood at Rs 551.66 crore, compared to Rs
569.48 crore during the year ended March 2020.
Management Commentary
Commenting
on the financial results, Mr Jayakumar Krishnaswamy, Managing Director, Nuvoco
Vistas Corp said, " The quarter has been extremely difficult for the
entire industry. Eastern parts of India were furthermore impacted by the number
of unprecedented factors like prolonged monsoon and sand unavailability. In
addition to weak demand, the inflated fuel cost severely impacted the earnings
of the Company. In these challenging times, our continued focus on internal
levers targeting towards price acceleration and cost optimization helped us to
deliver a healthy incremental EBITDA during 9M FY22 on YoY basis."
He
also added, " Amidst these pressures, the company stayed committed to its
sustainability goals. We stayed focused on- composite cement, green concrete,
and usage of alternate fuel technologies. Our composite cement volumes rose
multifold during the quarter. While the Alternate Fuel Rate (AFR) for the company
increased by 200 bps, our Chittor cement plant was able to achieve an AFR of
20% during the quarter."
| Nuvoco Vistas Corporation : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,165.24 | 2,230.68 | -2.93 | 6,387.85 | 4,857.22 | 31.51 | 7,488.84 | 6,793.24 | 10.24 | | OPM (%) | 10.48 | 20.26 | -978 bps | 16.78 | 19.28 | -250 bps | 19.50 | 19.09 | 41 bps | | OP | 226.94 | 451.89 | -49.78 | 1,071.77 | 936.44 | 14.45 | 1,460.50 | 1,297.15 | 12.59 | | Other Inc. | 14.47 | 5.62 | 157.47 | 27.14 | 22.21 | 22.20 | 33.84 | 36.71 | -7.82 | | PBIDT | 241.41 | 457.51 | -47.23 | 1,098.91 | 958.65 | 14.63 | 1,494.34 | 1,333.86 | 12.03 | | Interest | 141.48 | 184.03 | -23.12 | 438.45 | 500.45 | -12.39 | 664.04 | 419.22 | 58.40 | | PBDT | 99.93 | 273.48 | -63.46 | 660.46 | 458.20 | 44.14 | 830.30 | 914.64 | -9.22 | | Depreciation | 231.14 | 229.76 | 0.60 | 673.55 | 572.68 | 17.61 | 793.79 | 527.88 | 50.37 | | PBT | -131.21 | 43.72 | PL | -13.09 | -114.48 | 88.57 | 36.51 | 386.76 | -90.56 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | -131.21 | 43.72 | PL | -13.09 | -114.48 | 88.57 | 36.51 | 386.76 | -90.56 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | -131.21 | 43.72 | PL | -13.09 | -114.48 | 88.57 | 36.51 | 386.76 | -90.56 | | Taxation | -45.67 | -0.69 | -6,518.84 | -16.06 | -51.03 | 68.53 | 62.46 | 137.5 | -54.57 | | PAT | -85.54 | 44.41 | PL | 2.97 | -63.45 | LP | -25.95 | 249.26 | PL | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | -85.54 | 44.41 | PL | 2.97 | -63.45 | LP | -25.95 | 249.26 | PL | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -85.54 | 44.41 | PL | 2.97 | -63.45 | LP | -25.95 | 249.26 | PL | | EPS (Rs)* | -2.40 | 1.24 | PL | 0.08 | -1.78 | LP | -0.73 | 6.98 | PL | | | * EPS is on current equity of Rs 357.16 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 |
|
| Nuvoco Vistas Corporation : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
|---|
| Sales | | Cement | 99.09 | 19,944.90 | 2,114.36 | 843.31 | 92.27 | 5,922.49 | 4,670.50 | 26.81 | 94.94 | 7,132.56 | 5,789.01 | 23.21 | | Ready mix conrete | 0.91 | 182.87 | 129.39 | 41.33 | 7.73 | 496.41 | 205.14 | 141.99 | 5.06 | 380.45 | 1,105.11 | -65.57 | | Total Reported Sales | 100.00 | 20,127.77 | 2,243.75 | 797.06 | 100.00 | 6,418.90 | 4,875.64 | 31.65 | 100.00 | 7,513.01 | 6,897.62 | 8.92 | | Less: Inter segment revenues | | 12.53 | 13.07 | -4.13 | | 31.05 | 18.42 | 68.57 | | 24.18 | 0.00 | - | | Net Sales | 100.00 | 20,115.24 | 2,230.68 | 801.75 | 100.00 | 6,387.85 | 4,857.22 | 31.51 | 100.00 | 7,488.83 | 6,897.62 | 8.57 | | PBIT | | Cement | -50.00 | 2.10 | 231.05 | -99.09 | 105.55 | 420.32 | 425.56 | -1.23 | 110.89 | 739.30 | 792.87 | -6.76 | | Ready mix conrete | 150.00 | -6.30 | -8.92 | 29.37 | -5.55 | -22.10 | -61.80 | 64.24 | -10.89 | -72.60 | -16.81 | -331.83 | | Total PBIT | 100.00 | -4.20 | 222.13 | PL | 100.00 | 398.22 | 363.76 | 9.47 | 100.00 | 666.70 | 769.27 | -13.33 | | Less : Interest | | 141.48 | 184.03 | -23.12 | | 438.45 | 500.45 | -12.39 | | 664.04 | 419.22 | 58.40 | | Add: Other un-allcoable | | 14.47 | 5.62 | 157.47 | | 27.14 | 22.21 | 22.20 | | 33.84 | 36.71 | -7.81 | | PBIT Margin(%) | | Cement | | 0.01 | 10.93 | -1,091.71 | | 7.10 | 9.11 | -201.46 | | 10.37 | 13.70 | -333.09 | | Ready mix conrete | | -3.45 | -6.89 | 344.88 | | -4.45 | -30.13 | 2,567.38 | | -19.08 | -1.52 | -1,756.14 | | | 0.00 | -193.91 | 19,391.43 | | PBT | 100.00 | -131.21 | 43.72 | PL | 100.00 | -13.09 | -114.48 | 88.57 | 100.00 | 36.50 | 386.75 | -90.56 |
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