Other income rose 64.25% to Rs 3.17 crore.  PBIDT rose 61.23% to Rs 109.46 crore.  Provision for interest fell 26.92% to Rs 0.76 crore.  PBDT rose 62.60% to Rs 108.7 crore.  Provision for depreciation rose 9.59% to Rs 8.57 crore.  Profit before tax grew 69.63% to Rs 100.13 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 24.04 crore, compared to Rs 15.08 crore.  Effective tax rate was 24.01% compared to 25.55%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 73.13% to Rs 76.09 crore. 

Promoters’ stake was 70.19% as of 31 December 2021 compared to 66.49% as of 31 December 2020. 

For year-to-date (YTD) results analysis

Net sales of RHI Magnesita India have increased 45.91% to Rs 1405.18 crore.  Operating profit margin has jumped from 14.92% to 17.52%, leading to 71.33% rise in operating profit to Rs 246.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 33.40% to 33.93%.   Purchase of finished goods cost fell from 30.39% to 29.61%.   Employee cost decreased from 7.39% to 5.94%.   Other expenses fell from 14.29% to 14.09%.  

Other income rose 2.01% to Rs 7.62 crore.  PBIDT rose 67.91% to Rs 253.74 crore.  Provision for interest fell 7.60% to Rs 2.43 crore.  PBDT rose 69.24% to Rs 251.31 crore.  Provision for depreciation rose 11.93% to Rs 24.58 crore.  Profit before tax grew 79.19% to Rs 226.73 crore.  Provision for tax was expense of Rs 57.56 crore, compared to Rs 32.45 crore.  Effective tax rate was 25.39% compared to 25.65%.

Net profit attributable to owners of the company increased 79.82% to Rs 169.17 crore. 

Promoters’ stake was 70.19% as of 31 December 2021 compared to 66.49% as of 31 December 2020. 

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 489