Standalone net sales (including other operating income) of Honeywell Automation India for the quarter ended Mar 2022 has declined 1% to Rs 667.98 crore. Operating profit margin has declined from 19.2% to 13.1%, leading to 32% decline in operating profit to Rs 87.30 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.82% to 40.59%. Purchase of finished goods cost rose from 9.11% to 10.81%. Employee cost increased from 18.20% to 20.98%. Other expenses rose from 12.25% to 14.77%. Other income up 6.32% to Rs 25.23 crore. PBIDT fell 26.40% to Rs 112.53 crore. Provision for interest fell 27.88% to Rs 1.19 crore. PBDT fell 26.38% to Rs 111.34 crore. Provision for depreciation down 1.93% to Rs 12.73 crore. Profit before tax down 28.68% to Rs 98.61 crore. Provision for tax was expense of Rs 25.94 crore, compared to Rs 34.24 crore. Effective tax rate was 26.31% compared to 24.76%. Profit after tax fell 30.14% to Rs 72.67 crore. Yearly Performance Net sales (including other operating income) has declined 3.10% to Rs 2,948.32 crore. Operating profit margin has declined from 19.35% to 14.69%, leading to 26.44% decline in operating profit to Rs 433.23 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 41.47% to 42.31%. Purchase of finished goods cost rose from 9.17% to 10.08%. Employee cost increased from 17.12% to 18.91%. Other expenses rose from 13.01% to 14.00%. Other income fell 1.94% to Rs 82.34 crore. PBIDT fell 23.38% to Rs 515.57 crore. Provision for interest fell 11.59% to Rs 5.49 crore. PBDT fell 23.49% to Rs 510.08 crore. Provision for depreciation rose 7.81% to Rs 52.46 crore. Profit before tax down 25.95% to Rs 457.62 crore. Provision for tax was expense of Rs 118.49 crore, compared to Rs 157.98 crore. Effective tax rate was 25.89% compared to 25.56%. Profit after tax fell 26.28% to Rs 339.13 crore. Other developments Recommended a dividend of Rs. 90 /- (Rupees Ninety only) per Equity share of face value Rs. 10/- each for the financial year ended March 31, 2022. This payment is subject to the approval of shareholders in the Annual General Meeting of the Company. The said dividend, if declared at the ensuing Annual General Meeting of the Company shall be paid on September 02, 2022. Equity capital stood at Rs 8.84 crore as of 31 March 2022 to Rs 8.84 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 . Loan funds declined from Rs 73.89 crore as of 31 March 2021 to Rs 55.74 crore as of 31 March 2022. Inventories rose to Rs 98.61 crore as of 31 March 2022 from Rs 95.41 crore as of 31 March 2021. Sundry debtors were lower at Rs 675.13 crore as of 31 March 2022 compared to Rs 922.67 crore as of 31 March 2021. Cash and bank balance rose to Rs 2,006.22 crore as of 31 March 2022 from Rs 1,796.86 crore as of 31 March 2021. Fixed assets declined from Rs 218.66 crore as of 31 March 2021 to Rs 182.86 crore as of 31 March 2022. Intangible assets declined from Rs 0.04 crore to Rs 0.03 crore. Cash flow from operating activities decreased to Rs 263.58 crore for year ended March 2022 from Rs 364.40 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 12.65 crore, compared to Rs 48.54 crore during the year ended March 2021.
| Honeywell Automation India : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 667.98 | 672.70 | -0.70 | 2,948.32 | 3,042.78 | -3.10 | | OPM (%) | 13.07 | 19.20 | -613 bps | 14.69 | 19.35 | -466 bps | | OP | 87.30 | 129.16 | -32.41 | 433.23 | 588.92 | -26.44 | | Other Inc. | 25.23 | 23.73 | 6.32 | 82.34 | 83.97 | -1.94 | | PBIDT | 112.53 | 152.89 | -26.40 | 515.57 | 672.89 | -23.38 | | Interest | 1.19 | 1.65 | -27.88 | 5.49 | 6.21 | -11.59 | | PBDT | 111.34 | 151.24 | -26.38 | 510.08 | 666.68 | -23.49 | | Depreciation | 12.73 | 12.98 | -1.93 | 52.46 | 48.66 | 7.81 | | PBT | 98.61 | 138.26 | -28.68 | 457.62 | 618.02 | -25.95 | | PBT before EO | 98.61 | 138.26 | -28.68 | 457.62 | 618.02 | -25.95 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 98.61 | 138.26 | -28.68 | 457.62 | 618.02 | -25.95 | | Taxation | 25.94 | 34.24 | -24.24 | 118.49 | 157.98 | -25.00 | | PAT | 72.67 | 104.02 | -30.14 | 339.13 | 460.04 | -26.28 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 72.67 | 104.02 | -30.14 | 339.13 | 460.04 | -26.28 | | EPS (Rs)* | 82.21 | 117.67 | -30.14 | 383.63 | 520.41 | -26.28 | | | * EPS is on current equity of Rs 8.84 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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Peer Comparision (Standalone)
|
Q-202203
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
12-May-2022
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Honeywell Automation India Ltd
|
667.98
|
-0.7
|
87.30
|
-32.41
|
72.67
|
-30.14
|
37,209.95
|
-15.89
|
383.63
|
96.99
|
|
Cosmo Ferrites Ltd
|
33.09
|
75.26
|
6.99
|
213.45
|
5.67
|
146.52
|
535.45
|
2,339.41
|
13.39
|
39.98
|
|
Genus Power Infrastructures Ltd
|
181.04
|
-5.05
|
19.13
|
-51.51
|
10.98
|
-63.2
|
80.95
|
52.59
|
1.00
|
80.77
|
|
Industry
|
882.11
|
-0.02
|
113.42
|
-33.61
|
89.32
|
-34.4
|
37,569.93
|
-12.99
|
|
21.88
|
|