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For the
quarter ending March 2022, consolidated net sales (including other operating income) of Precision Camshafts has increased 4.66% to Rs 229.03 crore compared to quarter ended march 2021. Sales of India segment has gone up 7.31% to Rs 83.25 crore (accounting for 36.35% of total sales). Sales of Asia (Other Than China) segment rose 94.08% to Rs 16.78 crore (accounting for 7.33% of total sales). Sales of Europe segment has gone down 13.87% to Rs 99.63 crore (accounting for 43.50% of total sales). Sales of Others segment has gone up 89.85% to Rs 29.37 crore (accounting for 12.82% of total sales). Operating profit margin has jumped from 4.42% to 11.10%, leading to 162.60% rise in operating profit to Rs 25.42 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 39.62% to 47.00%. Employee cost decreased from 17.65% to 15.64%. Other expenses fell from 38.54% to 27.96%. Other income rose 19.16% to Rs 4.54 crore. PBIDT rose 122.09% to Rs 29.96 crore. Provision for interest fell 8.76% to Rs 1.98 crore. Loan funds declined from Rs 175.70 crore as of 31 March 2021 to Rs 136.36 crore as of 31 March 2022. Inventories rose to Rs 192.75 crore as of 31 March 2022 from Rs 124.20 crore as of 31 March 2021. Sundry debtors were higher at Rs 164.12 crore as of 31 March 2022 compared to Rs 154.29 crore as of 31 March 2021. Cash and bank balance declined from Rs 67.32 crore as of 31 March 2021 to Rs 51.93 crore as of 31 March 2022. Investments declined from Rs 196.42 crore as of 31 March 2021 to Rs 194.26 crore as of 31 March 2022. PBDT rose 147.17% to Rs 27.98 crore. Provision for depreciation rose 56.51% to Rs 33.9 crore. Fixed assets declined from Rs 418.84 crore as of 31 March 2021 to Rs 377.83 crore as of 31 March 2022. Intangible assets declined from Rs 16.45 crore to Rs 16.41 crore. Loss before tax has fallen 42.75% to Rs -5.92 crore. Share of profit/loss were nil in both the periods. Extraordinary items stood at Rs 14.4 crore compared to nil. Provision for tax was expense of Rs 1.51 crore, compared to Rs 5.13 crore. Effective tax rate was 17.81% compared to negative 49.61%. Minority interest was nil in both the periods. Net profit attributable to owners of the company stood at Rs 6.97 crore compared to loss of Rs 15.47 crore.
Equity capital stood at Rs 94.99 crore as of 31 March 2022 to Rs 94.99 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 65.37% as of 31 March 2022 ,compared to 65.37% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Precision Camshafts has increased 26.24% to Rs 895.02 crore. Sales of India segment has gone up 35.99% to Rs 282.24 crore (accounting for 31.53% of total sales). Sales of Asia (Other Than China) segment rose 42.19% to Rs 63.66 crore (accounting for 7.11% of total sales). Sales of China segment has gone down 83.43% to Rs 0.74 crore (accounting for 0.08% of total sales). Sales of Europe segment has gone up 14.82% to Rs 461.29 crore (accounting for 51.54% of total sales). Sales of Others segment has gone up 72.57% to Rs 87.09 crore (accounting for 9.73% of total sales). Operating profit margin has jumped from 8.67% to 12.73%, leading to 85.39% rise in operating profit to Rs 113.92 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.50% to 42.77%. Employee cost decreased from 19.99% to 16.90%. Other expenses fell from 30.93% to 28.18%. Other income fell 26.91% to Rs 18.93 crore. PBIDT rose 52.09% to Rs 132.85 crore. Provision for interest fell 4.58% to Rs 7.29 crore. Loan funds declined from Rs 175.70 crore as of 31 March 2021 to Rs 136.36 crore as of 31 March 2022. Inventories rose to Rs 192.75 crore as of 31 March 2022 from Rs 124.20 crore as of 31 March 2021. Sundry debtors were higher at Rs 164.12 crore as of 31 March 2022 compared to Rs 154.29 crore as of 31 March 2021. Cash and bank balance declined from Rs 67.32 crore as of 31 March 2021 to Rs 51.93 crore as of 31 March 2022. Investments declined from Rs 196.42 crore as of 31 March 2021 to Rs 194.26 crore as of 31 March 2022. PBDT rose 57.52% to Rs 125.56 crore. Provision for depreciation rose 16.02% to Rs 92.03 crore. Fixed assets declined from Rs 418.84 crore as of 31 March 2021 to Rs 377.83 crore as of 31 March 2022. Intangible assets declined from Rs 16.45 crore to Rs 16.41 crore. Profit before tax grew 8,497.44% to Rs 33.53 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs 27.41 crore. Provision for tax was expense of Rs 14.92 crore, compared to Rs 16.26 crore. Effective tax rate was 24.48% compared to 104.97%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 1,909.61% to Rs 46.02 crore. Equity capital stood at Rs 94.99 crore as of 31 March 2022 to Rs 94.99 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 65.37% as of 31 March 2022 ,compared to 65.37% as of 31 March 2021 .
| Precision Camshafts : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 229.03 | 218.83 | 4.66 | 895.02 | 708.98 | 26.24 | | OPM (%) | 11.10 | 4.42 | 668 bps | 12.73 | 8.67 | 406 bps | | OP | 25.42 | 9.68 | 162.60 | 113.92 | 61.45 | 85.39 | | Other Inc. | 4.54 | 3.81 | 19.16 | 18.93 | 25.90 | -26.91 | | PBIDT | 29.96 | 13.49 | 122.09 | 132.85 | 87.35 | 52.09 | | Interest | 1.98 | 2.17 | -8.76 | 7.29 | 7.64 | -4.58 | | PBDT | 27.98 | 11.32 | 147.17 | 125.56 | 79.71 | 57.52 | | Depreciation | 33.9 | 21.66 | 56.51 | 92.03 | 79.32 | 16.02 | | PBT | -5.92 | -10.34 | 42.75 | 33.53 | 0.39 | 8,497.44 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | -5.92 | -10.34 | 42.75 | 33.53 | 0.39 | 8,497.44 | | EO Income | 14.4 | 0 | - | 27.41 | 15.1 | 81.52 | | PBT after EO | 8.48 | -10.34 | LP | 60.94 | 15.49 | 293.42 | | Taxation | 1.51 | 5.13 | -70.57 | 14.92 | 16.26 | -8.24 | | PAT | 6.97 | -15.47 | LP | 46.02 | -0.77 | LP | | Minority Interest (MI) | 0 | 0 | - | 0 | -3.06 | - | | Net profit | 6.97 | -15.47 | LP | 46.02 | 2.29 | 1,909.61 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 6.97 | -15.47 | LP | 46.02 | 2.29 | 1,909.61 | | EPS (Rs)* | -0.62 | -1.63 | 61.73 | 2.67 | 0.01 | 42,100.00 | | | * EPS is on current equity of Rs 94.99 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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| Precision Camshafts : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | India | 36.35 | 83.25 | 77.59 | 7.31 | 31.53 | 282.24 | 207.55 | 35.99 | | Outside India | 0.00 | 0.00 | 0.00 | - | | Asia (Other Than China) | 7.33 | 16.78 | 8.65 | 94.08 | 7.11 | 63.66 | 44.77 | 42.19 | | China | 0.00 | 0.00 | 1.46 | - | 0.08 | 0.74 | 4.44 | -83.43 | | Europe | 43.50 | 99.63 | 115.67 | -13.87 | 51.54 | 461.29 | 401.75 | 14.82 | | Others | 12.82 | 29.37 | 15.47 | 89.85 | 9.73 | 87.09 | 50.47 | 72.57 | | Total Reported Sales | 100.00 | 229.03 | 218.83 | 4.66 | 100.00 | 895.02 | 708.98 | 26.24 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 229.03 | 218.83 | 4.66 | 100.00 | 895.02 | 708.98 | 26.24 | | PBIT | | India | 0.00 | 0.00 | 0.00 | - | | Outside India | 0.00 | 0.00 | 0.00 | - | | Asia (Other Than China) | 0.00 | 0.00 | 0.00 | - | | China | 0.00 | 0.00 | 0.00 | - | | Europe | 0.00 | 0.00 | 0.00 | - | | Others | 0.00 | 0.00 | 0.00 | - | | Total PBIT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - | | Less : Interest | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | PBIT Margin(%) | | India | | 0.00 | 0.00 | 0.00 | | Outside India | | 0.00 | 0.00 | 0.00 | | Asia (Other Than China) | | 0.00 | 0.00 | 0.00 | | China | | 0.00 | 0.00 | 0.00 | | Europe | | 0.00 | 0.00 | 0.00 | | Others | | 0.00 | 0.00 | 0.00 | | PBT | 100.00 | 0.00 | 0.00 | - | 100.00 | 0.00 | 0.00 | - |
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