For the
quarter ending March 2022, standalone net sales (including other operating income) of Kalyani Forge has declined 0.72% to Rs 66.40 crore compared to quarter ended march 2021.
Operating profit margin has declined from 6.95% to 5.98%, leading to 14.62% decline in operating profit to Rs 3.97 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 51.39% to 52.00%. Employee cost decreased from 14.21% to 13.80%. Other expenses rose from 27.35% to 28.06%. Other direct service cost fell from 20.89% to 18.56%. Other income up 645.45% to Rs 0.82 crore. PBIDT rose 0.63% to Rs 4.79 crore. Provision for interest up 103.85% to Rs 1.06 crore. Loan funds declined from Rs 26.10 crore as of 31 March 2021 to Rs 26.06 crore as of 31 March 2022. Inventories rose to Rs 48.87 crore as of 31 March 2022 from Rs 44.88 crore as of 31 March 2021. Sundry debtors were higher at Rs 72.82 crore as of 31 March 2022 compared to Rs 67.02 crore as of 31 March 2021. Cash and bank balance rose to Rs 4.90 crore as of 31 March 2022 from Rs 2.72 crore as of 31 March 2021. Investments stood at Rs 0.01 crore as of 31 March 2022 to Rs 0.01 crore as of 31 March 2021. PBDT fell 12.03% to Rs 3.73 crore. Provision for depreciation down 3.49% to Rs 3.04 crore. Fixed assets declined from Rs 54.13 crore as of 31 March 2021 to Rs 46.25 crore as of 31 March 2022. Profit before tax down 36.70% to Rs 0.69 crore. Provision for tax was credit of Rs 0.07 crore, compared to debit of Rs 1.45 crore. Effective tax rate was negative 10.14% compared to 133.03%. Profit after tax reported profit of Rs 0.76 crore compared to loss of Rs 0.36 crore. Equity capital stood at Rs 3.64 crore as of 31 March 2022 to Rs 3.64 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 58.61% as of 31 March 2022 ,compared to 58.61% as of 31 March 2021 .
Full year results analysis
Net sales (including other operating income) of Kalyani Forge has increased 36.35% to Rs 246.50 crore. Operating profit margin has jumped from 6.68% to 7.57%, leading to 54.68% rise in operating profit to Rs 18.67 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 51.12% to 53.48%. Employee cost decreased from 14.61% to 14.38%. Other expenses fell from 27.59% to 24.52%. Other direct service cost fell from 22.19% to 19.27%. Other income fell 10.81% to Rs 1.32 crore. PBIDT rose 47.53% to Rs 19.99 crore. Provision for interest up 29.64% to Rs 3.63 crore. Loan funds declined from Rs 26.10 crore as of 31 March 2021 to Rs 26.06 crore as of 31 March 2022. Inventories rose to Rs 48.87 crore as of 31 March 2022 from Rs 44.88 crore as of 31 March 2021. Sundry debtors were higher at Rs 72.82 crore as of 31 March 2022 compared to Rs 67.02 crore as of 31 March 2021. Cash and bank balance rose to Rs 4.90 crore as of 31 March 2022 from Rs 2.72 crore as of 31 March 2021. Investments stood at Rs 0.01 crore as of 31 March 2022 to Rs 0.01 crore as of 31 March 2021. PBDT rose 52.19% to Rs 16.36 crore. Provision for depreciation down 3.74% to Rs 12.34 crore. Fixed assets declined from Rs 54.13 crore as of 31 March 2021 to Rs 46.25 crore as of 31 March 2022. Profit before tax reported profit of Rs 4.02 crore compared to loss of Rs 2.07 crore. Provision for tax was debit of Rs 0.89 crore, compared to credit of Rs 0.31 crore. Effective tax rate was 22.14% compared to 14.98%. Profit after tax reported profit of Rs 3.13 crore compared to loss of Rs 1.76 crore. Equity capital stood at Rs 3.64 crore as of 31 March 2022 to Rs 3.64 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 58.61% as of 31 March 2022 ,compared to 58.61% as of 31 March 2021 .
Other Highlights
Board of Directors has recommended dividend for the current
year of Rs 3.00 per equity share.
| Kalyani Forge : Standalone 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) | 66.40 | 66.88 | -0.72 | 246.50 | 180.78 | 36.35 | | OPM (%) | 5.98 | 6.95 | -97 bps | 7.57 | 6.68 | 90 bps | | OP | 3.97 | 4.65 | -14.62 | 18.67 | 12.07 | 54.68 | | Other Inc. | 0.82 | 0.11 | 645.45 | 1.32 | 1.48 | -10.81 | | PBIDT | 4.79 | 4.76 | 0.63 | 19.99 | 13.55 | 47.53 | | Interest | 1.06 | 0.52 | 103.85 | 3.63 | 2.8 | 29.64 | | PBDT | 3.73 | 4.24 | -12.03 | 16.36 | 10.75 | 52.19 | | Depreciation | 3.04 | 3.15 | -3.49 | 12.34 | 12.82 | -3.74 | | PBT | 0.69 | 1.09 | -36.70 | 4.02 | -2.07 | LP | | PBT before EO | 0.69 | 1.09 | -36.70 | 4.02 | -2.07 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 0.69 | 1.09 | -36.70 | 4.02 | -2.07 | LP | | Taxation | -0.07 | 1.45 | LP | 0.89 | -0.31 | PL | | PAT | 0.76 | -0.36 | LP | 3.13 | -1.76 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 0.76 | -0.36 | LP | 3.13 | -1.76 | LP | | EPS (Rs)* | 2.09 | -0.99 | LP | 8.60 | -4.84 | LP | | | * EPS is on current equity of Rs 3.64 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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