For
the quarter ending sept 2022, consolidated net sales (including other operating income) of Sona BLW Precision Forgings has increased 12.24% to Rs 657.39 crore compared to quarter ended sept 2021.Operating profit margin has declined from 26.36% to 25.21%, leading to 7.33% rise in operating profit to Rs 165.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.05% to 46.89%. Employee cost decreased from 7.37% to 6.73%. Other expenses rose from 19.61% to 21.13%. Other income rose 414.55% to Rs 2.83 crore. PBIDT rose 8.78% to Rs 168.56 crore. Provision for interest rose 51.05% to Rs 4.32 crore. Loan funds rose to Rs 255.38 crore as of 30 September 2022 from Rs 182.29 crore as of 30 September 2021. Inventories rose to Rs 366.91 crore as of 30 September 2022 from Rs 334.58 crore as of 30 September 2021. Sundry debtors were higher at Rs 539.24 crore as of 30 September 2022 compared to Rs 450.36 crore as of 30 September 2021. Cash and bank balance declined from Rs 100.36 crore as of 30 September 2021 to Rs 77.51 crore as of 30 September 2022. Investments rose to Rs 127.32 crore as of 30 September 2022 from Rs 18.02 crore as of 30 September 2021 .
PBDT rose 7.98% to Rs 164.24 crore. Provision for depreciation rose 20.77% to Rs 42.92 crore. Fixed assets increased to Rs 1,417.68 crore as of 30 September 2022 from Rs 699.86 crore as of 30 September 2021. Intangible assets declined from Rs 689.24 crore to Rs 175.81 crore.
Profit before tax grew 4.08% to Rs 121.32 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 28.77 crore, compared to Rs 28.33 crore. Effective tax rate was 23.71% compared to 24.31%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 4.90% to Rs 92.55 crore. Equity capital increased from Rs 583.29 crore as of 30 September 2021 to Rs 584.35 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 53.59% as of 30 September 2022 ,compared to 67.30% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 14.74% to Rs 1246.61 crore.
Operating profit margin has declined from 26.98% to 24.73%, leading to 5.15% rise in operating profit to Rs 308.24 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.95% to 46.24%. Employee cost decreased from 7.84% to 6.99%. Other expenses rose from 19.71% to 22.02%. Other income rose 436.11% to Rs 3.86 crore. PBIDT rose 6.20% to Rs 312.1 crore. Provision for interest fell 37.14% to Rs 7.21 crore. Loan funds rose to Rs 255.38 crore as of 30 September 2022 from Rs 182.29 crore as of 30 September 2021. Inventories rose to Rs 366.91 crore as of 30 September 2022 from Rs 334.58 crore as of 30 September 2021. Sundry debtors were higher at Rs 539.24 crore as of 30 September 2022 compared to Rs 450.36 crore as of 30 September 2021. Cash and bank balance declined from Rs 100.36 crore as of 30 September 2021 to Rs 77.51 crore as of 30 September 2022. Investments rose to Rs 127.32 crore as of 30 September 2022 from Rs 18.02 crore as of 30 September 2021 .
PBDT rose 7.96% to Rs 304.89 crore. Provision for depreciation rose 20.31% to Rs 82.93 crore. Fixed assets increased to Rs 1,417.68 crore as of 30 September 2022 from Rs 699.86 crore as of 30 September 2021. Intangible assets declined from Rs 689.24 crore to Rs 175.81 crore.
Profit before tax grew 3.98% to Rs 221.96 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 53.57 crore, compared to Rs 56.28 crore. Effective tax rate was 24.13% compared to 24.82%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 1.21% to Rs 168.39 crore.
Equity capital increased from Rs 583.29 crore as of 30 September 2021 to Rs 584.35 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 53.59% as of 30 September 2022 ,compared to 67.30% as of 30 September 2021 .
Cash flow from operating activities increased to Rs 230.72 crore for YTD ended September 2022 from Rs 221.14 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 165.82 crore, compared to Rs 150.03 crore during the YTD ended September 2021.
Full year results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 36.03% to Rs 2130.64 crore. Operating profit margin has declined from 28.16% to 26.24%, leading to 26.77% rise in operating profit to Rs 559.10 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.51% to 45.50%. Employee cost decreased from 9.04% to 7.77%. Other expenses rose from 20.39% to 21.02%. Other income rose 755.98% to Rs 20.03 crore. PBIDT rose 30.62% to Rs 579.13 crore. Provision for interest fell 43.85% to Rs 18.26 crore. Loan funds declined from Rs 447.20 crore as of 31 March 2021 to Rs 151.15 crore as of 31 March 2022. Inventories rose to Rs 363.38 crore as of 31 March 2022 from Rs 305.56 crore as of 31 March 2021. Sundry debtors were higher at Rs 445.19 crore as of 31 March 2022 compared to Rs 416.99 crore as of 31 March 2021. Cash and bank balance rose to Rs 77.25 crore as of 31 March 2022 from Rs 27.58 crore as of 31 March 2021.
PBDT rose 36.51% to Rs 560.87 crore. Provision for depreciation rose 46.45% to Rs 141.97 crore. Fixed assets increased to Rs 1,355.70 crore as of 31 March 2022 from Rs 1,124.00 crore as of 31 March 2021. Intangible assets stood at Rs 175.81 crore.
Profit before tax grew 33.45% to Rs 418.90 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 70.63 crore, compared to Rs 84.83 crore. Effective tax rate was 16.34% compared to 28.28%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 68.03% to Rs 361.54 crore.
Equity capital increased from Rs 572.98 crore as of 31 March 2021 to Rs 584.35 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 67.18% as of 31 March 2022
Cash flow from operating activities increased to Rs 444.58 crore for year ended March 2022 from Rs 142.73 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 347.21 crore, compared to Rs 218.94 crore during the year ended March 2021.
Other Highlights
In
Q2 FY23, the net order book increased to Rs 20,500 crores from Rs 18,600 crores
as of 31st March.
In
Q2 FY23, Battery Electric Vehicles (BEV) revenue stood at Rs 131 crore with 6%
YoY growth. 68% of net order book relates to EV segment.
In
H1 FY23, company recorded BEV revenue growth of 33% YoY.
In
Q2 FY23, company has been awarded a new program from an Indian OEM of PVs and
CVs to supply differential assemblies for their upcoming BEV models. The
program`s start of production is in FY24.
The
company is shifting operations of its existing plant in Bhosari, Pune, to a new
and larger facility in Chakan, Pune. The new facility, with an area of 10 acres
compared to the older plant area of 1.12 acres, will allow company to scale-up
capacities to support the execution of a growing order book in the driveline
business.
Company’s