For
the quarter ending sept 2022, consolidated Net sales (including other operating income) of JTEKT India has increased 48.26% to Rs 570.99 crore compared to quarter ended sept 2021.Operating profit margin has jumped from 7.82% to 10.17%, leading to 92.80% rise in operating profit to Rs 58.07 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 69.35% to 71.47%. Purchase of finished goods cost rose from 0.04% to 0.05%. Employee cost decreased from 13.32% to 9.80%. Other expenses fell from 9.50% to 8.56%. Other income fell 37.94% to Rs 2.11 crore. PBIDT rose 79.53% to Rs 60.18 crore. Provision for interest rose 39.33% to Rs 1.24 crore. Loan funds rose to Rs 61.33 crore as of 30 September 2022 from Rs 52.79 crore as of 30 September 2021. Inventories rose to Rs 169.78 crore as of 30 September 2022 from Rs 147.66 crore as of 30 September 2021. Sundry debtors were higher at Rs 326.13 crore as of 30 September 2022 compared to Rs 196.78 crore as of 30 September 2021. Cash and bank balance declined from Rs 77.51 crore as of 30 September 2021 to Rs 29.16 crore as of 30 September 2022.
PBDT rose 80.63% to Rs 58.94 crore. Provision for depreciation fell 3.06% to Rs 17.76 crore. Fixed assets increased to Rs 472.03 crore as of 30 September 2022 from Rs 407.14 crore as of 30 September 2021. Intangible assets declined from Rs 29.48 crore to Rs 23.70 crore.
Profit before tax grew 187.77% to Rs 41.18 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 11.1 crore, compared to Rs 3.73 crore. Effective tax rate was 26.95% compared to 26.07%.
Minority interest increased 115.89% to Rs 2.31 crore. Net profit attributable to owners of the company increased 192.01% to Rs 27.77 crore. Equity capital stood at Rs 24.45 crore as of 30 September 2022 to Rs 24.45 crore as of 30 September 2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 73.98% as of 30 September 2022 ,compared to 75.00% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of JTEKT India has increased 47.67% to Rs 1042.72 crore.
Operating profit margin has jumped from 6.87% to 8.76%, leading to 88.39% rise in operating profit to Rs 91.35 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 69.19% to 71.02%. Purchase of finished goods cost fell from 0.05% to 0.02%. Employee cost decreased from 14.27% to 10.48%. Other expenses rose from 9.68% to 9.84%. Other income fell 12.18% to Rs 4.83 crore. PBIDT rose 78.14% to Rs 96.18 crore. Provision for interest rose 44.12% to Rs 2.45 crore. Loan funds rose to Rs 61.33 crore as of 30 September 2022 from Rs 52.79 crore as of 30 September 2021. Inventories rose to Rs 169.78 crore as of 30 September 2022 from Rs 147.66 crore as of 30 September 2021. Sundry debtors were higher at Rs 326.13 crore as of 30 September 2022 compared to Rs 196.78 crore as of 30 September 2021. Cash and bank balance declined from Rs 77.51 crore as of 30 September 2021 to Rs 29.16 crore as of 30 September 2022.
PBDT rose 79.25% to Rs 93.73 crore. Provision for depreciation fell 5.60% to Rs 34.87 crore. Fixed assets increased to Rs 472.03 crore as of 30 September 2022 from Rs 407.14 crore as of 30 September 2021. Intangible assets declined from Rs 29.48 crore to Rs 23.70 crore.
Profit before tax grew 283.45% to Rs 58.86 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs -3.26 crore. Provision for tax was expense of Rs 9.96 crore, compared to Rs 4.03 crore. Effective tax rate was 17.91% compared to 29.18%.Minority interest increased 152.03% to Rs 3.73 crore. Net profit attributable to owners of the company increased 404.94% to Rs 41.91 crore.
Equity capital stood at Rs 24.45 crore as of 30 September 2022 to Rs 24.45 crore as of 30 September 2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 73.98% as of 30 September 2022 ,compared to 75.00% as of 30 September 2021 .
Full year results analysis.
Net sales (including other operating income) of JTEKT India has increased 19.19% to Rs 1588.8 crore. Operating profit margin has jumped from 7.71% to 8.01%, leading to 23.97% rise in operating profit to Rs 127.34 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 68.91% to 69.77%. Purchase of finished goods cost fell from 0.06% to 0.05%. Employee cost decreased from 14.53% to 12.76%. Other expenses rose from 8.84% to 9.45%. Other income rose 87.36% to Rs 10.23 crore. PBIDT rose 27.17% to Rs 137.57 crore. Provision for interest fell 20.97% to Rs 3.73 crore. Loan funds rose to Rs 70.99 crore as of 31 March 2022 from Rs 48.52 crore as of 31 March 2021. Inventories rose to Rs 144.88 crore as of 31 March 2022 from Rs 130.46 crore as of 31 March 2021. Sundry debtors were lower at Rs 241.67 crore as of 31 March 2022 compared to Rs 256.29 crore as of 31 March 2021. Cash and bank balance rose to Rs 80.39 crore as of 31 March 2022 from Rs 74.77 crore as of 31 March 2021.
PBDT rose 29.36% to Rs 133.84 crore. Provision for depreciation fell 14.55% to Rs 70.88 crore. Fixed assets increased to Rs 472.10 crore as of 31 March 2022 from Rs 398.47 crore as of 31 March 2021. Intangible assets declined from Rs 36.58 crore to Rs 23.34 crore.
Profit before tax grew 206.97% to Rs 62.96 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 15.06 crore, compared to Rs 6.82 crore. Effective tax rate was 26.81% compared to 33.25%.
Minority interest increased 114.80% to Rs 4.21 crore. Net profit attributable to owners of the company increased 214.66% to Rs 36.91 crore.
Equity capital stood at Rs 24.45 crore as of 31 March 2022 to Rs 24.45 crore as of 31 March 2021. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 .
Cash flow from operating activities increased to Rs 107.52 crore for year ended March 2022 from Rs 91.26 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 121.59 crore, compared to Rs 37.10 crore during the year ended March 2021.
| JTEKT India : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 570.99 | 385.13 | 48.26 | 1,042.72 | 706.10 | 47.67 | 1,588.80 | 1,332.97 | 19.19 | | OPM (%) | 10.17 | 7.82 | 235 bps | 8.76 | 6.87 | 189 bps | 8.01 | 7.71 | 31 bps | | OP | 58.07 | 30.12 | 92.80 | 91.35 | 48.49 | 88.39 | 127.34 | 102.72 | 23.97 | | Other Inc. | 2.11 | 3.40 | -37.94 | 4.83 | 5.50 | -12.18 | 10.23 | 5.46 | 87.36 | | PBIDT | 60.18 | 33.52 | 79.53 | 96.18 | 53.99 | 78.14 | 137.57 | 108.18 | 27.17 | | Interest | 1.24 | 0.89 | 39.33 | 2.45 | 1.70 | 44.12 | 3.73 | 4.72 | -20.97 | | PBDT | 58.94 | 32.63 | 80.63 | 93.73 | 52.29 | 79.25 | 133.84 | 103.46 | 29.36 | | Depreciation | 17.76 | 18.32 | -3.06 | 34.87 | 36.94 | -5.60 | 70.88 | 82.95 | -14.55 | | PBT | 41.18 | 14.31 | 187.77 | 58.86 | 15.35 | 283.45 | 62.96 | 20.51 | 206.97 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 41.18 | 14.31 | 187.77 | 58.86 | 15.35 | 283.45 | 62.96 | 20.51 | 206.97 | | EO Income | 0 | 0 | - | -3.26 | -1.54 | -111.69 | -6.78 | 0 | - | | PBT after EO | 41.18 | 14.31 | 187.77 | 55.6 | 13.81 | 302.61 | 56.18 | 20.51 | 173.92 | | Taxation | 11.1 | 3.73 | 197.59 | 9.96 | 4.03 | 147.15 | 15.06 | 6.82 | 120.82 | | PAT | 30.08 | 10.58 | 184.31 | 45.64 | 9.78 | 366.67 | 41.12 | 13.69 | 200.37 | | Minority Interest (MI) | 2.31 | 1.07 | 115.89 | 3.73 | 1.48 | 152.03 | 4.21 | 1.96 | 114.80 | | Net profit | 27.77 | 9.51 | 192.01 | 41.91 | 8.3 | 404.94 | 36.91 | 11.73 | 214.66 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 27.77 | 9.51 | 192.01 | 41.91 | 8.3 | 404.94 | 36.91 | 11.73 | 214.66 | | EPS (Rs)* | 1.14 | 0.39 | 192.01 | 1.81 | 0.38 | 380.72 | 1.69 | 0.48 | 252.60 | | | * EPS is on current equity of Rs 24.45 crore, Face value of Rs 1, 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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