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Results
31-Jan-23
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Analysis
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Tega Industries
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OP up 32%
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Consolidated net sales (including other operating income) of Tega
Industries has increased 15.18% to Rs 296.93 crore in Q3FY23 compared to
Q3FY22. Operating profit margin has
jumped from 19.78% to 22.66%, leading to 31.94% rise in operating profit to Rs
67.29 crore. Raw material cost as a % of
total sales (net of stock adjustments) increased from 43.75% to 44.13%. Employee cost increased from 13.39% to
13.57%. Other expenses fell from 23.37%
to 19.21%.
Other income rose 191.99% to Rs 10.57 crore. PBIDT rose 42.55% to Rs 77.86 crore. Provision for interest rose 109.47% to Rs
5.09 crore.
PBDT rose 39.43% to Rs 72.77 crore.
Provision for depreciation rose 16.67% to Rs 10.36 crore.
Profit before tax grew 44.10% to Rs 62.41 crore. Share of profit/loss was 38.75% higher at Rs
1.11 crore. Provision for tax was
expense of Rs 15.15 crore, compared to Rs 10.52 crore.
Effective tax rate was 23.85% compared to 23.85%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 44% to Rs 48.37 crore.
Promoters’ stake was 79.17% as of 31 December 2022 compared to 79.17% as of
31 December 2021 .
For year-to-date (YTD)
results analysis
Net sales (including other operating income) of Tega Industries has
increased 23.56% to Rs 817.57 crore.
Operating profit margin has jumped from 17.21% to 20.50%, leading to 47.12%
rise in operating profit to Rs 167.59 crore.
Raw material cost as a % of total sales (net of stock adjustments)
increased from 43.18% to 43.65%.
Employee cost decreased from 15.80% to 14.57%. Other expenses fell from 24.21% to 21.51%.
Other income rose 19.19% to Rs 14.04 crore.
PBIDT rose 44.51% to Rs 181.63 crore.
Provision for interest rose 73.20% to Rs 14.93 crore.
PBDT rose 42.39% to Rs 166.7 crore.
Provision for depreciation fell 1.49% to Rs 29.14 crore.
Profit before tax grew 57.23% to Rs 137.56 crore. Share of profit/loss was 43.69% higher at Rs
2.96 crore. Provision for tax was
expense of Rs 33.75 crore, compared to Rs 21.53 crore. Effective tax rate was 24.02% compared to
24.04%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 56.97% to Rs 106.77 crore.
Promoters’ stake was 79.17% as of 31 December 2022 ,compared to 79.17% as
of 31 December 2021.
Full year results
analysis
Net sales of Tega Industries have increased 18.15% to Rs 951.76 crore. Operating profit margin has declined from
23.28% to 19.21%, leading to 2.47% decline in operating profit to Rs 182.85
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 40.52% to 42.36%. Employee cost
decreased from 15.15% to 15.05%. Other
expenses rose from 21.18% to 23.39%.
Other income fell 52.70% to Rs 24.2 crore.
PBIDT fell 13.24% to Rs 207.05 crore.
Provision for interest fell 6.25% to Rs 16.2 crore. Loan funds rose to Rs 245.17 crore as of 31
March 2022 from Rs 219.67 crore as of 31 March 2021. Inventories rose to Rs 252.14 crore as of 31
March 2022 from Rs 158.63 crore as of 31 March 2021. Sundry debtors were higher at Rs 276.52 crore
as of 31 March 2022 compared to Rs 220.86 crore as of 31 March 2021. Cash and bank balance declined from Rs 48.41
crore as of 31 March 2021 to Rs 40.20 crore as of 31 March 2022. Investments declined from Rs 201.30 crore as
of 31 March 2021 to Rs 198.53 crore as of 31 March 2022.
PBDT fell 13.79% to Rs 190.85 crore.
Provision for depreciation fell 3.68% to Rs 38.7 crore. Fixed assets increased to Rs 242.57 crore as
of 31 March 2022 from Rs 239.72 crore as of 31 March 2021. Intangible assets increased from Rs 63.28
crore to Rs 65.90 crore.
Profit before tax down 16.03% to Rs 152.15 crore. Share of profit/loss was 5.22% higher at Rs
2.82 crore. Provision for tax was
expense of Rs 38.07 crore, compared to Rs 47.46 crore. Effective tax rate was 24.57% compared to
25.81%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company decreased 14.30% to Rs 116.90 crore.
Equity capital stood at Rs 66.29 crore as of 31 March 2022 to Rs 66.29
crore as of 31 March 2021. Per share
face Value remained same at Rs 10.00.
Promoters’ stake was 79.17% as of 31 March 2022
Cash flow from operating activities decreased to Rs 13.71 crore for year
ended March 2022 from Rs 170.25 crore for year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 41.00 crore, compared to Rs 48.61
crore during the year ended March 2021.
The scrip is currently trading at Rs 609
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Tega Industries : Consolidated
Results
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Particulars
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2212 (03)
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2112 (03)
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Var.(%)
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2212 (09)
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2112 (09)
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Var.(%)
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2203 (12)
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2103 (12)
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Var.(%)
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Net Sales
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296.93
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257.79
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15
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817.57
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661.7
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24
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951.76
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805.52
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18
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OPM (%)
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22.7
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19.8
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20.5
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17.2
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19.2
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23.3
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OP
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67.29
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51
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32
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167.59
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113.91
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47
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182.85
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187.49
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-2
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Other Inc.
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10.57
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3.62
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192
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14.04
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11.78
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19
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24.2
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51.16
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-53
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PBIDT
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77.86
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54.62
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43
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181.63
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125.69
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45
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207.05
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238.65
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-13
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Interest
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5.09
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2.43
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109
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14.93
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8.62
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73
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16.2
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17.28
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-6
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PBDT
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72.77
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52.19
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39
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166.7
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117.07
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42
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190.85
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221.37
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-14
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Depreciation
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10.36
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8.88
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17
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29.14
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29.58
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-1
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38.7
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40.18
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-4
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PBT
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62.41
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43.31
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44
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137.56
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87.49
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57
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152.15
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181.19
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-16
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Share of Profit/(Loss) from Associates
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1.11
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0.8
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39
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2.96
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2.06
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44
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2.82
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2.68
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5
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PBT before EO
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63.52
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44.11
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44
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140.52
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89.55
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57
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154.97
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183.87
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-16
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EO Income
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0
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0
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0
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0
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0
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0
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-
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PBT after EO
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63.52
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44.11
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140.52
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89.55
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154.97
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183.87
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-16
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Taxation
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15.15
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10.52
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44
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33.75
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21.53
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57
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38.07
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47.46
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-20
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PAT
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48.37
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33.59
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44
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106.77
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68.02
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57
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116.9
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136.41
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-14
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Minority Interest (MI)
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0
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0
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0
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0
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0
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0
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-
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Net profit
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48.37
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33.59
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44
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106.77
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68.02
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57
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116.9
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136.41
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-14
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EPS (Rs)*
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#
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#
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#
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#
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17.6
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20.6
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Notes
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* EPS is on current equity of Rs 66.29 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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