PBIT margin of AMESA segment rose from 10.95% to 11.47%.  PBIT margin of EAP segment fell from 17.04% to 16.13%.  PBIT margin of AMERICAS segment rose from 2.79% to 4.82%.  PBIT margin of EUROPE segment fell from negative 1.27% to negative 1.88%.  Overall PBIT margin fell from 8.62% to 8.46%. 

Operating profit margin has jumped from 15.70% to 15.77%, leading to 7.43% rise in operating profit to Rs 149.00 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 45.25% to 46.51%.   Employee cost decreased from 19.09% to 18.08%.

Other income rose 38.71% to Rs 4.3 crore.  PBIDT rose 8.11% to Rs 153.3 crore.  Provision for interest rose 83.50% to Rs 18.9 crore. 

PBDT rose 2.21% to Rs 134.4 crore.  Provision for depreciation rose 8.88% to Rs 69.9 crore. 

Profit before tax down 4.16% to Rs 64.50 crore.  Share of profit/loss was 16.67% higher at Rs -0.5 crore.  Provision for tax was expense of Rs 1 crore, compared to Rs 8.2 crore.  Effective tax rate was 1.56% compared to 12.29%.

Minority interest decreased 85.71% to Rs 0.20 crore.  Net profit attributable to owners of the company increased 9.98% to Rs 62.80 crore. 

Promoters’ stake was 51.53% as of 31 December 2022 ,compared to 51.91% as of 31 December 2021 . 

For year-to-date (YTD) results analysis

Net sales of EPL have increased 6.75% to Rs 2724.8 crore.  Sales of AMESA segment has gone up 13.09% to Rs 1,031.30 crore (accounting for 35.49% of total sales).  Sales of EAP segment has gone down 4.48% to Rs 635.70 crore (accounting for 21.87% of total sales).  Sales of AMERICAS segment rose 19.66% to Rs 645.90 crore (accounting for 22.22% of total sales).  Sales of EUROPE segment has gone up 9.91% to Rs 593.30 crore (accounting for 20.41% of total sales).  Inter-segment sales rose Rs 105.20 crore to Rs 182.40 crore. 

Profit before interest, tax and other unallocable items (PBIT) has slumped 7.70% to Rs 242.30 crore.  PBIT of AMESA segment rose 2.95% to Rs 104.60 crore (accounting for 43.17% of total PBIT).  PBIT of EAP segment fell 11.46% to Rs 98.90 crore (accounting for 40.82% of total PBIT).  PBIT of AMERICAS segment fell 5.88% to Rs 32.00 crore (accounting for 13.21% of total PBIT).  PBIT of EUROPE segment fell 55.26% to Rs 6.80 crore (accounting for 2.81% of total PBIT). 

PBIT margin of AMESA segment fell from 11.14% to 10.14%.  PBIT margin of EAP segment fell from 16.78% to 15.56%.  PBIT margin of AMERICAS segment fell from 6.30% to 4.95%.  PBIT margin of EUROPE segment fell from 2.82% to 1.15%.  Overall PBIT margin fell from 9.88% to 8.34%. 

Operating profit margin has declined from 17.35% to 15.53%, leading to 4.47% decline in operating profit to Rs 423.20 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 44.25% to 46.13%.   Employee cost decreased from 18.90% to 18.42%.   Other expenses rose from 19.70% to 20.22%.  

Other income rose 56.12% to Rs 15.3 crore.  PBIDT fell 3.16% to Rs 438.5 crore.  Provision for interest rose 61.94% to Rs 46.8 crore. 

PBDT fell 7.60% to Rs 391.7 crore.  Provision for depreciation rose 7.01% to Rs 201.5 crore. 

Profit before tax down 19.27% to Rs 190.20 crore.  Share of profit/loss was 53.95% higher at Rs -3.5 crore.  PBT before EO was down 18% to Rs 186.7 crore. The company reported EO expense of Rs 1.1 crore represents exchange difference arising on translation of foreign operations of the above subsidiary compared to nil EO items. PBT after EO fell 19% to Rs 185.6 crore

Provision for tax was expense of Rs 40 crore, compared to Rs 56.8 crore.  Effective tax rate was 21.55% compared to 24.91%.

Minority interest decreased 41.82% to Rs 3.20 crore.  Net profit attributable to owners of the company decreased 14.06% to Rs 142.40 crore. 

Promoters’ stake was 51.53% as of 31 December 2022 compared to 51.91% as of 31 December 2021 . 

The scrip is currently trading at Rs 151