For
the quarter ending Dec 2022, consolidated Net sales (including other operating income) of Banco Products (India) has increased 26.52% to Rs 509.08 crore compared to quarter ended Dec 2021. Operating profit margin has jumped from 9.86% to 27.51%, leading to 252.91% rise in operating profit to Rs 140.07 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 66.94% to 55.86%. Employee cost decreased from 9.25% to 8.86%. Other expenses fell from 15.94% to 12.34%. PBIDT rose 281.22% to Rs 141.28 crore. Provision for interest rose 280.30% to Rs 2.51 crore.
PBDT rose 281.24% to Rs 138.77 crore. Provision for depreciation rose 59.41% to Rs 12.96 crore.
Profit before tax grew 345.03% to Rs 125.81 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 27.58 crore, compared to Rs 11.17 crore. Effective tax rate was 21.92% compared to 39.51%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 474.44% to Rs 98.23 crore. Promoters’ stake was 67.88% as of 31 December 2022 ,compared to 67.88% as of 31 December 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Banco Products (India) has increased 18.51% to Rs 1722.52 crore.
Operating profit margin has jumped from 13.22% to 15.43%, leading to 38.37% rise in operating profit to Rs 265.82 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.21% to 63.66%. Employee cost decreased from 9.51% to 8.19%. Other expenses fell from 16.43% to 14.66%. Other income rose 120.94% to Rs 12.66 crore. PBIDT rose 40.76% to Rs 278.48 crore. Provision for interest rose 115.66% to Rs 5.37 crore.
PBDT rose 39.81% to Rs 273.11 crore. Provision for depreciation rose 50.91% to Rs 36.37 crore.
Profit before tax grew 38.24% to Rs 236.74 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 52.19 crore, compared to Rs 59.02 crore. Effective tax rate was 22.05% compared to 34.46%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 64.44% to Rs 184.55 crore.
Promoters’ stake was 67.88% as of 31 December 2022 ,compared to 67.88% as of 31 December 2021 .
Full year results analysis.
Net sales (including other operating income) of Banco Products (India) has increased 27.75% to Rs 1957.85 crore. Operating profit margin has jumped from 11.62% to 13.88%, leading to 52.57% rise in operating profit to Rs 271.74 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 58.88% to 62.26%. Employee cost decreased from 11.67% to 9.38%. Other expenses fell from 18.24% to 15.36%. Other income fell 42.97% to Rs 5.15 crore. PBIDT rose 47.96% to Rs 276.89 crore. Provision for interest rose 45.30% to Rs 5.26 crore. Loan funds rose to Rs 115.21 crore as of 31 March 2022 from Rs 14.23 crore as of 31 March 2021. Inventories rose to Rs 720.49 crore as of 31 March 2022 from Rs 563.91 crore as of 31 March 2021. Sundry debtors were higher at Rs 324.25 crore as of 31 March 2022 compared to Rs 270.29 crore as of 31 March 2021. Cash and bank balance declined from Rs 122.62 crore as of 31 March 2021 to Rs 81.56 crore as of 31 March 2022. Investments declined from Rs 0.81 crore as of 31 March 2021 to Rs 0.51 crore as of 31 March 2022.
PBDT rose 48.01% to Rs 271.63 crore. Provision for depreciation rose 42.13% to Rs 47.87 crore. Fixed assets increased to Rs 301.39 crore as of 31 March 2022 from Rs 178.42 crore as of 31 March 2021. Intangible assets declined from Rs 12.39 crore to Rs 10.04 crore.
Profit before tax grew 49.33% to Rs 223.76 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 71.34 crore, compared to Rs 36.11 crore. Effective tax rate was 31.88% compared to 24.10%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 34.02% to Rs 152.42 crore.
Equity capital stood at Rs 14.30 crore as of 31 March 2022 to Rs 14.30 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 31 March 2022 ,compared to 67.88% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 57.24 crore for year ended March 2022 from Rs 156.80 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 75.00 crore, compared to Rs 32.02 crore during the year ended March 2021.
Dividend update
Board has declared an Interim Dividend of
Rs 8 (400%) per Equity Share of Rs 2 each for the financial year ending 31st
March, 2023. The Company has fixed 25 February, 2023, as the record date for
the purpose of payment of Interim Dividend. The Interim Dividend declared will
be paid on or after 9th March, 2023.