Standalone net sales (including other operating income) of Shanthi Gears for the quarter ended Mar 2023 has increased 19.09% to Rs 123.40 crore. Operating profit margin has jumped from 18.24% to 21.60%, leading to 41.01% rise in operating profit to Rs 26.65 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 53.61% to 46.98%. Employee cost increased from 13.51% to 14.56%. Other expenses rose from 14.74% to 16.52%. Other income up 20.87% to Rs 2.78 crore. PBIDT rose 38.82% to Rs 29.43 crore. Provision for interest remained nil. PBDT rose 38.82% to Rs 29.43 crore. Provision for depreciation rose 13.39% to Rs 2.88 crore. Profit before tax grew 42.28% to Rs 26.55 crore. Provision for tax was expense of Rs 7.08 crore, compared to Rs 6.44 crore. Effective tax rate was 26.67% compared to 34.51%. Profit after tax rose 59.33% to Rs 19.47 crore. Full year results analysis
Net sales (including other operating income) of Shanthi Gears has increased 32.21% to Rs 445.65 crore. Operating profit margin has jumped from 17.82% to 20.16%, leading to 49.59% rise in operating profit to Rs 89.83 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.75% to 48.07%. Employee cost decreased from 17.11% to 15.97%. Other expenses fell from 16.09% to 15.79%. Other income up 24.20% to Rs 11.24 crore. PBIDT rose 46.27% to Rs 101.07 crore. Provision for interest remained nil. Loan funds remained nil. Inventories rose to Rs 66.60 crore as of 31 March 2023 from Rs 64.13 crore as of 31 March 2022. Sundry debtors were lower at Rs 68.12 crore as of 31 March 2023 compared to Rs 72.27 crore as of 31 March 2022. Cash and bank balance rose to Rs 90.08 crore as of 31 March 2023 from Rs 67.36 crore as of 31 March 2022. Investments rose to Rs 57.31 crore as of 31 March 2023 from Rs 50.13 crore as of 31 March 2022. PBDT rose 46.27% to Rs 101.07 crore. Provision for depreciation rose 4.92% to Rs 10.88 crore. Fixed assets increased to Rs 72.12 crore as of 31 March 2023 from Rs 68.93 crore as of 31 March 2022. Intangible assets declined from Rs 0.22 crore to Rs 0.15 crore. Profit before tax grew 53.57% to Rs 90.19 crore. Provision for tax was expense of Rs 23.14 crore, compared to Rs 16.26 crore. Effective tax rate was 25.66% compared to 27.69%. Profit after tax rose 57.88% to Rs 67.05 crore. Others The Board of Directors has recommended a final dividend of Rs.2/- (Rupees Two only) per
equity share of Rupee 1/- each (ISIN INE631A01022) for the financial year ended 31%t March,
2023 as a special dividend to commensurate the completion of 50" year of Shanthi Gears
Limited. Together with the interim dividend of Rs.3/- per share, paid on 14t February, 2023,
the total dividend for the financial year 2022-23 works out to Rs.5/- (Rupees Five only) per
share. The said final dividend, if approved by the Members at the ensuing AGM, will be paid
within 30 days from the date of the AGM (i.e., on or before 21 August, 2023). Equity capital stood at Rs 7.67 crore as of 31 March 2023 to Rs 7.67 crore as of 31 March 2022. Per share face Value remained same at Rs 1.00. Promoters’ stake was 70.47% as of 31 March 2023 ,compared to 70.47% as of 31 March 2022 . Loan funds remained nil. Inventories rose to Rs 66.60 crore as of 31 March 2023 from Rs 64.13 crore as of 31 March 2022. Sundry debtors were lower at Rs 68.12 crore as of 31 March 2023 compared to Rs 72.27 crore as of 31 March 2022. Cash and bank balance rose to Rs 90.08 crore as of 31 March 2023 from Rs 67.36 crore as of 31 March 2022. Investments rose to Rs 57.31 crore as of 31 March 2023 from Rs 50.13 crore as of 31 March 2022 . Fixed assets increased to Rs 72.12 crore as of 31 March 2023 from Rs 68.93 crore as of 31 March 2022. Intangible assets declined from Rs 0.22 crore to Rs 0.15 crore. Cash flow from operating activities increased to Rs 62.95 crore for year ended March 2023 from Rs 35.01 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 15.27 crore, compared to Rs 5.66 crore during the year ended March 2022.
| Shanthi Gears : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202303 | 202203 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 123.40 | 103.62 | 19.09 | 445.65 | 337.07 | 32.21 | | OPM (%) | 21.60 | 18.24 | 336 bps | 20.16 | 17.82 | 234 bps | | OP | 26.65 | 18.90 | 41.01 | 89.83 | 60.05 | 49.59 | | Other Inc. | 2.78 | 2.30 | 20.87 | 11.24 | 9.05 | 24.20 | | PBIDT | 29.43 | 21.20 | 38.82 | 101.07 | 69.10 | 46.27 | | Interest | 0 | 0 | - | 0 | 0 | - | | PBDT | 29.43 | 21.20 | 38.82 | 101.07 | 69.10 | 46.27 | | Depreciation | 2.88 | 2.54 | 13.39 | 10.88 | 10.37 | 4.92 | | PBT | 26.55 | 18.66 | 42.28 | 90.19 | 58.73 | 53.57 | | PBT before EO | 26.55 | 18.66 | 42.28 | 90.19 | 58.73 | 53.57 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 26.55 | 18.66 | 42.28 | 90.19 | 58.73 | 53.57 | | Taxation | 7.08 | 6.44 | 9.94 | 23.14 | 16.26 | 42.31 | | PAT | 19.47 | 12.22 | 59.33 | 67.05 | 42.47 | 57.88 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 19.47 | 12.22 | 59.33 | 67.05 | 42.47 | 57.88 | | EPS (Rs)* | 2.54 | 1.59 | 59.33 | 8.74 | 5.54 | 57.88 | | | * EPS is on current equity of Rs 7.67 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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