For
the quarter ending March 2023, consolidated Net sales (including other operating income) of Banco Products (India) has increased 20.26% to Rs 609.3 crore compared to quarter ended Mar 2022. Operating profit margin has jumped from 15.74% to 16.13%, leading to 23.21% rise in operating profit to Rs 98.26 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.63% to 52.25%. Employee cost increased from 9.03% to 11.67%. Other expenses rose from 12.97% to 19.22%. PBIDT rose 28.12% to Rs 101.28 crore. Provision for interest rose 160.29% to Rs 7.21 crore. Loan funds rose to Rs 417.57 crore as of 31 March 2023 from Rs 115.21 crore as of 31 March 2022. Inventories rose to Rs 994.89 crore as of 31 March 2023 from Rs 720.49 crore as of 31 March 2022. Sundry debtors were higher at Rs 413.49 crore as of 31 March 2023 compared to Rs 324.25 crore as of 31 March 2022. Cash and bank balance declined from Rs 81.56 crore as of 31 March 2022 to Rs 18.33 crore as of 31 March 2023.
PBDT rose 23.32% to Rs 94.07 crore. Provision for depreciation fell 15.94% to Rs 19.98 crore. Fixed assets increased to Rs 369.00 crore as of 31 March 2023 from Rs 301.39 crore as of 31 March 2022. Intangible assets declined from Rs 10.04 crore to Rs 8.52 crore.
Profit before tax grew 41.10% to Rs 74.09 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 23.06 crore, compared to Rs 12.32 crore. Effective tax rate was 31.12% compared to 23.46%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 26.97% to Rs 51.03 crore. Equity capital stood at Rs 14.30 crore as of 31 March 2023 to Rs 14.30 crore as of 31 March 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 31 March 2023 ,compared to 67.88% as of 31 March 2022 .
Full year results analysis.
Net sales (including other operating income) of Banco Products (India) has increased 19.10% to Rs 2331.82 crore. Operating profit margin has jumped from 13.88% to 15.61%, leading to 33.98% rise in operating profit to Rs 364.08 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 62.26% to 61.06%. Employee cost decreased from 9.38% to 8.98%. Other expenses rose from 15.36% to 15.70%. Other income rose 204.47% to Rs 15.68 crore. PBIDT rose 37.15% to Rs 379.76 crore. Provision for interest rose 139.16% to Rs 12.58 crore. Loan funds rose to Rs 417.57 crore as of 31 March 2023 from Rs 115.21 crore as of 31 March 2022. Inventories rose to Rs 994.89 crore as of 31 March 2023 from Rs 720.49 crore as of 31 March 2022. Sundry debtors were higher at Rs 413.49 crore as of 31 March 2023 compared to Rs 324.25 crore as of 31 March 2022. Cash and bank balance declined from Rs 81.56 crore as of 31 March 2022 to Rs 18.33 crore as of 31 March 2023.
PBDT rose 35.18% to Rs 367.18 crore. Provision for depreciation rose 17.71% to Rs 56.35 crore. Fixed assets increased to Rs 369.00 crore as of 31 March 2023 from Rs 301.39 crore as of 31 March 2022. Intangible assets declined from Rs 10.04 crore to Rs 8.52 crore.
Profit before tax grew 38.91% to Rs 310.83 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 75.25 crore, compared to Rs 71.34 crore. Effective tax rate was 24.21% compared to 31.88%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 54.56% to Rs 235.58 crore.
Equity capital stood at Rs 14.30 crore as of 31 March 2023 to Rs 14.30 crore as of 31 March 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 31 March 2023 ,compared to 67.88% as of 31 March 2022 .
Dividend update
Board recommend Final Dividend of Rs 14
(700%) per Equity Share of Rs 2 each for the financial year ended on
31.03.2023.