Capitaline

Results 31-May-23

Analysis

ITL Industries

Net up 30%, sales up 22%

Consolidated net sales (including other operating income) of ITL Industries for the quarter ended Mar 2023 has increased 21.73% to Rs 40.89 crore. Operating profit margin has declined from 7.59% to 7.17%, leading to 14.90% rise in operating profit to Rs 2.93 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 52.31% to 46.68%. Purchase of finished goods cost rose from 21.72% to 23.14%. Employee cost increased from 9.27% to 9.75%. Other expenses rose from 10.36% to 14.35%. Other income rose 38.89% to Rs 1.5 crore. PBIDT rose 22.04% to Rs 4.43 crore. Provision for interest rose 35.14% to Rs 0.5 crore. PBDT rose 20.55% to Rs 3.93 crore. Provision for depreciation fell 10.53% to Rs 0.17 crore. Profit before tax grew 22.48% to Rs 3.76 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 1.25 crore, compared to Rs 1.06 crore. Effective tax rate was 33.24% compared to 34.53%. Minority interest decreased 46.15% to Rs 0.07 crore. Net profit attributable to owners of the company increased 29.79% to Rs 2.44 crore.

Full year results analysis.

Net sales (including other operating income) of ITL Industries has increased 26.88% to Rs 144.02 crore. Operating profit margin has declined from 8.14% to 7.66%, leading to 19.37% rise in operating profit to Rs 11.03 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 49.89% to 47.53%. Purchase of finished goods cost rose from 22.42% to 24.92%. Employee cost decreased from 11.41% to 10.67%. Other expenses rose from 8.58% to 9.38%. Other income rose 40.68% to Rs 2.49 crore. PBIDT rose 22.80% to Rs 13.52 crore. Provision for interest rose 12.24% to Rs 1.65 crore. PBDT rose 24.42% to Rs 11.87 crore. Provision for depreciation fell 11.72% to Rs 1.28 crore. Profit before tax grew 30.90% to Rs 10.59 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2.82 crore, compared to Rs 2.09 crore. Effective tax rate was 26.63% compared to 25.83%. Minority interest decreased 50% to Rs 0.06 crore. Net profit attributable to owners of the company increased 31.12% to Rs 7.71 crore.

Others

Equity capital stood at Rs 3.20 crore as of 31 March 2023 to Rs 3.20 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 44.98% as of 31 March 2023 ,compared to 44.98% as of 31 March 2022 .

Loan funds declined from Rs 17.76 crore as of 31 March 2022 to Rs 15.69 crore as of 31 March 2023. Inventories rose to Rs 38.58 crore as of 31 March 2023 from Rs 38.42 crore as of 31 March 2022. Sundry debtors were higher at Rs 22.24 crore as of 31 March 2023 compared to Rs 21.68 crore as of 31 March 2022. Cash and bank balance rose to Rs 1.70 crore as of 31 March 2023 from Rs 1.52 crore as of 31 March 2022. Investments rose to Rs 14.38 crore as of 31 March 2023 from Rs 11.29 crore as of 31 March 2022 . Fixed assets declined from Rs 15.05 crore as of 31 March 2022 to Rs 14.49 crore as of 31 March 2023. Intangible assets declined from Rs 0.40 crore to Rs 0.37 crore.

ITL Industries : Consolidated Results

	Quarter ended			Year ended
Particulars	202303	202203	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	40.89	33.59	21.73	144.02	113.51	26.88
OPM (%)	7.17	7.59	-43 bps	7.66	8.14	-48 bps
OP	2.93	2.55	14.90	11.03	9.24	19.37
Other Inc.	1.50	1.08	38.89	2.49	1.77	40.68
PBIDT	4.43	3.63	22.04	13.52	11.01	22.80
Interest	0.50	0.37	35.14	1.65	1.47	12.24
PBDT	3.93	3.26	20.55	11.87	9.54	24.42
Depreciation	0.17	0.19	-10.53	1.28	1.45	-11.72
PBT	3.76	3.07	22.48	10.59	8.09	30.90
Share of Profit/(Loss) from Associates	0	0	-	0	0	-
PBT before EO	3.76	3.07	22.48	10.59	8.09	30.90
EO Income	0	0	-	0	0	-
PBT after EO	3.76	3.07	22.48	10.59	8.09	30.90
Taxation	1.25	1.06	17.92	2.82	2.09	34.93
PAT	2.51	2.01	24.88	7.77	6	29.50
Minority Interest (MI)	0.07	0.13	-46.15	0.06	0.12	-50.00
Net profit	2.44	1.88	29.79	7.71	5.88	31.12
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	2.44	1.88	29.79	7.71	5.88	31.12
EPS (Rs)*	7.61	5.87	29.79	24.06	18.35	31.12

* EPS is on current equity of Rs 3.20 crore, Face value of Rs 10, 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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