For
the quarter ending June 2023, consolidated Net sales (including other operating income) of Banco Products (India) has increased 27.98% to Rs 749.36 crore compared to quarter ended June 2022. Operating profit margin has jumped from 11.38% to 12.91%, leading to 45.23% rise in operating profit to Rs 96.74 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 69.97% to 58.43%. Employee cost increased from 7.28% to 9.90%. Other expenses rose from 13.34% to 17.00%. Other income rose 1,159.23% to Rs 16.37 crore. PBIDT rose 66.56% to Rs 113.11 crore. Provision for interest rose 225.47% to Rs 5.24 crore.
PBDT rose 62.70% to Rs 107.87 crore. Provision for depreciation rose 31.45% to Rs 15.34 crore.
Profit before tax grew 69.38% to Rs 92.53 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 23.72 crore, compared to Rs 20.04 crore. Effective tax rate was 25.63% compared to 36.68%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 98.93% to Rs 68.81 crore. Promoters’ stake was 67.88% as of 30 June 2023 ,compared to 67.88% as of 30 June 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 .
Cash flow from operating activities has turned negative Rs 41.47 crore for year ended March 2023 from positive Rs 57.24 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 125.45 crore, compared to Rs 75.00 crore during the year ended March 2022.
| Banco Products (India) : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 749.36 | 585.52 | 27.98 | 2,331.82 | 1,957.85 | 19.10 | | OPM (%) | 12.91 | 11.38 | 153 bps | 15.61 | 13.88 | 173 bps | | OP | 96.74 | 66.61 | 45.23 | 364.08 | 271.74 | 33.98 | | Other Inc. | 16.37 | 1.30 | 1,159.23 | 15.68 | 5.15 | 204.47 | | PBIDT | 113.11 | 67.91 | 66.56 | 379.76 | 276.89 | 37.15 | | Interest | 5.24 | 1.61 | 225.47 | 12.58 | 5.26 | 139.16 | | PBDT | 107.87 | 66.30 | 62.70 | 367.18 | 271.63 | 35.18 | | Depreciation | 15.34 | 11.67 | 31.45 | 56.35 | 47.87 | 17.71 | | PBT | 92.53 | 54.63 | 69.38 | 310.83 | 223.76 | 38.91 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 92.53 | 54.63 | 69.38 | 310.83 | 223.76 | 38.91 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 92.53 | 54.63 | 69.38 | 310.83 | 223.76 | 38.91 | | Taxation | 23.72 | 20.04 | 18.36 | 75.25 | 71.34 | 5.48 | | PAT | 68.81 | 34.59 | 98.93 | 235.58 | 152.42 | 54.56 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 68.81 | 34.59 | 98.93 | 235.58 | 152.42 | 54.56 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 68.81 | 34.59 | 98.93 | 235.58 | 152.42 | 54.56 | | EPS (Rs)* | 9.62 | 4.84 | 98.93 | 32.94 | 21.31 | 54.56 | | | * EPS is on current equity of Rs 14.30 crore, Face value of Rs 2, 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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