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Results
16-Aug-23
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Analysis
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Hindustan Aeronautics
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Net up 31% thanks largely to higher other income
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Consolidated net sales (including other operating income) of Hindustan Aeronautics for the quarter ended Jun 2023 has increased 8.09% to Rs 3915.35 crore. Operating profit margin has declined from 22.81% to 22.39%, leading to 6.12% rise in operating profit to Rs 876.83 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 31.76% to 26.68%. Purchase of finished goods cost rose from 1.74% to 2.17%. Employee cost increased from 25.96% to 34.54%. Other expenses fell from 19.47% to 15.03%. Other direct service cost fell from 1.87% to 1.15%. Provisions writeoffs cost fell from 11.82% to 8.82%. Other provisions fell from 11.82% to 8.82%. Preoperation capitalised expenses fell from 3.98% to 3.66%. Other income rose 113.91% to Rs 409.94 crore. PBIDT rose 26.41% to Rs 1286.77 crore. Provision for interest fell 91.30% to Rs 0.02 crore. PBDT rose 26.44% to Rs 1286.75 crore. Provision for depreciation fell 3.28% to Rs 201.38 crore. Profit before tax grew 34.08% to Rs 1,085.37 crore. Share of profit/loss was 71.34% lower at Rs 3.66 crore. Provision for tax was expense of Rs 274.94 crore, compared to Rs 202.13 crore. Effective tax rate was 25.25% compared to 24.58%. Minority interest decreased 1,400% to Rs -0.15 crore. Net profit attributable to owners of the company increased 31.30% to Rs 814.24 crore. Promoters’ stake was 71.64% as of 30 June 2023 ,compared to 75.15% as of 30 June 2022 .
| Hindustan Aeronautics : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 3,915.35 | 3,622.46 | 8.09 | 26,927.46 | 24,620.02 | 9.37 | | OPM (%) | 22.39 | 22.81 | -42 bps | 24.80 | 21.97 | 284 bps | | OP | 876.83 | 826.29 | 6.12 | 6,679.15 | 5,408.56 | 23.49 | | Other Inc. | 409.94 | 191.64 | 113.91 | 1,670.12 | 984.93 | 69.57 | | PBIDT | 1,286.77 | 1,017.93 | 26.41 | 8,349.27 | 6,393.49 | 30.59 | | Interest | 0.02 | 0.23 | -91.30 | 57.97 | 58.20 | -0.40 | | PBDT | 1,286.75 | 1,017.70 | 26.44 | 8,291.30 | 6,335.29 | 30.87 | | Depreciation | 201.38 | 208.21 | -3.28 | 1784.67 | 1110.53 | 60.70 | | PBT | 1,085.37 | 809.49 | 34.08 | 6506.63 | 5224.76 | 24.53 | | Share of Profit/(Loss) from Associates | 3.66 | 12.77 | -71.34 | 2.87 | -0.23 | LP | | PBT before EO | 1089.03 | 822.26 | 32.44 | 6509.5 | 5224.53 | 24.59 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1089.03 | 822.26 | 32.44 | 6509.5 | 5224.53 | 24.59 | | Taxation | 274.94 | 202.13 | 36.02 | 681.77 | 144.65 | 371.32 | | PAT | 814.09 | 620.13 | 31.28 | 5827.73 | 5079.88 | 14.72 | | Minority Interest (MI) | -0.15 | -0.01 | -1,400.00 | 0 | -0.16 | - | | Net profit | 814.24 | 620.14 | 31.30 | 5827.73 | 5080.04 | 14.72 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 814.24 | 620.14 | 31.30 | 5827.73 | 5080.04 | 14.72 | | EPS (Rs)* | 24.35 | 18.55 | 31.30 | 174.28 | 151.92 | 14.72 | | | * EPS is on current equity of Rs 334.39 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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