For
the quarter ended sept 2023, consolidated Net sales (including other operating income) of Sona BLW Precision Forgings has increased 20.61% to Rs 787.47 crore compared to quarter ended Sept 2022. Operating profit margin has jumped from 24.70% to 27.94%, leading to 36.44% rise in operating profit to Rs 219.99 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.22% to 45.88%. Employee cost increased from 6.77% to 6.89%. Other expenses fell from 21.27% to 19.68%. Other income rose 28.96% to Rs 9.44 crore. PBIDT rose 36.11% to Rs 229.43 crore. Provision for interest rose 38.89% to Rs 6 crore. Loan funds rose to Rs 386.22 crore as of 30 September 2023 from Rs 255.38 crore as of 30 September 2022. Inventories declined from Rs 366.91 crore as of 30 September 2022 to Rs 337.96 crore as of 30 September 2023. Sundry debtors were higher at Rs 676.02 crore as of 30 September 2023 compared to Rs 539.24 crore as of 30 September 2022. Cash and bank balance rose to Rs 192.39 crore as of 30 September 2023 from Rs 77.51 crore as of 30 September 2022. Investments declined from Rs 127.32 crore as of 30 September 2022 to Rs 55.92 crore as of 30 September 2023.
PBDT rose 36.04% to Rs 223.43 crore. Provision for depreciation rose 24.44% to Rs 53.41 crore. Fixed assets increased to Rs 1,710.37 crore as of 30 September 2023 from Rs 937.36 crore as of 30 September 2022. Intangible assets declined from Rs 656.14 crore to Rs 350.22 crore.
Profit before tax grew 40.14% to Rs 170.02 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 40.08 crore, compared to Rs 28.77 crore. Effective tax rate was 24.42% compared to 23.71%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 33.82% to Rs 123.85 crore. Equity capital increased from Rs 584.35 crore as of 30 September 2022 to Rs 585.42 crore as of 30 September 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 29.76% as of 30 September 2023 ,compared to 53.59% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 22.77% to Rs 1518.85 crore.
Operating profit margin has jumped from 24.15% to 27.82%, leading to 41.43% rise in operating profit to Rs 422.59 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 46.59% to 44.86%. Employee cost decreased from 7.04% to 6.77%. Other expenses fell from 22.19% to 20.90%. Other income rose 17.13% to Rs 15.59 crore. PBIDT rose 40.40% to Rs 438.18 crore. Provision for interest rose 57.28% to Rs 11.34 crore. Loan funds rose to Rs 386.22 crore as of 30 September 2023 from Rs 255.38 crore as of 30 September 2022. Inventories declined from Rs 366.91 crore as of 30 September 2022 to Rs 337.96 crore as of 30 September 2023. Sundry debtors were higher at Rs 676.02 crore as of 30 September 2023 compared to Rs 539.24 crore as of 30 September 2022. Cash and bank balance rose to Rs 192.39 crore as of 30 September 2023 from Rs 77.51 crore as of 30 September 2022. Investments declined from Rs 127.32 crore as of 30 September 2022 to Rs 55.92 crore as of 30 September 2023.
PBDT rose 40% to Rs 426.84 crore. Provision for depreciation rose 25.97% to Rs 104.47 crore. Fixed assets increased to Rs 1,710.37 crore as of 30 September 2023 from Rs 937.36 crore as of 30 September 2022. Intangible assets declined from Rs 656.14 crore to Rs 350.22 crore.
Profit before tax grew 45.24% to Rs 322.37 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 77.55 crore, compared to Rs 53.57 crore. Effective tax rate was 24.73% compared to 24.13%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 40.08% to Rs 235.88 crore.
Equity capital increased from Rs 584.35 crore as of 30 September 2022 to Rs 585.42 crore as of 30 September 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 29.76% as of 30 September 2023 ,compared to 53.59% as of 30 September 2022 .
Cash flow from operating activities increased to Rs 300.23 crore for YTD ended September 2023 from Rs 230.72 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 140.90 crore, compared to Rs 165.82 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 25.85% to Rs 2655.01 crore. Operating profit margin has declined from 25.51% to 25.43%, leading to 25.48% rise in operating profit to Rs 675.24 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.94% to 45.11%. Employee cost decreased from 7.84% to 6.90%. Other expenses rose from 21.23% to 22.16%. Other income fell 21.52% to Rs 32.17 crore. PBIDT rose 22.15% to Rs 707.41 crore. Provision for interest fell 7.28% to Rs 16.93 crore. Loan funds rose to Rs 295.19 crore as of 31 March 2023 from Rs 151.15 crore as of 31 March 2022. Inventories declined from Rs 363.38 crore as of 31 March 2022 to Rs 322.94 crore as of 31 March 2023. Sundry debtors were higher at Rs 608.85 crore as of 31 March 2023 compared to Rs 445.19 crore as of 31 March 2022. Cash and bank balance declined from Rs 77.25 crore as of 31 March 2022 to Rs 69.84 crore as of 31 March 2023. Investments rose to Rs 232.57 crore as of 31 March 2023 from Rs 6.53 crore as of 31 March 2022 .
PBDT rose 23.11% to Rs 690.48 crore. Provision for depreciation rose 25.38% to Rs 178 crore. Fixed assets increased to Rs 1,502.94 crore as of 31 March 2023 from Rs 860.19 crore as of 31 March 2022. Intangible assets declined from Rs 671.32 crore to Rs 175.81 crore.
Profit before tax grew 22.34% to Rs 512.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 113.81 crore, compared to Rs 70.63 crore. Effective tax rate was 22.35% compared to 16.34%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 9.34% to Rs 395.30 crore.
Equity capital increased from Rs 584.35 crore as of 31 March 2022 to Rs 585.41 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 33.00% as of 31 March 2023 ,compared to 67.18% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 533.29 crore for year ended March 2023 from Rs 444.58 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 335.24 crore, compared to Rs 347.21 crore during the year ended March 2022.
Other Highlights
Board approved Investments in captive solar
power plant, through incorporation of one or more special purpose vehicle (SPV),
as may be deemed appropriate. The SPV will be funded partly by equity and
partly by debt capital. The Company will Invest Rs 75 million approx. for
acquiring 26% in the form of the equity share capital of the SPV and remaining
74% of the equity share capital will be acquired by the Clean Max Enviro Energy
Solutions.
In Q2 FY24, net order book increased to Rs
22,100 crore. EVs programs contribute 78% to the net order book.