For
the quarter ending Sept 2023, consolidated Net sales (including other operating income) of Banco Products (India) has increased 15.39% to Rs 724.56 crore compared to quarter ended Sept 2022. Operating profit margin has jumped from 9.42% to 16.90%, leading to 107.07% rise in operating profit to Rs 122.46 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.14% to 49.39%. Employee cost increased from 8.54% to 10.81%. Other expenses rose from 18.25% to 19.78%. Other income fell 69.66% to Rs 3.08 crore. PBIDT rose 81.18% to Rs 125.54 crore. Provision for interest rose 364.80% to Rs 5.81 crore. Loan funds rose to Rs 399.17 crore as of 30 September 2023 from Rs 358.66 crore as of 30 September 2022. Inventories declined from Rs 890.43 crore as of 30 September 2022 to Rs 762.76 crore as of 30 September 2023. Sundry debtors were higher at Rs 506.51 crore as of 30 September 2023 compared to Rs 453.22 crore as of 30 September 2022. Cash and bank balance rose to Rs 207.65 crore as of 30 September 2023 from Rs 151.46 crore as of 30 September 2022.
PBDT rose 75.97% to Rs 119.73 crore. Provision for depreciation rose 33.39% to Rs 15.66 crore. Fixed assets increased to Rs 368.40 crore as of 30 September 2023 from Rs 306.93 crore as of 30 September 2022. Intangible assets declined from Rs 8.56 crore to Rs 6.33 crore.
Profit before tax grew 84.85% to Rs 104.07 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 37.96 crore, compared to Rs 4.57 crore. Effective tax rate was 36.48% compared to 8.12%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 27.80% to Rs 66.11 crore. Equity capital stood at Rs 14.30 crore as of 30 September 2023 to Rs 14.30 crore as of 30 September 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 30 September 2023 ,compared to 67.88% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Banco Products (India) has increased 21.47% to Rs 1473.92 crore.
Operating profit margin has jumped from 10.36% to 14.87%, leading to 74.31% rise in operating profit to Rs 219.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 67.17% to 54.08%. Employee cost increased from 7.88% to 10.34%. Other expenses rose from 15.70% to 18.33%. Other income rose 69.87% to Rs 19.45 crore. PBIDT rose 73.94% to Rs 238.65 crore. Provision for interest rose 286.36% to Rs 11.05 crore. Loan funds rose to Rs 399.17 crore as of 30 September 2023 from Rs 358.66 crore as of 30 September 2022. Inventories declined from Rs 890.43 crore as of 30 September 2022 to Rs 762.76 crore as of 30 September 2023. Sundry debtors were higher at Rs 506.51 crore as of 30 September 2023 compared to Rs 453.22 crore as of 30 September 2022. Cash and bank balance rose to Rs 207.65 crore as of 30 September 2023 from Rs 151.46 crore as of 30 September 2022.
PBDT rose 69.42% to Rs 227.6 crore. Provision for depreciation rose 32.42% to Rs 31 crore. Fixed assets increased to Rs 368.40 crore as of 30 September 2023 from Rs 306.93 crore as of 30 September 2022. Intangible assets declined from Rs 8.56 crore to Rs 6.33 crore.
Profit before tax grew 77.23% to Rs 196.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 61.68 crore, compared to Rs 24.61 crore. Effective tax rate was 31.37% compared to 22.19%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 56.30% to Rs 134.92 crore.
Equity capital stood at Rs 14.30 crore as of 30 September 2023 to Rs 14.30 crore as of 30 September 2022. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 30 September 2023 ,compared to 67.88% as of 30 September 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 to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 724.56 | 627.92 | 15.39 | 1,473.92 | 1,213.44 | 21.47 | 2,331.82 | 1,957.85 | 19.10 | | OPM (%) | 16.90 | 9.42 | 748 bps | 14.87 | 10.36 | 451 bps | 15.61 | 13.88 | 173 bps | | OP | 122.46 | 59.14 | 107.07 | 219.20 | 125.75 | 74.31 | 364.08 | 271.74 | 33.98 | | Other Inc. | 3.08 | 10.15 | -69.66 | 19.45 | 11.45 | 69.87 | 15.68 | 5.15 | 204.47 | | PBIDT | 125.54 | 69.29 | 81.18 | 238.65 | 137.20 | 73.94 | 379.76 | 276.89 | 37.15 | | Interest | 5.81 | 1.25 | 364.80 | 11.05 | 2.86 | 286.36 | 12.58 | 5.26 | 139.16 | | PBDT | 119.73 | 68.04 | 75.97 | 227.60 | 134.34 | 69.42 | 367.18 | 271.63 | 35.18 | | Depreciation | 15.66 | 11.74 | 33.39 | 31 | 23.41 | 32.42 | 56.35 | 47.87 | 17.71 | | PBT | 104.07 | 56.30 | 84.85 | 196.6 | 110.93 | 77.23 | 310.83 | 223.76 | 38.91 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 104.07 | 56.3 | 84.85 | 196.6 | 110.93 | 77.23 | 310.83 | 223.76 | 38.91 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 104.07 | 56.3 | 84.85 | 196.6 | 110.93 | 77.23 | 310.83 | 223.76 | 38.91 | | Taxation | 37.96 | 4.57 | 730.63 | 61.68 | 24.61 | 150.63 | 75.25 | 71.34 | 5.48 | | PAT | 66.11 | 51.73 | 27.80 | 134.92 | 86.32 | 56.30 | 235.58 | 152.42 | 54.56 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 66.11 | 51.73 | 27.80 | 134.92 | 86.32 | 56.30 | 235.58 | 152.42 | 54.56 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 66.11 | 51.73 | 27.80 | 134.92 | 86.32 | 56.30 | 235.58 | 152.42 | 54.56 | | EPS (Rs)* | 9.24 | 7.23 | 27.80 | 18.87 | 12.07 | 56.30 | 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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