For
quarter ended Dec 2023, standalone Net sales (including other operating income) of Swaraj Engines has increased 0.22% to Rs 279.55 crore compared to quarter ended Dec 2022. Operating profit margin has declined from 11.86% to 11.72%, leading to 0.94% decline in operating profit to Rs 32.76 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 79.96% to 79.30%. Employee cost decreased from 3.82% to 3.62%. Other expenses rose from 4.49% to 5.42%. Other income up 22.02% to Rs 3.38 crore. PBIDT rose 0.84% to Rs 36.14 crore. Provision for interest up 250% to Rs 0.07 crore.
PBDT rose 0.70% to Rs 36.07 crore. Provision for depreciation down 14.16% to Rs 3.94 crore.
Profit before tax grew 2.88% to Rs 32.13 crore. Provision for tax was expense of Rs 8.03 crore, compared to Rs 8 crore. Effective tax rate was 24.99% compared to 25.62%.
Profit after tax rose 3.75% to Rs 24.10 crore.
Promoters’ stake was 52.12% as of 31 December 2023 ,compared to 52.13% as of 31 December 2022 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Swaraj Engines has increased 0.59% to Rs 1,068.28 crore.
Operating profit margin has jumped from 13.03% to 13.11%, leading to 1.18% rise in operating profit to Rs 140.06 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 79.79% to 79.10%. Employee cost decreased from 3.16% to 3.11%. Other expenses rose from 4.04% to 4.66%. Other income up 35.88% to Rs 11.21 crore. PBIDT rose 3.13% to Rs 151.27 crore. Provision for interest up 375% to Rs 0.19 crore.
PBDT rose 3.03% to Rs 151.08 crore. Provision for depreciation down 4.86% to Rs 13.3 crore. Profit before tax grew 3.86% to Rs 137.78 crore. Provision for tax was expense of Rs 35.09 crore, compared to Rs 34.01 crore. Effective tax rate was 25.47% compared to 25.64%.Profit after tax rose 4.10% to Rs 102.69 crore. Promoters’ stake was 52.12% as of 31 December 2023 ,compared to 52.13% as of 31 December 2022 .
Full year results analysis
Net sales (including other operating income) of Swaraj Engines has increased 24.92% to Rs 1,421.82 crore. Operating profit margin has declined from 13.65% to 13.11%, leading to 19.97% rise in operating profit to Rs 186.41 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 78.24% to 79.80%. Employee cost decreased from 3.85% to 3.07%. Other expenses fell from 4.27% to 4.06%. Other income up 23.71% to Rs 11.95 crore. PBIDT rose 20.19% to Rs 198.36 crore. Provision for interest remained nil. Loan funds remained nil. Inventories rose to Rs 69.61 crore as of 31 March 2023 from Rs 62.07 crore as of 31 March 2022. Sundry debtors were higher at Rs 128.09 crore as of 31 March 2023 compared to Rs 103.61 crore as of 31 March 2022. Cash and bank balance rose to Rs 109.07 crore as of 31 March 2023 from Rs 90.94 crore as of 31 March 2022. Investments declined from Rs 36.21 crore as of 31 March 2022 to Rs 26.13 crore as of 31 March 2023.
PBDT rose 20.20% to Rs 198.28 crore. Provision for depreciation rose 2.43% to Rs 18.54 crore. Fixed assets declined from Rs 96.50 crore as of 31 March 2022 to Rs 89.50 crore as of 31 March 2023. Intangible assets increased from Rs 0.05 crore to Rs 0.10 crore.
Profit before tax grew 22.39% to Rs 179.74 crore. Provision for tax was expense of Rs 46.13 crore, compared to Rs 37.39 crore. Effective tax rate was 25.66% compared to 25.46%.
Profit after tax rose 22.05% to Rs 133.61 crore.
Promoters’ stake was 52.13% as of 31 March 2023 ,compared to 52.13% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 132.83 crore for year ended March 2023 from Rs 100.26 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 12.88 crore, compared to Rs 19.24 crore during the year ended March 2022.