 |
Results
30-Jan-24
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
Indo Count Industries
|
|
Net sales up 8.5% YoY to Rs 713.4 cr in Q3FY2024
|
|
|
|
|
On consolidated basis
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of Indo Count Industries has
increased 8.54% to Rs 713.42 crore.
Operating profit margin has jumped
from 11.16% to 14.60%, leading to 42.04% rise in operating profit to Rs 104.19
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 49.21% to 46.72%. Purchase of finished
goods cost rose from 0.57% to 2.22%. Employee cost decreased from
9.79% to 8.90%. Other expenses rose from 29.33% to 30.41%.
Other income rose 188.03% to Rs
13.71 crore. PBIDT rose 50.94% to Rs 117.9
crore. Provision for interest fell 12.61% to Rs 17.67 crore.
PBDT rose 73.14% to Rs 100.23
crore. Provision for depreciation rose 31.11% to Rs 21.62
crore.
Profit before tax grew 89.88% to Rs
78.61 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 20.55 crore, compared
to Rs 3.69 crore. Effective tax rate was 26.14% compared to 8.91%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 53.96% to Rs 58.06 crore.
Promoters’ stake was 58.74% as of 31
December 2023 ,compared to 58.74% as of 31 December 2022 .
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Indo Count Industries has
increased 11.76% to Rs 2463.81 crore.
Operating profit margin has jumped
from 14.07% to 15.98%, leading to 26.97% rise in operating profit to Rs 393.72
crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 46.73% to 44.57%. Purchase of finished
goods cost fell from 2.27% to 1.23%. Employee cost increased from
8.53% to 8.64%. Other expenses rose from 29.33% to 30.74%.
Other income rose 51.87% to Rs 43.48
crore. PBIDT rose 29.08% to Rs 437.2 crore. Provision for
interest fell 9.22% to Rs 50.2 crore.
PBDT rose 36.55% to Rs 387
crore. Provision for depreciation rose 25.44% to Rs 60.55
crore.
Profit before tax grew 38.83% to Rs
326.45 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 80.47 crore, compared
to Rs 53.08 crore. Effective tax rate was 24.65% compared to 22.57%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 35.11% to Rs 245.98 crore.
Promoters’ stake was 58.74% as of 31
December 2023 ,compared to 58.74% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Indo Count Industries has
increased 0.98% to Rs 3011.55 crore.
Operating profit margin has declined
from 19.26% to 15.08%, leading to 20.90% decline in operating profit to Rs
454.27 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 41.48% to 44.61%. Purchase of finished
goods cost fell from 5.41% to 1.74%. Employee cost increased from
6.23% to 8.70%. Other expenses rose from 28.16% to 30.19%.
PBIDT fell 15.43% to Rs 485.7
crore. Provision for interest rose 31.71% to Rs 62.38
crore. Loan funds declined from Rs 1,319.40 crore as of 31 March
2022 to Rs 876.31 crore as of 31 March 2023. Inventories declined
from Rs 1,068.04 crore as of 31 March 2022 to Rs 894.69 crore as of 31 March
2023. Sundry debtors were lower at Rs 408.89 crore as of 31 March
2023 compared to Rs 494.18 crore as of 31 March 2022. Cash and bank
balance declined from Rs 400.23 crore as of 31 March 2022 to Rs 107.98 crore as
of 31 March 2023. Investments rose to Rs 143.49 crore as of 31 March
2023 from Rs 1.50 crore as of 31 March 2022 .
PBDT fell 19.67% to Rs 423.32
crore. Provision for depreciation rose 58.23% to Rs 64.73
crore. Fixed assets increased to Rs 1,276.18 crore as of 31 March
2023 from Rs 649.07 crore as of 31 March 2022. Intangible assets
increased from Rs 5.81 crore to Rs 17.41 crore.
Profit before tax down 26.22% to Rs
358.59 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 81.81 crore, compared
to Rs 127.43 crore. Effective tax rate was 22.81% compared to
26.22%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 22.82% to Rs 276.78 crore.
Equity capital increased from Rs
39.48 crore as of 31 March 2022 to Rs 39.61 crore as of 31 March
2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 58.74% as of 31
March 2023 ,compared to 58.94% as of 31 March 2022 .
Cash flow from operating activities
has turned positive Rs 767.01 crore for year ended March 2023 from negative Rs
37.12 crore for year ended March 2022. Cash flow used in acquiring
fixed assets during the year ended March 2023 stood at Rs 354.09 crore, compared
to Rs 451.57 crore during the year ended March 2022.
Operational highlights:
Sales
Volume for Q3FY24 stood at 19.5 million meters V/s 14.7 million meters in
Q3FY23, Growth of 33%.
Sales
Volume for 9MFY24 stood at 68.2 million meters V/s 54.3 million meters in
9MFY23, Growth of 26%.
Management Commentary:
Commenting
on the results, Mr. Anil Kumar Jain, Executive Chairman, said, "As a
leading exporter, our strategic focus continues to revolve around the expansion
in both global and domestic markets. We are confident in our ability to evolve
as a strong and credible global supplier, further solidifying our position as a
leader in the Home Textile Bed Linen industry.
Through
our proactive approach, incorporating sustainability and strategic IT measures for
process improvement, alongside a diverse product portfolio spanning multiple geographies,
we have adeptly navigated challenges and maintained consistent growth. Our
established capabilities have played a key role in achieving this success,
underscoring our unwavering commitment to excellence in the industry."
| Indo Count Industries : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 713.42 | 657.29 | 8.54 | 2,463.81 | 2,204.47 | 11.76 | 3,011.55 | 2,982.23 | 0.98 | | OPM (%) | 14.60 | 11.16 | 344 bps | 15.98 | 14.07 | 191 bps | 15.08 | 19.26 | -417 bps | | OP | 104.19 | 73.35 | 42.04 | 393.72 | 310.08 | 26.97 | 454.27 | 574.31 | -20.90 | | Other Inc. | 13.71 | 4.76 | 188.03 | 43.48 | 28.63 | 51.87 | 31.43 | 0 | - | | PBIDT | 117.90 | 78.11 | 50.94 | 437.20 | 338.71 | 29.08 | 485.70 | 574.31 | -15.43 | | Interest | 17.67 | 20.22 | -12.61 | 50.20 | 55.30 | -9.22 | 62.38 | 47.36 | 31.71 | | PBDT | 100.23 | 57.89 | 73.14 | 387.00 | 283.41 | 36.55 | 423.32 | 526.95 | -19.67 | | Depreciation | 21.62 | 16.49 | 31.11 | 60.55 | 48.27 | 25.44 | 64.73 | 40.91 | 58.23 | | PBT | 78.61 | 41.40 | 89.88 | 326.45 | 235.14 | 38.83 | 358.59 | 486.04 | -26.22 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 78.61 | 41.4 | 89.88 | 326.45 | 235.14 | 38.83 | 358.59 | 486.04 | -26.22 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 78.61 | 41.4 | 89.88 | 326.45 | 235.14 | 38.83 | 358.59 | 486.04 | -26.22 | | Taxation | 20.55 | 3.69 | 456.91 | 80.47 | 53.08 | 51.60 | 81.81 | 127.43 | -35.80 | | PAT | 58.06 | 37.71 | 53.96 | 245.98 | 182.06 | 35.11 | 276.78 | 358.61 | -22.82 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 58.06 | 37.71 | 53.96 | 245.98 | 182.06 | 35.11 | 276.78 | 358.61 | -22.82 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 58.06 | 37.71 | 53.96 | 245.98 | 182.06 | 35.11 | 276.78 | 358.61 | -22.82 | | EPS (Rs)* | 2.93 | 1.90 | 53.96 | 12.42 | 9.19 | 35.11 | 13.98 | 18.11 | -22.82 | | | * EPS is on current equity of Rs 39.61 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 |
|
|
|
|
|
Previous News |
Indo Count Industries consolidated net profit rises 628.05% in the March 2021 quarter
(
Results
-
Announcements
17-May-21
15:40
)
|
|
|
Indo Count Industries consolidated net profit declines 48.23% in the June 2020 quarter
(
Results
-
Announcements
18-Aug-20
15:17
)
|
|
|
Board of Indo Count Industries recommends Final Dividend
(
Corporate News
-
17-May-21
16:30
)
|
|
|
Indo Count Industries to pay interim dividend
(
Market Beat
-
Reports
12-Feb-17
12:02
)
|
|
|
Indo Count Industries consolidated net profit rises 53.96% in the December 2023 quarter
(
Results
-
Announcements
30-Jan-24
12:28
)
|
|
|
Indo Count Industries consolidated net profit declines 4.52% in the June 2023 quarter
(
Results
-
Announcements
08-Aug-23
07:34
)
|
|
|
Indo Count Industries to convene board meeting
(
Corporate News
-
24-Jul-18
17:27
)
|
|
|
Board of Indo Count Industries recommends dividend
(
Corporate News
-
13-Feb-17
11:04
)
|
|
|
Indo Count Industries to conduct board meeting
(
Corporate News
-
20-Oct-21
11:57
)
|
|
|
Indo Count Industries standalone net profit rises 122.24% in the June 2015 quarter
(
Results
-
Announcements
03-Aug-15
17:00
)
|
|
|
Indo Count Industries standalone net profit declines 42.76% in the September 2017 quarter
(
Results
-
Announcements
15-Nov-17
16:27
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|