Sales of Consumables segment has gone up 5.59% to Rs 166.92 crore (accounting for 74.29% of total sales). Sales of Equipments and Automation segment has gone up 74.35% to Rs 49.22 crore (accounting for 21.91% of total sales). Sales of Flares & Process Equipment Division segment has gone down 31.30% to Rs 8.54 crore (accounting for 3.80% of total sales). Inter-segment sales rose Rs 0.21 crore to Rs 3.14 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped 9.57% to Rs 25.42 crore. PBIT of Consumables segment rose 6.32% to Rs 25.57 crore (accounting for 100.59% of total PBIT). PBIT of Equipments and Automation segment fell 0.41% to Rs 2.42 crore (accounting for 9.52% of total PBIT). PBIT of Flares & Process Equipment Division reported loss of Rs 2.57 crore compared to profit of Rs 1.63 crore.
PBIT margin of Consumables segment rose from 15.21% to 15.32%. PBIT margin of Equipments and Automation segment fell from 8.61% to 4.92%. PBIT margin of Flares & Process Equipment Division segment fell from 13.11% to 30.09%. Overall PBIT margin fell from 14.14% to 11.31%.
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Ador Welding has increased 17.71% to Rs 637.13 crore. Sales of Consumables segment has gone up 14.31% to Rs 488.71 crore (accounting for 76.26% of total sales). Sales of Equipments & Project Engineering segment has gone up 62.99% to Rs 129.45 crore (accounting for 20.20% of total sales). Sales of Flares & Process Equipment Division segment has gone down 34.96% to Rs 22.66 crore (accounting for 3.54% of total sales). Inter-segment sales rose Rs 0.51 crore to Rs 3.69 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 12.81% to Rs 75.91 crore. PBIT of Consumables segment rose 27.67% to Rs 75.11 crore (accounting for 98.95% of total PBIT). PBIT of Equipments & Project Engineering segment rose 41.27% to Rs 6.88 crore (accounting for 9.06% of total PBIT). PBIT of Flares & Process Equipment Division reported loss of Rs 6.08 crore compared to profit of Rs 3.59 crore.
PBIT margin of Consumables segment rose from 13.76% to 15.37%. PBIT margin of Equipments & Project Engineering segment fell from 6.13% to 5.31%. PBIT margin of Flares & Process Equipment Division segment fell from 10.30% to 26.83%. Overall PBIT margin fell from 12.42% to 11.85%.
Operating profit margin has declined from 10.25% to 10.08%, leading to 15.74% rise in operating profit to Rs 64.20 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 65.27% to 63.37%. Purchase of finished goods cost rose from 3.67% to 4.10%. Employee cost increased from 7.46% to 8.32%. Other expenses rose from 13.73% to 14.25%.
Other income up 66.30% to Rs 8.98 crore. PBIDT rose 20.22% to Rs 73.18 crore. Provision for interest up 61.08% to Rs 2.69 crore.
PBDT rose 19.07% to Rs 70.49 crore. Provision for depreciation rose 17.17% to Rs 10.03 crore. Profit before tax grew 19.39% to Rs 60.46 crore. Provision for tax was expense of Rs 15.94 crore, compared to Rs 12.43 crore. Effective tax rate was 26.36% compared to 25.27%.Profit after tax rose 21.14% to Rs 44.52 crore.
Promoters’ stake was 56.90% as of 31 December 2023 ,compared to 56.90% as of 31 December 2022 .