On consolidated basis
Quarter ended December 2023 compared
with Quarter ended December 2022.
Net sales (including other operating income) of Birla Corporation has increased
14.68% to Rs 2312 crore. Sales of Cement segment has gone up 15.93%
to Rs 2,232.55 crore (accounting for 96.50% of total sales). Sales
of Jute segment has gone down 11.94% to Rs 79.58 crore (accounting for 3.44% of
total sales). Sales of Others segment fell 43.72% to Rs 1.30 crore
(accounting for 0.06% of total sales). Inter-segment sales came down
from Rs 2.42 crore to Rs 1.43 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 607.73% to Rs 258.18
crore. PBIT of Cement segment rose 738.62% to Rs 258.38 crore
(accounting for 100.08% of total PBIT). PBIT of Jute segment fell
93.98% to Rs 0.37 crore (accounting for 0.14% of total PBIT). PBIT
of Others segment fell 18.75% to Rs -0.57 crore (accounting for -0.22% of total
PBIT).
PBIT margin of Cement segment rose
from 1.60% to 11.57%. PBIT margin of Jute segment fell from 6.81% to
0.46%. PBIT margin of Others segment fell from negative 20.78% to
negative 43.85%. Overall PBIT margin rose from 1.81% to
11.16%.
Operating profit margin has jumped
from 7.16% to 16.37%, leading to 162.10% rise in operating profit to Rs 378.50
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.98% to 15.12%. Purchase of finished
goods cost rose from 0.13% to 0.20%. Employee cost decreased from
6.25% to 6.03%. Other expenses fell from 71.81% to 62.50%.
Power and Oil fuel cost fell from 27.25% to 19.63%.
Freight charges rose from 23.31% to 23.76%.
Other income rose 106.72% to Rs
16.31 crore. PBIDT rose 159.23% to Rs 394.81
crore. Provision for interest rose 11.04% to Rs 96.52
crore.
PBDT rose 356.24% to Rs 298.29
crore. Provision for depreciation rose 11.52% to Rs 144.82
crore.
Profit before tax reported profit of
Rs 153.47 crore compared to loss of Rs 64.48 crore. Share of
profit/loss were nil in both the periods. Provision for tax was
debit of Rs 44.33 crore, compared to credit of Rs 14.57
crore. Effective tax rate was 28.89% compared to 22.60%.
Minority interest was nil in both
the periods.
Promoters’ stake was 62.90% as of 31
December 2023 ,compared to 62.90% as of 31 December 2022 .
For year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Birla Corporation has increased
12.65% to Rs 7006.29 crore. Sales of Cement segment has gone up
13.82% to Rs 6,716.99 crore (accounting for 95.80% of total
sales). Sales of Jute segment has gone down 8.90% to Rs 289.30 crore
(accounting for 4.13% of total sales). Sales of Others segment rose 0.20%
to Rs 5.11 crore (accounting for 0.07% of total
sales). Inter-segment sales rose Rs 4.13 crore to Rs 5.11
crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 236.03% to Rs 604.68
crore. PBIT of Cement segment rose 269.57% to Rs 597.97 crore
(accounting for 98.89% of total PBIT). PBIT of Jute segment fell
57.99% to Rs 8.39 crore (accounting for 1.39% of total PBIT). PBIT
of Others segment rose 7.69% to Rs -1.68 crore (accounting for -0.28% of total
PBIT).
PBIT margin of Cement segment rose
from 2.74% to 8.90%. PBIT margin of Jute segment fell from 6.29% to
2.90%. PBIT margin of Others segment rose from negative 35.69% to
negative 32.88%. Overall PBIT margin rose from 2.89% to
8.62%.
Operating profit margin has jumped
from 8% to 13.78%, leading to 93.94% rise in operating profit to Rs 965.19
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 14.09% to 15.54%. Purchase of finished
goods cost fell from 0.25% to 0.21%. Employee cost increased from
6.03% to 6.07%. Other expenses fell from 71.97% to 64.33%.
Power and Oil fuel cost fell from 27.72% to 20.99%.
Freight charges rose from 23.28% to 23.78%.
Other income fell 6.35% to Rs 59.88
crore. PBIDT rose 82.52% to Rs 1025.07 crore. Provision
for interest rose 15.74% to Rs 289.34 crore.
PBDT rose 136.10% to Rs 735.73
crore. Provision for depreciation rose 15.91% to Rs 428.61
crore.
Profit before tax reported profit of
Rs 307.12 crore compared to loss of Rs 58.17 crore. Share of profit/loss
were nil in both the periods. Extraordinary items were increased to
Rs -0.25 crore. Provision for tax was debit of Rs 79.65 crore,
compared to credit of Rs 25.37 crore. Effective tax rate was 25.96%
compared to 36.34%.
Minority interest was nil in both
the periods.
Promoters’ stake was 62.90% as of 31
December 2023 ,compared to 62.90% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Birla Corporation has increased
16.37% to Rs 8682.27 crore. Sales of Cement segment has gone up
16.88% to Rs 8,244.89 crore (accounting for 94.88% of total
sales). Sales of Jute segment has gone up 7.12% to Rs 436.61 crore
(accounting for 5.02% of total sales). Sales of Others segment rose
0.13% to Rs 7.86 crore (accounting for 0.09% of total
sales). Inter-segment sales came down from Rs 8.29 crore to Rs 7.09
crore.
Profit before interest, tax and
other unallocable items (PBIT) has slumped 51.09% to Rs 372.50
crore. PBIT of Cement segment fell 51.54% to Rs 349.12 crore
(accounting for 93.72% of total PBIT). PBIT of Jute segment fell
41.61% to Rs 25.79 crore (accounting for 6.92% of total PBIT). PBIT
of Others segment rose 19.40% to Rs -2.41 crore (accounting for -0.65% of total
PBIT).
PBIT margin of Cement segment fell
from 10.21% to 4.23%. PBIT margin of Jute segment fell from 10.84%
to 5.91%. PBIT margin of Others segment rose from negative 38.09% to
negative 30.66%. Overall PBIT margin fell from 10.20% to
4.29%.
Operating profit margin has declined
from 14.88% to 8.89%, leading to 30.45% decline in operating profit to Rs
772.01 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 14.01% to 13.60%. Purchase of finished
goods cost fell from 0.35% to 0.22%. Employee cost decreased from
5.99% to 5.92%. Other expenses rose from 64.82% to 71.50%.
Power and Oil fuel cost rose from 21.71% to 26.95%.
Freight charges rose from 23.38% to 23.93%.
Other income rose 14.45% to Rs
113.05 crore. PBIDT fell 26.78% to Rs 885.06
crore. Provision for interest rose 39.59% to Rs 338.72
crore. Loan funds rose to Rs 4,462.27 crore as of 31 March 2023 from
Rs 4,325.94 crore as of 31 March 2022. Inventories rose to Rs
1,061.60 crore as of 31 March 2023 from Rs 819.99 crore as of 31 March
2022. Sundry debtors were higher at Rs 323.34 crore as of 31 March
2023 compared to Rs 302.81 crore as of 31 March 2022. Cash and bank
balance rose to Rs 218.29 crore as of 31 March 2023 from Rs 137.98 crore as of
31 March 2022. Investments declined from Rs 1,008.94 crore as of 31
March 2022 to Rs 867.23 crore as of 31 March 2023.
PBDT fell 43.45% to Rs 546.34
crore. Provision for depreciation rose 28.45% to Rs 509.88
crore. Fixed assets increased to Rs 10,200.49 crore as of 31 March 2023
from Rs 10,127.92 crore as of 31 March 2022. Intangible assets stood
at Rs 0.03 crore.
Profit before tax down 93.59% to Rs
36.46 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 2.61 crore, compared to
Rs 139.16 crore. Effective tax rate was 6.05% compared to 25.88%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 89.84% to Rs 40.50 crore.
Equity capital stood at Rs 77.01
crore as of 31 March 2023 to Rs 77.01 crore as of 31 March 2022. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 62.90% as of 31
March 2023 ,compared to 62.90% as of 31 March 2022 .
Cash flow from operating activities
decreased to Rs 805.46 crore for year ended March 2023 from Rs 1,039.15 crore
for year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 631.01 crore, compared to Rs
780.60 crore during the year ended March 2022.
Operational highlights
Cement segment
Volumes
in Q3FY2024 stood at 4.2 million tonnes up 13.2% YoY and for 9M FY2024 stood at
12.79 million tones up 13.3% YoY.
Blended
cement contribution stood at 83% for Q3FY2024 and 85% for 9MFY2024.
Trade
sales stood at 69% of the total sales in Q3FY2024 and 73% in 9MFY2024.
Premium
cement contribution stood at 52% of the trade sales in Q3FY2024 and 53% in
9MFY2024.
Realization
per ton stood at Rs 5278/ton in Q3FY2024 and Rs 5214/ton in 9M FY2024.
EBITDA
per ton stood at 903/ton in Q3FY2024 and Rs 749/ton in 9MFY2024.
| Birla Corporation : 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) | 2,312.00 | 2,016.11 | 14.68 | 7,006.29 | 6,219.70 | 12.65 | 8,682.27 | 7,461.22 | 16.37 | | OPM (%) | 16.37 | 7.16 | 921 bps | 13.78 | 8.00 | 577 bps | 8.89 | 14.88 | -599 bps | | OP | 378.50 | 144.41 | 162.10 | 965.19 | 497.68 | 93.94 | 772.01 | 1,110.01 | -30.45 | | Other Inc. | 16.31 | 7.89 | 106.72 | 59.88 | 63.94 | -6.35 | 113.05 | 98.78 | 14.45 | | PBIDT | 394.81 | 152.30 | 159.23 | 1,025.07 | 561.62 | 82.52 | 885.06 | 1,208.79 | -26.78 | | Interest | 96.52 | 86.92 | 11.04 | 289.34 | 250.00 | 15.74 | 338.72 | 242.66 | 39.59 | | PBDT | 298.29 | 65.38 | 356.24 | 735.73 | 311.62 | 136.10 | 546.34 | 966.13 | -43.45 | | Depreciation | 144.82 | 129.86 | 11.52 | 428.61 | 369.79 | 15.91 | 509.88 | 396.94 | 28.45 | | PBT | 153.47 | -64.48 | LP | 307.12 | -58.17 | LP | 36.46 | 569.19 | -93.59 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 153.47 | -64.48 | LP | 307.12 | -58.17 | LP | 36.46 | 569.19 | -93.59 | | EO Income | 0 | 0 | - | -0.25 | -11.65 | 97.85 | 6.65 | -31.44 | LP | | PBT after EO | 153.47 | -64.48 | LP | 306.87 | -69.82 | LP | 43.11 | 537.75 | -91.98 | | Taxation | 44.33 | -14.57 | PL | 79.65 | -25.37 | PL | 2.61 | 139.16 | -98.12 | | PAT | 109.14 | -49.91 | LP | 227.22 | -44.45 | LP | 40.5 | 398.59 | -89.84 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 109.14 | -49.91 | LP | 227.22 | -44.45 | LP | 40.5 | 398.59 | -89.84 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 109.14 | -49.91 | LP | 227.22 | -44.45 | LP | 40.5 | 398.59 | -89.84 | | EPS (Rs)* | 14.17 | -6.48 | LP | 29.53 | -4.26 | LP | 4.45 | 54.78 | -91.88 | | | * EPS is on current equity of Rs 77.01 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| Birla Corporation : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Cement | 96.50 | 2,232.55 | 1,925.85 | 15.93 | 95.80 | 6,716.99 | 5,901.16 | 13.82 | 94.88 | 8,244.89 | 7,054.06 | 16.88 | | Jute | 3.44 | 79.58 | 90.37 | -11.94 | 4.13 | 289.30 | 317.57 | -8.90 | 5.02 | 436.61 | 407.60 | 7.12 | | Others | 0.06 | 1.30 | 2.31 | -43.72 | 0.07 | 5.11 | 5.10 | 0.20 | 0.09 | 7.86 | 7.85 | 0.13 | | Total Reported Sales | 100.00 | 2,313.43 | 2,018.53 | 14.61 | 100.00 | 7,011.40 | 6,223.83 | 12.65 | 100.00 | 8,689.36 | 7,469.51 | 16.33 | | Less: Inter segment revenues | | 1.43 | 2.42 | -40.91 | | 5.11 | 4.13 | 23.73 | | 7.09 | 8.29 | -14.48 | | Net Sales | 100.00 | 2,312.00 | 2,016.11 | 14.68 | 100.00 | 7,006.29 | 6,219.70 | 12.65 | 100.00 | 8,682.27 | 7,461.22 | 16.37 | | PBIT | | Cement | 100.08 | 258.38 | 30.81 | 738.62 | 98.89 | 597.97 | 161.80 | 269.57 | 93.72 | 349.12 | 720.47 | -51.54 | | Jute | 0.14 | 0.37 | 6.15 | -93.98 | 1.39 | 8.39 | 19.97 | -57.99 | 6.92 | 25.79 | 44.17 | -41.61 | | Others | -0.22 | -0.57 | -0.48 | -18.75 | -0.28 | -1.68 | -1.82 | 7.69 | -0.65 | -2.41 | -2.99 | 19.40 | | Total PBIT | 100.00 | 258.18 | 36.48 | 607.73 | 100.00 | 604.68 | 179.95 | 236.03 | 100.00 | 372.50 | 761.65 | -51.09 | | Less : Interest | | 96.52 | 86.92 | 11.04 | | 289.34 | 250.00 | 15.74 | | 338.72 | 242.66 | 39.59 | | Add: Other un-allcoable | | -8.19 | -14.04 | 41.67 | | -8.47 | 0.23 | PL | | 9.33 | 18.76 | -50.27 | | PBIT Margin(%) | | Cement | | 11.57 | 1.60 | 997.35 | | 8.90 | 2.74 | 616.05 | | 4.23 | 10.21 | -597.92 | | Jute | | 0.46 | 6.81 | -634.04 | | 2.90 | 6.29 | -338.83 | | 5.91 | 10.84 | -492.97 | | Others | | -43.85 | -20.78 | -2,306.69 | | -32.88 | -35.69 | 280.96 | | -30.66 | -38.09 | 742.76 | | PBT | 100.00 | 153.47 | -64.48 | LP | 100.00 | 306.87 | -69.82 | LP | 100.00 | 43.11 | 537.75 | -91.98 |
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