|
EPL consolidated net
sales increased 3.20% to Rs 975.1 crore in Q3FY24 compared to Q3FY23. Sales of
AMESA segment has gone down 1% to Rs 350 crore (accounting for 33% of total
sales). Sales of EAP segment has increased
12% to Rs 252.4 crore (accounting for 24% of total sales). Sales of AMERICAS segment rose 12% to Rs
252.8 crore (accounting for 24% of total sales). Sales of EUROPE segment has gone up 9% to Rs
207.6 crore (accounting for 20% of total sales). Inter-segment sales rose from Rs 50.6 crore
to Rs 87.7 crore.
Profit before
interest, tax and other unallocable items (PBIT) has jumped 19% to Rs 100.2
crore. PBIT of AMESA segment fell 3% to
Rs 39.2 crore (accounting for 39% of total PBIT). PBIT of EAP segment rose 13% to Rs 41.2 crore
(accounting for 41% of total PBIT). PBIT
of AMERICAS segment rose 61% to Rs 17.5 crore (accounting for 17% of total
PBIT). PBIT of EUROPE segment reported
profit of Rs 2.3 crore (accounting for 2% of total PBIT) compared to loss of Rs
3.6 crore.
PBIT margin of AMESA
segment fell from 11.5% to 11.2%. PBIT
margin of EAP segment rose from 16.1% to 16.3%.
PBIT margin of AMERICAS segment rose from 4.8% to 6.9%. PBIT margin of EUROPE segment was positive at
1.1% compared to negative of 1.9%.
Overall PBIT margin rose from 8.5% to 9.4%.
Operating profit
margin has jumped from 15.77% to 18.81%, leading to 23.09% rise in operating
profit to Rs 183.40 crore. Raw material
cost as a % of total sales (net of stock adjustments) decreased from 46.51% to
42.65%. Employee cost increased from
18.08% to 19.61%. Other expenses fell
from 20.04% to 19.23%.
Other income rose
451.16% to Rs 23.7 crore. PBIDT rose
35.09% to Rs 207.1 crore. Provision for
interest rose 55.56% to Rs 29.4 crore.
PBDT rose 32.22% to
Rs 177.7 crore. Provision for
depreciation rose 20.46% to Rs 84.2 crore.
Profit before tax
grew 44.96% to Rs 93.50 crore. Provision
for tax was expense of Rs 7 crore, compared to Rs 1 crore. Effective tax rate was 7.42% compared to
1.56%.
Minority interest
increased 500% to Rs 1.20 crore. Net
profit attributable to owners of the company increased 37.10% to Rs 86.10
crore.
Promoters’ stake was
51.50% as of 31 December 2023 ,compared to 51.53% as of 31 December 2022 .
For year-to-date (YTD) results analysis
Net sales (including
other operating income) of EPL has increased 5.95% to Rs 2886.9 crore. Sales of AMESA segment rose 3% to Rs 1064.9
crore (accounting for 34% of total sales).
Sales of EAP segment has increased 12% to Rs 712.7 crore (accounting for
23% of total sales). Sales of AMERICAS
segment rose 12% to Rs 722.5 crore (accounting for 23% of total sales). Sales of EUROPE segment has gone up 7% to Rs
636.4 crore (accounting for 20% of total sales). Inter-segment sales rose to Rs 249.6 crore
from Rs 181.4 crore.
Profit before
interest, tax and other unallocable items (PBIT) has jumped 17% to Rs 283.2
crore. PBIT of AMESA segment rose 15% to
Rs 120.3 crore (accounting for 42% of total PBIT). PBIT of EAP segment rose 20% to Rs 119.1
crore (accounting for 42% of total PBIT).
PBIT of AMERICAS segment fell 9% to Rs 29 crore (accounting for 10% of
total PBIT). PBIT of EUROPE segment rose
6% to Rs 14.8 crore (accounting for 5% of total PBIT).
PBIT margin of AMESA
segment rose from 10.1% to 11.3%. PBIT
margin of EAP segment rose from 15.6% to 16.7%.
PBIT margin of AMERICAS segment rose fell 5% to 4%. PBIT margin of EUROPE segment rose from 1.1%
to 2.3%. Overall PBIT margin rose from
8.3% to 9%.
Operating profit
margin has jumped from 15.53% to 18.13%, leading to 23.68% rise in operating
profit to Rs 523.40 crore. Raw material
cost as a % of total sales (net of stock adjustments) decreased from 46.13% to
43.20%. Employee cost increased from
18.42% to 19.53%. Other expenses fell
from 20.22% to 19.44%.
Other income rose
183.01% to Rs 43.3 crore. PBIDT rose
29.24% to Rs 566.7 crore. Provision for
interest rose 78.42% to Rs 83.5 crore.
PBDT rose 23.36% to
Rs 483.2 crore. Provision for
depreciation rose 22.98% to Rs 247.8 crore.
Profit before tax
grew 23.76% to Rs 235.40 crore.
Provision for tax was expense of Rs 43 crore, compared to Rs 40
crore. Effective tax rate was 18.07%
compared to 21.55%.
Minority interest
increased 28.12% to Rs 4.10 crore. Net
profit attributable to owners of the company increased 34.06% to Rs 190.90
crore.
Promoters’ stake was
51.50% as of 31 December 2023 compared to 51.53% as of 31 December 2022 .
The scrip is
currently trading at Rs 192
|
EPL : Consolidated Results
|
|
Particulars
|
2312 (03)
|
2212
(03)
|
Var.(%)
|
2312 (09)
|
2212
(09)
|
Var.(%)
|
2303 (12)
|
2203
(12)
|
Var.(%)
|
|
Net
Sales
|
975.10
|
944.90
|
3
|
2886.90
|
2724.80
|
6
|
3,694.10
|
3,432.80
|
8
|
|
OPM
(%)
|
18.8
|
15.8
|
|
18.1
|
15.5
|
|
15.6
|
16.8
|
|
|
OP
|
183.40
|
149.00
|
23
|
523.40
|
423.20
|
24
|
577.8
|
576.1
|
0
|
|
Other
Inc.
|
23.70
|
4.30
|
451
|
43.30
|
15.30
|
183
|
42.1
|
12
|
251
|
|
PBIDT
|
207.10
|
153.30
|
35
|
566.70
|
438.50
|
29
|
619.9
|
588.1
|
5
|
|
Interest
|
29.40
|
18.90
|
56
|
83.50
|
46.80
|
78
|
67.4
|
40.3
|
67
|
|
PBDT
|
177.70
|
134.40
|
32
|
483.20
|
391.70
|
23
|
552.5
|
547.8
|
1
|
|
Depreciation
|
84.20
|
69.90
|
20
|
247.80
|
201.50
|
23
|
280.5
|
251.4
|
12
|
|
PBT
|
93.50
|
64.50
|
45
|
235.40
|
190.20
|
24
|
272
|
296.4
|
-8
|
|
Share
of Profit/(Loss) from Associates
|
0.80
|
-0.50
|
LP
|
2.60
|
-3.50
|
LP
|
-2.9
|
-7.6
|
-62
|
|
PBT
before EO
|
94.30
|
64.00
|
47
|
238.00
|
186.70
|
27
|
269.1
|
288.8
|
-7
|
|
EO
Income
|
0.00
|
0.00
|
|
0.00
|
-1.10
|
|
-1.1
|
0
|
|
|
PBT
after EO
|
94.30
|
64.00
|
47
|
238.00
|
185.60
|
28
|
268
|
288.8
|
-7
|
|
Taxation
|
7.00
|
1.00
|
600
|
43.00
|
40.00
|
8
|
69.40
|
70.30
|
-1
|
|
PAT
|
87.30
|
63.00
|
39
|
195.00
|
145.60
|
34
|
198.6
|
218.5
|
-9
|
|
PPA
|
0.00
|
0.00
|
|
0.00
|
0.00
|
|
-32.10
|
-2.80
|
|
|
PAT after PPA
|
87.30
|
63.00
|
39
|
195.00
|
145.60
|
34
|
230.7
|
221.3
|
4
|
|
Minority
Interest (MI)
|
1.20
|
0.20
|
500
|
4.10
|
3.20
|
28
|
4
|
6.9
|
-42
|
|
Net
profit
|
86.10
|
62.80
|
37
|
190.90
|
142.40
|
34
|
226.7
|
214.4
|
6
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
6.1
|
6.6
|
|
|
Notes
|
|
*
EPS is on current equity of Rs 63.64 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
|
|
EPL
: Consolidated Segment Results
|
|
|
%
of (Total)
|
2312 (03)
|
2212
(03)
|
Var.(%)
|
%
of (Total)
|
2312 (09)
|
2212
(09)
|
Var.(%)
|
%
of (Total)
|
2303 (12)
|
2203
(12)
|
Var.(%)
|
|
Sales
|
|
AMESA
|
33
|
350
|
352.1
|
-1
|
34
|
1064.9
|
1031.3
|
3
|
35
|
1,369.20
|
1,225.90
|
12
|
|
EAP
|
24
|
252.4
|
226.3
|
12
|
23
|
712.7
|
635.7
|
12
|
22
|
849.8
|
862.6
|
-1
|
|
AMERICAS
|
24
|
252.8
|
226
|
12
|
23
|
722.5
|
645.9
|
12
|
22
|
875.8
|
736.2
|
19
|
|
EUROPE
|
20
|
207.6
|
191.1
|
9
|
20
|
636.4
|
593.3
|
7
|
21
|
843.5
|
748.4
|
13
|
|
Total
Reported Sales
|
100
|
1,062.8
|
995.50
|
7
|
100
|
3,136.50
|
2,906.20
|
8
|
100
|
3,938.30
|
3,573.10
|
10
|
|
Less:
Inter segment revenues
|
|
87.7
|
50.6
|
73
|
|
249.6
|
181.4
|
38
|
|
245.6
|
141.4
|
74
|
|
Net
Sales
|
|
975.10
|
944.90
|
3
|
|
2,886.90
|
2,724.80
|
6
|
|
3,692.70
|
3,431.70
|
8
|
|
PBIT
|
|
AMESA
|
39
|
39.2
|
40.4
|
-3
|
42
|
120.3
|
104.6
|
15
|
45
|
146.9
|
129.3
|
14
|
|
EAP
|
41
|
41.2
|
36.5
|
13
|
42
|
119.1
|
98.9
|
20
|
38
|
123.7
|
127.7
|
-3
|
|
AMERICAS
|
17
|
17.5
|
10.9
|
61
|
10
|
29
|
32
|
-9
|
12
|
37.9
|
52.9
|
-28
|
|
EUROPE
|
2
|
2.3
|
-3.6
|
LP
|
5
|
14.8
|
6.8
|
118
|
6
|
20.2
|
25.6
|
-21
|
|
Total
PBIT
|
100
|
100.2
|
84.2
|
19
|
100
|
283.2
|
242.3
|
17
|
100
|
328.7
|
335.5
|
-2
|
|
Less
: Interest
|
|
29.4
|
18.9
|
56
|
|
83.5
|
46.8
|
78
|
|
67.4
|
40.3
|
67
|
|
Add:
Other un-allcoable
|
|
23.5
|
-1.3
|
LP
|
|
38.3
|
-9.9
|
LP
|
|
6.7
|
-6.4
|
LP
|
|
PBT
|
|
94.3
|
64.0
|
47
|
|
238
|
185.6
|
28
|
|
268
|
288.8
|
-7
|
|