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Standalone net sales (including other operating income) of Honeywell Automation India for quarter ended Dec 2023 has increased 5.26% to Rs 1,071.00 crore. Operating profit margin has jumped from 12.82% to 15%, leading to 23.16% rise in operating profit to Rs 160.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 48.69% to 46.34%. Purchase of finished goods cost fell from 10.43% to 10.20%. Employee cost increased from 14.95% to 17.19%. Other expenses fell from 13.01% to 10.80%. Other income up 2.55% to Rs 28.1 crore. PBIDT rose 19.58% to Rs 188.7 crore. Provision for interest up 40% to Rs 1.4 crore. PBDT rose 19.45% to Rs 187.3 crore. Provision for depreciation down 2.29% to Rs 12.8 crore. Profit before tax grew 21.43% to Rs 174.50 crore. Provision for tax was expense of Rs 46.6 crore, compared to Rs 37.6 crore. Effective tax rate was 26.70% compared to 26.17%. Profit after tax rose 20.55% to Rs 127.90 crore. For year-to-date (YTD) results analysis
For 9mFY24, net sales (including other operating income) of Honeywell Automation India has increased 19.62% to Rs 3,107.50 crore.
Operating profit margin has declined from 14.63% to 13.50%, leading to 10.37% rise in operating profit to Rs 419.50 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 43.75% to 43.26%. Purchase of finished goods cost rose from 10.55% to 13.90%. Employee cost decreased from 18.00% to 17.09%. Other expenses fell from 13.06% to 12.18%. Other income fell 0.30% to Rs 101.2 crore. PBIDT rose 8.12% to Rs 520.7 crore. Provision for interest fell 17.14% to Rs 2.9 crore. PBDT rose 8.30% to Rs 517.8 crore. Provision for depreciation rose 4.69% to Rs 40.2 crore. Profit before tax grew 8.62% to Rs 477.60 crore. Provision for tax was expense of Rs 124.4 crore, compared to Rs 113.7 crore. Effective tax rate was 26.05% compared to 25.86%.Profit after tax rose 8.34% to Rs 353.20 crore. Promoters’ stake was 75.00% as of 31 December 2023 ,compared to 75.00% as of 31 December 2022 .
| Honeywell Automation India : Standalone Results | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202312 | 202212 | Var.(%) | 202312 | 202212 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,071.00 | 1,017.50 | 5.26 | 3,107.50 | 2,597.90 | 19.62 | 3,447.60 | 2,948.32 | 16.93 | | OPM (%) | 15.00 | 12.82 | 218 bps | 13.50 | 14.63 | -113 bps | 15.05 | 14.69 | 36 bps | | OP | 160.60 | 130.40 | 23.16 | 419.50 | 380.10 | 10.37 | 518.90 | 433.23 | 19.77 | | Other Inc. | 28.10 | 27.40 | 2.55 | 101.20 | 101.50 | -0.30 | 128.30 | 82.34 | 55.82 | | PBIDT | 188.70 | 157.80 | 19.58 | 520.70 | 481.60 | 8.12 | 647.20 | 515.57 | 25.53 | | Interest | 1.4 | 1 | 40.00 | 2.9 | 3.5 | -17.14 | 4 | 5.49 | -27.14 | | PBDT | 187.30 | 156.80 | 19.45 | 517.80 | 478.10 | 8.30 | 643.20 | 510.08 | 26.10 | | Depreciation | 12.8 | 13.1 | -2.29 | 40.2 | 38.4 | 4.69 | 51.9 | 52.46 | -1.07 | | PBT | 174.50 | 143.70 | 21.43 | 477.6 | 439.7 | 8.62 | 591.3 | 457.62 | 29.21 | | PBT before EO | 174.5 | 143.7 | 21.43 | 477.6 | 439.7 | 8.62 | 591.3 | 457.62 | 29.21 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 174.5 | 143.7 | 21.43 | 477.6 | 439.7 | 8.62 | 591.3 | 457.62 | 29.21 | | Taxation | 46.6 | 37.6 | 23.94 | 124.4 | 113.7 | 9.41 | 153.3 | 118.49 | 29.38 | | PAT | 127.9 | 106.1 | 20.55 | 353.2 | 326 | 8.34 | 438 | 339.13 | 29.15 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 127.9 | 106.1 | 20.55 | 353.2 | 326 | 8.34 | 438 | 339.13 | 29.15 | | EPS (Rs)* | 144.68 | 120.02 | 20.55 | 399.55 | 368.78 | 8.34 | 495.48 | 383.63 | 29.15 | | | * EPS is on current equity of Rs 8.84 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 |
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Peer Comparision (Standalone)
|
Q-202312
|
Sales
(Rs. Crs)
|
var.(%)
|
OP
(Rs. Crs)
|
var.(%)
|
Net Profit
(Rs. Crs)
|
var.(%)
|
Share Price(Rs)
08-Feb-2024
|
var.(%)
over
One year
|
TTM EPS
|
TTM PE
|
|
Honeywell Automation India Ltd
|
1,071.00
|
5.26
|
160.60
|
23.16
|
127.90
|
20.55
|
38,712.30
|
-1.12
|
526.28
|
73.56
|
|
Apollo Micro Systems Ltd
|
91.34
|
10.92
|
23.99
|
49.94
|
10.11
|
27.81
|
123.55
|
274.39
|
0.96
|
129.30
|
|
Avalon Technologies Ltd
|
119.59
|
-2.86
|
12.36
|
10.55
|
10.47
|
81.46
|
484.50
|
21.90
|
6.59
|
73.48
|
|
Bharat Electronics Ltd
|
4,120.10
|
1.83
|
1,049.42
|
22.96
|
893.30
|
49.19
|
184.90
|
92.50
|
4.93
|
37.52
|
|
Centum Electronics Ltd
|
176.12
|
71.89
|
22.30
|
298.93
|
10.84
|
LP
|
1,735.70
|
193.99
|
39.07
|
44.42
|
|
Cosmo Ferrites Ltd
|
21.33
|
-8.69
|
0.53
|
-64.9
|
-1.39
|
-202.17
|
223.25
|
6.69
|
-0.82
|
-
|
|
Cyient DLM Ltd
|
321.04
|
49.74
|
29.43
|
42.59
|
18.44
|
222.38
|
752.70
|
78.89
|
6.44
|
116.95
|
|
Data Patterns (India) Ltd
|
139.51
|
24.77
|
60.04
|
27.64
|
50.97
|
52.97
|
1,901.15
|
27.58
|
29.64
|
64.14
|
|
DCX Systems Ltd
|
197.98
|
-44.38
|
10.85
|
-52.95
|
11.89
|
-31.23
|
350.40
|
93.59
|
7.47
|
46.89
|
|
Hind Rectifiers Ltd
|
136.63
|
40.52
|
-0.49
|
PL
|
8.13
|
235.95
|
562.40
|
168.83
|
12.68
|
44.34
|
|
Incap Ltd
|
3.91
|
4.83
|
0.33
|
-5.71
|
0.10
|
-54.55
|
51.86
|
36.47
|
1.60
|
32.44
|
|
Kaynes Technology India Ltd
|
317.17
|
14.92
|
41.67
|
10.44
|
25.79
|
24.59
|
2,923.60
|
232.17
|
17.99
|
162.50
|
|
MIC Electronics Ltd
|
17.49
|
1310.48
|
2.60
|
LP
|
2.71
|
LP
|
38.63
|
208.05
|
0.36
|
106.14
|
|
Nitiraj Engineers Ltd
|
20.25
|
78.26
|
3.57
|
410
|
2.14
|
355.32
|
178.10
|
146.16
|
4.34
|
41.03
|
|
Syrma SGS Technology Ltd
|
404.23
|
46.21
|
5.31
|
-66.73
|
0.68
|
-95.65
|
518.30
|
96.40
|
2.54
|
204.13
|
|
Industry
|
7,157.69
|
6.15
|
1,422.51
|
21.64
|
1,172.08
|
44.35
|
2,25,465.15
|
73.75
|
|
21.88
|
|