|
Grauer & Weil (India) consolidated net sales increased 13.61% to Rs
285.03 crore in Q3FY24 compared to Q3FY23.
Sales of Engineering segment has gone up 81.70% to Rs 58.89 crore
(accounting for 20.59% of total sales).
Sales of Shoppertainment segment fell 0.00% to Rs 9.41 crore (accounting
for 3.29% of total sales). Sales of
Surface Finishings segment has gone up 3.58% to Rs 217.68 crore (accounting for
76.12% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped
18.62% to Rs 62.44 crore. PBIT of
Engineering segment rose 148.48% to Rs 13.12 crore (accounting for 21.01% of
total PBIT). PBIT of Shoppertainment
segment fell 6.75% to Rs 6.91 crore (accounting for 11.07% of total PBIT). PBIT of Surface Finishings segment rose 6.16%
to Rs 42.41 crore (accounting for 67.92% of total PBIT).
PBIT margin of Engineering segment rose from 16.29% to 22.28%. PBIT margin of Shoppertainment segment fell
from 78.75% to 73.43%. PBIT margin of
Surface Finishings segment rose from 19.01% to 19.48%. Overall PBIT margin rose from 20.89% to
21.83%.
Operating profit margin has jumped from 18.67% to 19.15%, leading to
16.53% rise in operating profit to Rs 54.57 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 55.40% to 51.70%. Purchase of finished goods cost fell from
0.54% to 0.48%. Employee cost increased
from 9.51% to 9.96%. Other expenses
rose from 16.45% to 18.76%.
Other income rose 70.62% to Rs 9.35 crore. PBIDT rose 22.19% to Rs 63.92 crore. Provision for interest fell 42.03% to Rs 0.4
crore.
PBDT rose 23.05% to Rs 63.52 crore.
Provision for depreciation rose 4.89% to Rs 5.36 crore.
Profit before tax grew 25.05% to Rs 58.16 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense
of Rs 15.41 crore, compared to Rs 12.07 crore.
Effective tax rate was 26.50% compared to 25.95%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 24.13% to Rs 42.75 crore.
Promoters’ stake was 69.05% as of 31 December 2023 ,compared to 69.05% as
of 31 December 2022 .
For year-to-date
(YTD) results analysis
Net sales (including other operating income) of Grauer & Weil (India)
has increased 12.39% to Rs 735.78 crore.
Sales of Engineering segment has gone up 98.17% to Rs 96.61 crore
(accounting for 13.07% of total sales).
Sales of Shoppertainment segment rose 0.58% to Rs 27.70 crore
(accounting for 3.75% of total sales).
Sales of Surface Finishings segment has gone up 5.84% to Rs 615.04 crore
(accounting for 83.19% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped
22.27% to Rs 171.00 crore. PBIT of
Engineering segment rose 186.82% to Rs 17.84 crore (accounting for 10.43% of
total PBIT). PBIT of Shoppertainment
segment fell 5.81% to Rs 20.41 crore (accounting for 11.94% of total
PBIT). PBIT of Surface Finishings
segment rose 18.56% to Rs 132.75 crore (accounting for 77.63% of total
PBIT).
PBIT margin of Engineering segment rose from 12.76% to 18.47%. PBIT margin of Shoppertainment segment fell
from 78.69% to 73.68%. PBIT margin of
Surface Finishings segment rose from 19.27% to 21.58%. Overall PBIT margin rose from 21.27% to
23.13%.
Operating profit margin has jumped from 19.15% to 20.55%, leading to
20.62% rise in operating profit to Rs 151.19 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 54.29% to 49.40%. Purchase of finished goods cost rose from
0.42% to 0.44%. Employee cost increased
from 9.97% to 10.40%. Other expenses
rose from 17.00% to 19.69%.
Other income rose 63.14% to Rs 22.53 crore. PBIDT rose 24.84% to Rs 173.72 crore. Provision for interest fell 13.51% to Rs 0.96
crore.
PBDT rose 25.15% to Rs 172.76 crore.
Provision for depreciation rose 3.96% to Rs 15.74 crore.
Profit before tax grew 27.76% to Rs 157.02 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense
of Rs 39.91 crore, compared to Rs 31.64 crore.
Effective tax rate was 25.42% compared to 25.74%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 28.33% to Rs 117.11 crore.
Promoters’ stake was 69.05% as of 31 December 2023 ,compared to 69.05% as
of 31 December 2022.
The scrip is
currently trading at Rs 181
|
Grauer & Weil (India) :
Consolidated Results
|
|
Particulars
|
2312 (03)
|
2212 (03)
|
Var.(%)
|
2312 (09)
|
2212 (09)
|
Var.(%)
|
2303 (12)
|
2203 (12)
|
Var.(%)
|
|
Net Sales
|
285.03
|
250.89
|
14
|
735.78
|
654.64
|
12
|
981.82
|
768.29
|
28
|
|
OPM (%)
|
19.1
|
18.7
|
|
20.5
|
19.1
|
|
15.8
|
14.7
|
|
|
OP
|
54.57
|
46.83
|
17
|
151.19
|
125.34
|
21
|
155.34
|
112.63
|
38
|
|
Other Inc.
|
9.35
|
5.48
|
71
|
22.53
|
13.81
|
63
|
19.02
|
13.81
|
38
|
|
PBIDT
|
63.92
|
52.31
|
22
|
173.72
|
139.15
|
25
|
174.36
|
126.44
|
38
|
|
Interest
|
0.4
|
0.69
|
PL
|
0.96
|
1.11
|
-14
|
1.86
|
2.51
|
-26
|
|
PBDT
|
63.52
|
51.62
|
23
|
172.76
|
138.04
|
25
|
172.5
|
123.93
|
39
|
|
Depreciation
|
5.36
|
5.11
|
5
|
15.74
|
15.14
|
4
|
19.81
|
19.63
|
1
|
|
PBT
|
58.16
|
46.51
|
25
|
157.02
|
122.9
|
28
|
152.69
|
104.3
|
46
|
|
Share of Profit/(Loss) from Associates
|
0
|
0
|
|
0
|
0
|
|
0
|
0.09
|
|
|
PBT before EO
|
58.16
|
46.51
|
25
|
157.02
|
122.9
|
28
|
152.69
|
104.39
|
46
|
|
EO Income
|
0
|
0
|
PL
|
0
|
0
|
PL
|
-0.72
|
2.42
|
PL
|
|
PBT after EO
|
58.16
|
46.51
|
25
|
157.02
|
122.9
|
28
|
151.97
|
106.81
|
42
|
|
Taxation
|
15.41
|
12.07
|
28
|
39.91
|
31.64
|
26
|
39.01
|
28.05
|
39
|
|
PAT
|
42.75
|
34.44
|
24
|
117.11
|
91.26
|
28
|
112.96
|
78.76
|
43
|
|
Minority Interest (MI)
|
0
|
0
|
|
0
|
0
|
|
0
|
0
|
|
|
Net profit
|
42.75
|
34.44
|
24
|
117.11
|
91.26
|
28
|
112.96
|
78.76
|
43
|
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
5.0
|
3.4
|
|
|
Notes
|
|
* EPS is on current equity of Rs 22.67 crore, Face value of Rs
1, Excluding extraordinary items.
|
|
# EPS is not annualised
|
|
bps : Basis points
|
|
EO : Extraordinary items
|
|
Figures in Rs crore
|
|
Source: Capitaline Corporate Database
|
|
Grauer & Weil (India) :
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
|
|
Engineering
|
21
|
58.89
|
32.41
|
82
|
13
|
96.61
|
48.75
|
98
|
10
|
100.34
|
73.06
|
37
|
|
Shoppertainment
|
3
|
9.41
|
9.41
|
0
|
4
|
27.7
|
27.54
|
1
|
4
|
36.46
|
19.55
|
87
|
|
Surface Finishings
|
76
|
217.68
|
210.15
|
4
|
83
|
615.04
|
581.12
|
6
|
86
|
848.91
|
678.54
|
25
|
|
Total Reported Sales
|
100
|
285.98
|
251.97
|
13
|
100
|
739.35
|
657.41
|
12
|
100
|
985.71
|
771.15
|
28
|
|
Add: Unallocable
|
|
8.4
|
4.4
|
91
|
|
18.96
|
11.04
|
72
|
|
0
|
0
|
-
|
|
Net Sales
|
|
294.38
|
256.37
|
15
|
|
758.31
|
668.45
|
13
|
|
985.71
|
771.15
|
28
|
|
PBIT
|
|
Engineering
|
21
|
13.12
|
5.28
|
LP
|
10
|
17.84
|
6.22
|
187
|
6
|
10.15
|
8.3
|
22
|
|
Shoppertainment
|
11
|
6.91
|
7.41
|
-7
|
12
|
20.41
|
21.67
|
-6
|
16
|
28.49
|
12.5
|
128
|
|
Surface Finishings
|
68
|
42.41
|
39.95
|
6
|
78
|
132.75
|
111.97
|
19
|
78
|
134.63
|
110.74
|
22
|
|
Total PBIT
|
100
|
62.44
|
52.64
|
19
|
100
|
171
|
139.86
|
22
|
100
|
173.27
|
131.54
|
32
|
|
Less : Interest
|
|
0.4
|
0.69
|
PL
|
|
0.96
|
1.11
|
-14
|
|
1.86
|
2.51
|
-26
|
|
Add: Other un-allcoable
|
|
-3.88
|
-5.44
|
-29
|
|
-13.02
|
-15.85
|
-18
|
|
-19.44
|
-22.22
|
13
|
|
PBT
|
|
58.16
|
46.51
|
25
|
|
157.02
|
122.9
|
28
|
|
151.97
|
106.81
|
42
|
|