For
the quarter ending Dec 2023, consolidated Net sales (including other operating income) of Hindustan Composites has increased 3.26% to Rs 71.69 crore compared to quarter ended Dec 2022. Sales of Composite Products segment has gone up 6.16% to Rs 63.38 crore (accounting for 88.41% of total sales). Sales of Investment segment has gone down 14.59% to Rs 8.31 crore (accounting for 11.59% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 16.68% to Rs 11.47 crore. PBIT of Composite Products segment rose 82.06% to Rs 5.48 crore (accounting for 47.78% of total PBIT). PBIT of Investment segment fell 12.17% to Rs 5.99 crore (accounting for 52.22% of total PBIT).
PBIT margin of Composite Products segment rose from 5.04% to 8.65%. PBIT margin of Investment segment rose from 70.09% to 72.08%. Overall PBIT margin rose from 14.16% to 16.00%.
Operating profit margin has jumped from 12.60% to 15.37%, leading to 25.94% rise in operating profit to Rs 11.02 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.91% to 46.16%. Employee cost decreased from 14.05% to 13.75%. Other expenses fell from 25.29% to 24.64%. Other income fell 66.67% to Rs 0.01 crore. PBIDT rose 25.63% to Rs 11.03 crore. Provision for interest fell 50% to Rs 0.01 crore.
PBDT rose 25.80% to Rs 11.02 crore. Provision for depreciation rose 12.44% to Rs 2.53 crore.
Profit before tax grew 30.41% to Rs 8.49 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 2.03 crore, compared to Rs 1.08 crore. Effective tax rate was 23.91% compared to 16.59%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 18.97% to Rs 6.46 crore. Promoters’ stake was 74.97% as of 31 December 2023 ,compared to 74.97% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Hindustan Composites has increased 7.03% to Rs 219.11 crore. Sales of Composite Products segment has gone up 7.80% to Rs 183.51 crore (accounting for 83.75% of total sales). Sales of Investment segment has gone up 3.25% to Rs 35.60 crore (accounting for 16.25% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 29.98% to Rs 41.84 crore. PBIT of Composite Products segment rose 160.78% to Rs 14.63 crore (accounting for 34.97% of total PBIT). PBIT of Investment segment rose 2.37% to Rs 27.21 crore (accounting for 65.03% of total PBIT).
PBIT margin of Composite Products segment rose from 3.30% to 7.97%. PBIT margin of Investment segment fell from 77.09% to 76.43%. Overall PBIT margin rose from 15.72% to 19.10%.
Operating profit margin has jumped from 13.64% to 17.81%, leading to 39.74% rise in operating profit to Rs 39.03 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.70% to 44.32%. Employee cost decreased from 14.37% to 13.36%. Other expenses rose from 24.36% to 24.54%. Other income rose 16.39% to Rs 0.71 crore. PBIDT rose 39.24% to Rs 39.74 crore. Provision for interest fell 18.18% to Rs 0.09 crore.
PBDT rose 39.47% to Rs 39.65 crore. Provision for depreciation rose 6% to Rs 7.07 crore.
Profit before tax grew 49.72% to Rs 32.58 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 6.14 crore, compared to Rs 3.79 crore. Effective tax rate was 18.85% compared to 17.42%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 47.13% to Rs 26.44 crore.
Promoters’ stake was 74.97% as of 31 December 2023 ,compared to 74.97% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of Hindustan Composites has increased 21.51% to Rs 282.69 crore. Sales of Composite Products segment has gone up 26.60% to Rs 235.37 crore (accounting for 83.26% of total sales). Sales of Investment segment has gone up 1.28% to Rs 47.32 crore (accounting for 16.74% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 23.24% to Rs 46.67 crore. PBIT of Composite Products segment rose 265.64% to Rs 10.64 crore (accounting for 22.80% of total PBIT). PBIT of Investment segment rose 3.06% to Rs 36.03 crore (accounting for 77.20% of total PBIT).
PBIT margin of Composite Products segment rose from 1.57% to 4.52%. PBIT margin of Investment segment rose from 74.83% to 76.14%. Overall PBIT margin rose from 16.28% to 16.51%.
Operating profit margin has jumped from 14.17% to 14.37%, leading to 23.17% rise in operating profit to Rs 40.61 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 45.39% to 47.09%. Employee cost decreased from 15.45% to 13.75%. Other expenses fell from 25.04% to 24.76%. Other income rose 123.68% to Rs 0.85 crore. PBIDT rose 24.32% to Rs 41.46 crore. Provision for interest rose 62.50% to Rs 0.13 crore. Loan funds rose to Rs 1.01 crore as of 31 March 2023 from Rs 0.30 crore as of 31 March 2022. Inventories declined from Rs 13.51 crore as of 31 March 2022 to Rs 13.50 crore as of 31 March 2023. Sundry debtors were higher at Rs 39.34 crore as of 31 March 2023 compared to Rs 37.06 crore as of 31 March 2022. Cash and bank balance declined from Rs 2.81 crore as of 31 March 2022 to Rs 1.53 crore as of 31 March 2023. Investments rose to Rs 807.08 crore as of 31 March 2023 from Rs 795.95 crore as of 31 March 2022 .
PBDT rose 24.23% to Rs 41.33 crore. Provision for depreciation rose 1.99% to Rs 8.73 crore. Fixed assets declined from Rs 112.77 crore as of 31 March 2022 to Rs 110.52 crore as of 31 March 2023. Intangible assets increased from Rs 0.60 crore to Rs 0.83 crore.
Profit before tax grew 31.93% to Rs 32.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 5.13 crore, compared to Rs 3.11 crore. Effective tax rate was 15.74% compared to 12.59%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 27.18% to Rs 27.47 crore.
Equity capital stood at Rs 7.38 crore as of 31 March 2023 to Rs 7.38 crore as of 31 March 2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 74.97% as of 31 March 2023 ,compared to 74.97% as of 31 March 2022 .
Cash flow from operating activities decreased to Rs 15.70 crore for year ended March 2023 from Rs 22.41 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 7.07 crore, compared to Rs 7.12 crore during the year ended March 2022.
| Hindustan Composites : 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) | 71.69 | 69.43 | 3.26 | 219.11 | 204.71 | 7.03 | 282.69 | 232.64 | 21.51 | | OPM (%) | 15.37 | 12.60 | 277 bps | 17.81 | 13.64 | 417 bps | 14.37 | 14.17 | 19 bps | | OP | 11.02 | 8.75 | 25.94 | 39.03 | 27.93 | 39.74 | 40.61 | 32.97 | 23.17 | | Other Inc. | 0.01 | 0.03 | -66.67 | 0.71 | 0.61 | 16.39 | 0.85 | 0.38 | 123.68 | | PBIDT | 11.03 | 8.78 | 25.63 | 39.74 | 28.54 | 39.24 | 41.46 | 33.35 | 24.32 | | Interest | 0.01 | 0.02 | -50.00 | 0.09 | 0.11 | -18.18 | 0.13 | 0.08 | 62.50 | | PBDT | 11.02 | 8.76 | 25.80 | 39.65 | 28.43 | 39.47 | 41.33 | 33.27 | 24.23 | | Depreciation | 2.53 | 2.25 | 12.44 | 7.07 | 6.67 | 6.00 | 8.73 | 8.56 | 1.99 | | PBT | 8.49 | 6.51 | 30.41 | 32.58 | 21.76 | 49.72 | 32.6 | 24.71 | 31.93 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 8.49 | 6.51 | 30.41 | 32.58 | 21.76 | 49.72 | 32.6 | 24.71 | 31.93 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 8.49 | 6.51 | 30.41 | 32.58 | 21.76 | 49.72 | 32.6 | 24.71 | 31.93 | | Taxation | 2.03 | 1.08 | 87.96 | 6.14 | 3.79 | 62.01 | 5.13 | 3.11 | 64.95 | | PAT | 6.46 | 5.43 | 18.97 | 26.44 | 17.97 | 47.13 | 27.47 | 21.6 | 27.18 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 6.46 | 5.43 | 18.97 | 26.44 | 17.97 | 47.13 | 27.47 | 21.6 | 27.18 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 6.46 | 5.43 | 18.97 | 26.44 | 17.97 | 47.13 | 27.47 | 21.6 | 27.18 | | EPS (Rs)* | 4.37 | 3.68 | 18.97 | 17.90 | 12.17 | 47.13 | 18.60 | 14.63 | 27.18 | | | * EPS is on current equity of Rs 7.38 crore, Face value of Rs 5, 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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| Hindustan Composites : Consolidated Segment Results |
td>-| | Quarter ended | Year to Date | Year ended |
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| % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202312 | 202212 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | Composite Products | 88.41 | 63.38 | 59.70 | 6.16 | 83.75 | 183.51 | 170.23 | 7.80 | 83.26 | 235.37 | 185.92 | 26.60 | | Investment | 11.59 | 8.31 | 9.73 | -14.59 | 16.25 | 35.60 | 34.48 | 3.25 | 16.74 | 47.32 | 46.72 | 1.28 | | Total Reported Sales | 100.00 | 71.69 | 69.43 | 3.26 | 100.00 | 219.11 | 204.71 | 7.03 | 100.00 | 282.69 | 232.64 | 21.51 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 71.69 | 69.43 | 3.26 | 100.00 | 219.11 | 204.71 | 7.03 | 100.00 | 282.69 | 232.64 | 21.51 | | PBIT | | Composite Products | 47.78 | 5.48 | 3.01 | 82.06 | 34.97 | 14.63 | 5.61 | 160.78 | 22.80 | 10.64 | 2.91 | 265.64 | | Investment | 52.22 | 5.99 | 6.82 | -12.17 | 65.03 | 27.21 | 26.58 | 2.37 | 77.20 | 36.03 | 34.96 | 3.06 | | Total PBIT | 100.00 | 11.47 | 9.83 | 16.68 | 100.00 | 41.84 | 32.19 | 29.98 | 100.00 | 46.67 | 37.87 | 23.24 | | Less : Interest | | 0.01 | 0.02 | -50.00 | | 0.09 | 0.11 | -18.18 | | 0.13 | 0.08 | 62.50 | | Add: Other un-allcoable | | -2.97 | -3.30 | 10.00 | | -9.17 | -10.32 | 11.14 | | -13.94 | -13.08 | -6.57 | | PBIT Margin(%) | | Composite Products | | 8.65 | 5.04 | 360.44 | | 7.97 | 3.30 | 467.68 | | 4.52 | 1.57 | 295.54 | | Investment | | 72.08 | 70.09 | 198.93 | | 76.43 | 77.09 | -65.56 | | 76.14 | 74.83 | 131.24 | | PBT | 100.00 | 8.49 | 6.51 | 30.41 | 100.00 | 32.58 | 21.76 | 49.72 | 100.00 | 32.60 | 24.71 | 31.93 |
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