Capitaline

Results 12-May-24

Analysis

Control Print

PBT up 9%

Consolidated net sales (including other operating income) of Control Print has increased 13.71% to Rs 100.61 crore. Operating profit margin has declined from 23.62% to 22.86%, leading to 10.05% rise in operating profit to Rs 23.00 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 37.95% to 38.09%. Purchase of finished goods cost fell from 5.78% to 4.06%. Employee cost increased from 15.44% to 15.78%. Other expenses rose from 18.32% to 19.38%. Other direct service cost fell from 3.64% to 0.48%.

Other income fell 48.24% to Rs 0.88 crore. PBIDT rose 5.66% to Rs 23.88 crore. Provision for interest rose 6.25% to Rs 0.51 crore. Loan funds rose to Rs 7.37 crore as of 31 March 2024 from Rs 5.54 crore as of 31 March 2023. Inventories rose to Rs 100.89 crore as of 31 March 2024 from Rs 76.67 crore as of 31 March 2023. Sundry debtors were higher at Rs 81.05 crore as of 31 March 2024 compared to Rs 74.57 crore as of 31 March 2023. Cash and bank balance rose to Rs 23.75 crore as of 31 March 2024 from Rs 17.00 crore as of 31 March 2023. Investments declined from Rs 52.77 crore as of 31 March 2023 to Rs 40.46 crore as of 31 March 2024.

PBDT rose 5.65% to Rs 23.37 crore. Provision for depreciation fell 12.08% to Rs 3.42 crore. Fixed assets increased to Rs 146.29 crore as of 31 March 2024 from Rs 117.88 crore as of 31 March 2023. Intangible assets increased from Rs 10.22 crore to Rs 11.67 crore.

Profit before tax grew 9.43% to Rs 19.95 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 7.48 crore, compared to Rs 2.22 crore. Effective tax rate was 37.49% compared to 12.18%.

Net profit attributable to owners of the company decreased 17.85% to Rs 13.02 crore. Equity capital decreased from Rs 16.33 crore as of 31 March 2023 to Rs 15.99 crore as of 31 March 2024 . Per share face Value remained same at Rs 10.00.

Promoters’ stake was 52.73% as of 31 March 2024 compared to 51.78% as of 31 March 2023 .

Full year results analysis

Net sales (including other operating income) of Control Print has increased 18.07% to Rs 359.27 crore. Operating profit margin has declined from 24.99% to 23.94%, leading to 13.12% rise in operating profit to Rs 86.02 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 33.68% to 33.36%. Purchase of finished goods cost fell from 7.02% to 6.89%. Employee cost increased from 17.41% to 17.99%. Other expenses rose from 17.27% to 17.51%. Other direct service cost fell from 3.12% to 2.83%.

Other income fell 1.30% to Rs 3.81 crore. PBIDT rose 12.43% to Rs 89.83 crore. Provision for interest rose 23.94% to Rs 1.76 crore. Loan funds rose to Rs 7.37 crore as of 31 March 2024 from Rs 5.54 crore as of 31 March 2023. Inventories rose to Rs 100.89 crore as of 31 March 2024 from Rs 76.67 crore as of 31 March 2023. Sundry debtors were higher at Rs 81.05 crore as of 31 March 2024 compared to Rs 74.57 crore as of 31 March 2023. Cash and bank balance rose to Rs 23.75 crore as of 31 March 2024 from Rs 17.00 crore as of 31 March 2023. Investments declined from Rs 52.77 crore as of 31 March 2023 to Rs 40.46 crore as of 31 March 2024.

PBDT rose 12.22% to Rs 88.07 crore. Provision for depreciation fell 7.48% to Rs 13.98 crore. Fixed assets increased to Rs 146.29 crore as of 31 March 2024 from Rs 117.88 crore as of 31 March 2023. Intangible assets increased from Rs 10.22 crore to Rs 11.67 crore.

Profit before tax grew 16.92% to Rs 74.09 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs 0.06 crore. Provision for tax was expense of Rs 19.64 crore, compared to Rs 10.72 crore. Effective tax rate was 26.49% compared to 16.86%.

Net profit attributable to owners of the company increased 4.47% to Rs 54.92 crore.

Equity capital decreased from Rs 16.33 crore as of 31 March 2023 to Rs 15.99 crore as of 31 March 2024 . Per share face Value remained same at Rs 10.00.

Promoters’ stake was 52.73% as of 31 March 2024 ,compared to 51.78% as of 31 March 2023 .

Cash flow from operating activities decreased to Rs 49.76 crore for year ended March 2024 from Rs 54.52 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 41.66 crore, compared to Rs 27.24 crore during the year ended March 2023.

The scrip is currently trading at Rs 909

Control Print : Consolidated Results
Particulars	2403 (03)	2303 (03)	Var.(%)	2403 (12)	2303 (12)	Var.(%)
Net Sales	100.61	88.48	14	359.27	304.29	18
OPM (%)	22.9	23.6		23.9	25.0
OP	23	20.9	10	86.02	76.04	13
Other Inc.	0.88	1.7	-48	3.81	3.86	-1
PBIDT	23.88	22.6	6	89.83	79.9	12
Interest	0.51	0.48	6	1.76	1.42	24
PBDT	23.37	22.12	6	88.07	78.48	12
Depreciation	3.42	3.89	-12	13.98	15.11	-7
PBT	19.95	18.23	9	74.09	63.37	17
Share of Profit/(Loss) from Associates	0	0		0	0
PBT before EO	19.95	18.23	9	74.09	63.37	17
EO Income	0	0		0.06	0.2
PBT after EO	19.95	18.23	9	74.15	63.57	17
Taxation	7.48	2.22	237	19.64	10.72	83
PAT	12.47	16.01	-22	54.51	52.85	3
Minority Interest (MI)	-0.55	0.16	LP	-0.41	0.28	LP
Net profit	13.02	15.85	-18	54.92	52.57	4
EPS (Rs)*	#	#		34.3	32.8
Notes
* EPS is on current equity of Rs 16.33 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

Previous News

Control Print consolidated net profit rises 16.26% in the March 2022 quarter
( Results - Announcements 20-May-22 08:10 )

Control Print consolidated net profit rises 2.62% in the September 2020 quarter
( Results - Announcements 23-Oct-20 18:51 )

Control Print
( Analyst Meet / AGM - Conference Call 24-Jan-24 08:48 )

Control Print to declare Quarterly Result
( Corporate News - 08-Jul-21 12:35 )

Control Print to conduct board meeting
( Corporate News - 16-Jan-24 12:10 )

Board of Control Print recommends final dividend
( Corporate News - 03-May-23 10:15 )

Control Print consolidated net profit rises 17.75% in the December 2021 quarter
( Results - Announcements 28-Jan-22 08:09 )

Board of Control Print recommends Final Dividend
( Corporate News - 20-May-22 10:22 )

Control Print to hold board meeting
( Corporate News - 22-May-15 11:50 )

Shares of Control Print get listed on NSE
( Corporate News - 23-Jun-16 14:12 )

Control Print to discuss results
( Corporate News - 13-Jul-18 09:46 )