For
the quarter ending March 2023, consolidated Net sales (including other operating income) of NDR Auto Components has increased 35.15% to Rs 176.05 crore compared to quarter ended March 2023. Operating profit margin has jumped from 8.32% to 9.34%, leading to 51.66% rise in operating profit to Rs 16.44 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 77.30% to 78.58%. Employee cost decreased from 2.72% to 2.65%. Other expenses fell from 11.47% to 9.43%. Other income fell 66.67% to Rs 0.93 crore. PBIDT rose 27.44% to Rs 17.37 crore. Provision for interest rose 36.36% to Rs 0.75 crore. Loan funds declined from Rs 33.72 crore as of 31 March 2023 to Rs 31.17 crore as of 31 March 2024. Inventories declined from Rs 39.34 crore as of 31 March 2023 to Rs 29.73 crore as of 31 March 2024. Sundry debtors were higher at Rs 87.12 crore as of 31 March 2024 compared to Rs 31.10 crore as of 31 March 2023. Cash and bank balance declined from Rs 51.53 crore as of 31 March 2023 to Rs 33.43 crore as of 31 March 2024. Investments rose to Rs 56.43 crore as of 31 March 2024 from Rs 50.51 crore as of 31 March 2023 .
PBDT rose 27.06% to Rs 16.62 crore. Provision for depreciation rose 28.86% to Rs 3.84 crore. Fixed assets increased to Rs 158.62 crore as of 31 March 2024 from Rs 146.66 crore as of 31 March 2023. Intangible assets declined from Rs 0.22 crore to Rs 0.12 crore.
Profit before tax grew 26.53% to Rs 12.78 crore. Share of profit/loss was 17.07% lower at Rs 2.04 crore. Provision for tax was expense of Rs 3.21 crore, compared to Rs 2.6 crore. Effective tax rate was 21.66% compared to 20.70%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 16.57% to Rs 11.61 crore. Equity capital increased from Rs 5.95 crore as of 31 March 2023 to Rs 11.89 crore as of 31 March 2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 73.06% as of 31 March 2024 ,compared to 73.95% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of NDR Auto Components has increased 53.16% to Rs 601.57 crore. Operating profit margin has jumped from 8.08% to 9.35%, leading to 77.13% rise in operating profit to Rs 56.22 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 75.65% to 77.43%. Employee cost decreased from 3.14% to 2.82%. Other expenses fell from 13.15% to 10.42%. Other income fell 43.11% to Rs 3.59 crore. PBIDT rose 57.19% to Rs 59.81 crore. Provision for interest rose 59.78% to Rs 2.86 crore. Loan funds declined from Rs 33.72 crore as of 31 March 2023 to Rs 31.17 crore as of 31 March 2024. Inventories declined from Rs 39.34 crore as of 31 March 2023 to Rs 29.73 crore as of 31 March 2024. Sundry debtors were higher at Rs 87.12 crore as of 31 March 2024 compared to Rs 31.10 crore as of 31 March 2023. Cash and bank balance declined from Rs 51.53 crore as of 31 March 2023 to Rs 33.43 crore as of 31 March 2024. Investments rose to Rs 56.43 crore as of 31 March 2024 from Rs 50.51 crore as of 31 March 2023 .
PBDT rose 57.06% to Rs 56.95 crore. Provision for depreciation rose 70.39% to Rs 14.79 crore. Fixed assets increased to Rs 158.62 crore as of 31 March 2024 from Rs 146.66 crore as of 31 March 2023. Intangible assets declined from Rs 0.22 crore to Rs 0.12 crore.
Profit before tax grew 52.86% to Rs 42.16 crore. Share of profit/loss was 4.33% lower at Rs 7.29 crore. Provision for tax was expense of Rs 10.74 crore, compared to Rs 7.09 crore. Effective tax rate was 21.72% compared to 20.14%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 37.71% to Rs 38.71 crore.
Equity capital increased from Rs 5.95 crore as of 31 March 2023 to Rs 11.89 crore as of 31 March 2024. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 73.06% as of 31 March 2024 ,compared to 73.95% as of 31 March 2023 .
Other Highlights
The
board has recommended a dividend of Rs 3.75 each on equity
share having face value of Rs 10 each for the year ended 31 March 2024. The record
date for the payment of dividend is July 15, 2024.
In line with business strategy of expanding
OEM relationships and widening product portfolio,