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Honeywell Automation India reported a 5% increase in net sales to Rs 592.24 crore for Mar 17 quarter. OPM was higher by 420 bps to 12.2%, thus resulting OP of Rs 72.54 crore for Mar 17 quarter, up by 60%. Other income was higher by 63% to Rs 11.01 crore. PBIDT thus was up by 61% to Rs 83.55 crore. Interest costs stood at 25 lakh for Mar 17 quarter. After providing depreciation of Rs 4.11 crore up by 2% YoY, PBT stood at Rs 79.19 crore, up by 66%. After providing total tax of Rs 28.23 crore, up by 65% on YoY basis, PAT for the Mar 17 quarter stood at Rs 50.96 crore, up by 66% YoY. There was a prior period tax of Rs 29.10 crore paid in Mar'17 quarter, thus PAT after PPI, stood at Rs 21.86 crore, down by 29% YoY.
Performance for the 12 months ended Mar 17
For 12 months ended Mar 17, net sales were up by 10% to Rs 2410.07 crore. OPM was higher by 190 bps to 11.9% thus resulting in a 31% increase in OP to Rs 285.89 crore. Other income was up by 59% to Rs 38.03 crore. Interest cost stood at Rs 38 lakh. Depreciation was up by 6% to Rs 16.35 crore, leading a 36% increase in PBT to Rs 307.31 crore. After providing total tax of Rs 108.76 crore, PAT for 12 months ended Mar 17 stood at Rs 198.55 crore up by 41% YoY. There was a piro period tax of Rs 29.10 crore paid in Mar 17 quarter, thus PAT for FY 17 after PPI stood at Rs 169.45 crore, up by 20% .
The company has recommended a dividend of Rs 10 each per equity share of face value of Rs 10 each for FY 17.
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