|
Consolidated net sales (including other operating income) of Atul Auto for the quarter ended March 2021 has declined 19.02% to Rs 91.17 crore hit by lower volume. Sales volume for the period was down by 35% to 4993 numbers on the back of continued weak demand. But with per unit realisation up 25%, the fall in operating revenue (excluding other operating revenue) was restricted at 20% to Rs 89.21 crore. But with other operating income up 11% to Rs 1.96 crore the total operating income was down 19% to Rs 91.17 crore. As sales in not good enough to cover the fixed cost, the OPM stood negative 6% compared to 5% in corresponding previous period. Thus at operating level it was a loss of Rs 5.45 crore compared to a profit of Rs 5.65 crore. Other income rose 2.63% to Rs 0.39 crore. Provision for interest fell 5.56% to Rs 0.17 crore. Depreciation was flat at 0% to Rs 1.61 crore. Thus the PBT was a loss of Rs 6.84 crore compared to a profit of Rs 4.24 crore in the corresponding previous period. Provision for tax was credit of Rs 1.56 crore, compared to debit of Rs 0.47 crore. Thus the PAT was a loss of Rs5.28 crore compared to a profit of Rs3.77 crore in the corresponding previous period.Share of profit/loss was 35% lower at Rs 0.13 crore. Minority interest was nil in both the periods.
Yearly performance
Net sales (including other operating income) has declined 52.68% to Rs 295.9 crore with sales down 63% to 16295 units. As OPM stand at -2.6% against 11.4% in corresponding previous period. Other income fell 47.13% to Rs 1.66 crore. Provision for interest fell 14.56% to Rs 0.88 crore. Provision for depreciation rose 2.50% to Rs 6.56 crore. Thus the PBT was a loss of Rs 13.44 crore compared to a profit of Rs 66.88 crore. Provision for tax was credit of Rs 3 crore, compared to debit of Rs 14.64 crore. Thus the PAT was a loss of Rs 10.44 crore against a profit of Rs 52.24 crore. Share of profit/loss was 66.18% higher at Rs 2.26 crore. Minority interest was nil in both the periods. Thus the net profit (after MI) was a loss of Rs8.18 crore against a profit of Rs53.60 crore.
Other developments
The company due to Covid 19 has rescheduled date of commencement of production of its new plant at Bhayla, Ahmedabad, The management will schedule the new date after evaluation of current situation and once the demand and economy revives.
Company has entered into a Memorandum of Understanding on 30th October, 2020 with Khushbu Auto Finance ("KAFL") (Associate Company) & the promoters of KAFL for transfer of 100% equity shares & control tocompany & issue of 2, 75,80,000 number of Participative Preference Shares ('PPS') having face value of Rs10 each at the price of Rs. 16.16 per share with the prescribed terms and conditions from KAFL to promoters of KAFL, subject to the approval of the Reserve Bank of India (RBI). As al the date of result, approval from RBI is yet not received.
Equity capital stood at Rs 10.97 crore as of 31 March 2021 to Rs 10.97 crore as of 31 March 2020. Per share face Value remained same at Rs 5.00.
Promoters' stake was 52.70% as of 31 March 2021,compared to 52.70% as of 31 March 2020.
|