 |
Results
03-Nov-21
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
Elantas Beck India
|
|
Sales up 17%, OP down 41%
|
|
|
|
|
|
Elantas
Beck India standalone net sales increased 16.60% to Rs 132.63 crore in Q3CY21
compared to Q3CY20. Sales of segment has
gone up 11.26% to Rs 111.55 crore (accounting for 83.85% of total sales). Sales of segment has gone up 55.17% to Rs
21.48 crore (accounting for 16.15% of total sales).
Operating
profit margin has declined from 23.23% to 11.77%, leading to 40.92% decline in
operating profit to Rs 15.61 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
53.08% to 68.50%. Purchase of finished
goods cost fell from 4.62% to 0.27%. Employee
cost decreased from 6.04% to 6.01%.
Other expenses fell from 12.75% to 12.57%.
Other
income up 49.45% to Rs 5.47 crore. PBIDT
fell 29.92% to Rs 21.08 crore. Provision
for interest remained nil.
PBDT
fell 29.92% to Rs 21.08 crore. Provision
for depreciation rose 5.50% to Rs 3.07 crore.
Profit before interest, tax and other unallocable items (PBIT) has
slumped 43.81% to Rs 14.00 crore. PBIT
of segment fell 47.02% to Rs 11.75 crore (accounting for 83.89% of total
PBIT). PBIT of segment fell 17.93% to Rs
2.26 crore (accounting for 16.11% of total PBIT).
PBIT
margin of segment fell from 22.11% to 10.53%.
PBIT margin of segment fell from 19.85% to 10.50%. Overall PBIT margin fell from 21.84% to
10.52%.
Profit
before EO was down 33.71% to Rs 18.01 crore.
The company reported EO income of Rs 9.51 crore related to profit on
sale of office space in pimpri compared to nil in the corresponding previous
year period. PBTY after EO was up 1% to Rs 27.52 crore.
Provision
for tax was expense of Rs 7.94 crore, compared to Rs 6.01 crore. Effective tax rate was 28.85% compared to
22.12%.
Profit
after tax fell 7.47% to Rs 19.58 crore.
During the quarter the company terminated the Memorandum of Understanding (MoU) which
was entered with Talegoan Industrial park for acquisition of land situated at
Pune. The company has made a provision of Rs 9.6 crore for expenditure incurred
so far in relation to this project.
Promoters’
stake was 75.00% as of 30 September 2021 ,compared to 75.00% as of 30 September
2020 .
For year-to-date (YTD)
results analysis
Net
sales (including other operating income) of Elantas Beck India has increased
42.05% to Rs 376.62 crore. Sales of
segment has gone up 33.93% to Rs 317.60 crore (accounting for 83.94% of total
sales). Sales of segment has gone up
105.07% to Rs 60.78 crore (accounting for 16.06% of total sales).
Operating
profit margin has declined from 16.30% to 15.01%, leading to 30.80% rise in
operating profit to Rs 56.53 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
55.28% to 67.23%. Purchase of finished
goods cost fell from 5.54% to 0.23%.
Employee cost decreased from 7.75% to 6.07%. Other expenses fell from 14.95% to
11.75%.
Other
income fell 24.21% to Rs 12.24 crore.
PBIDT rose 15.83% to Rs 68.77 crore.
Provision for interest up 13.64% to Rs 0.25 crore.
PBDT
rose 15.84% to Rs 68.52 crore. Provision
for depreciation rose 2.05% to Rs 8.97 crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 33.31% to Rs 52.19 crore. PBIT of
segment rose 22.85% to Rs 43.54 crore (accounting for 83.44% of total
PBIT). PBIT of segment rose 133.44% to
Rs 8.64 crore (accounting for 16.56% of total PBIT).
PBIT
margin of segment fell from 14.95% to 13.71%.
PBIT margin of segment rose from 12.49% to 14.22%. Overall PBIT margin fell from 14.67% to
13.79%.
Profit
before EO grew 18.25% to Rs 59.55 crore.
The company reported EO income of Rs 9.51 crore related to profit on
sale of office space in pimpri compared to nil in the corresponding previous
year period. PBT after EO was up 37% to Rs 69.06 crore.
Provision
for tax was expense of Rs 18.77 crore, compared to Rs 11.14 crore. Effective tax rate was 27.18% compared to
22.12%.
Profit
after tax rose 28.23% to Rs 50.29 crore.
Promoters’
stake was 75.00% as of 30 September 2021 compared to 75.00% as of 30 September
2020 .
Full year results
analysis
Net
sales of Elantas Beck India declined 2.78% to Rs 383.13 crore. Sales of Electrical Insulations segment has
gone down 1.58% to Rs 340.50 crore (accounting for 88.36% of total sales). Sales of Engineering & Electronic Resins
and Materials segment has gone down 13.10% to Rs 44.84 crore (accounting for
11.64% of total sales).
Operating
profit margin has jumped from 13.66% to 18.36%, leading to 30.69% rise in operating
profit to Rs 70.34 crore. Raw material cost as a % of total sales (net of stock
adjustments) decreased from 64.48% to 55.84%. Purchase of finished goods cost
rose from 0.13% to 4.58%. Employee cost increased from 6.90% to 7.34%. Other expenses fell from 14.93% to 13.90%.
Other
income up 23.39% to Rs 21.79 crore.
Profit before interest, tax and other unallocable items (PBIT) has
jumped 20.61% to Rs 64.59 crore. PBIT of
Electrical Insulations segment rose 21.40% to Rs 57.87 crore (accounting for
89.59% of total PBIT). PBIT of
Engineering & Electronic Resins and Materials segment rose 14.23% to Rs
6.73 crore (accounting for 10.41% of total PBIT).
PBIT
margin of Electrical Insulations segment rose from 13.78% to 16.99%. PBIT margin of Engineering & Electronic
Resins and Materials segment rose from 11.41% to 15.00%. Overall PBIT margin rose from 13.47% to
16.76%.
Provision
for interest fell 35.29% to Rs 0.22 crore.
Loan funds remained nil.
Inventories rose to Rs 52.68 crore as of 31 December 2020 from Rs 49.77
crore as of 31 December 2019. Sundry
debtors were higher at Rs 70.51 crore as of 31 December 2020 compared to Rs
61.09 crore as of 31 December 2019. Cash
and bank balance rose to Rs 26.62 crore as of 31 December 2020 from Rs 24.41
crore as of 31 December 2019.
Investments rose to Rs 217.72 crore as of 31 December 2020 from Rs
159.84 crore as of 31 December 2019 .
Provision
for depreciation rose 59.18% to Rs 11.7 crore.
Fixed assets increased to Rs 76.30 crore as of 31 December 2020 from Rs
71.20 crore as of 31 December 2019.
Intangible assets declined from Rs 49.33 crore to Rs 44.07 crore.
Profit
before tax grew 25.74% to Rs 80.21 crore.
Provision for tax was expense of Rs 18.45 crore, compared to Rs 14.23
crore. Effective tax rate was 23.00%
compared to 22.31%. Profit after tax rose 24.62% to Rs 61.76 crore.
Promoters’
stake was 75.00% as of 31 December 2020 compared to 75.00% as of 31 December
2019 .
Cash
flow from operating activities increased to Rs 79.40 crore for year ended
December 2020 from Rs 47.86 crore for year ended December 2019. Cash flow used in acquiring fixed assets
during the year ended December 2020 stood at Rs 25.65 crore, compared to Rs
48.54 crore during the year ended December 2019.
0n
March 6, 2019, the company was directed for closure of its operations in
Ankleshwar by the Gujarat Pollution Control Board (GPCB) due to a suspected
ground water contamination issue, The GPCB through its subsequent orders had
granted temporary revocation of the closure order. The company is representing
to the GPCB for a permanent revocation of the closure order and is expecting a
favourable repsonse.
The
stock trades at Rs 3657.
|
Elantas Beck India : Standalone Results
|
|
Particulars
|
2109 (03)
|
2009 (03)
|
Var.(%)
|
2109 (09)
|
2009 (09)
|
Var.(%)
|
2012 (12)
|
1912 (12)
|
Var.(%)
|
|
Net Sales
|
132.63
|
113.75
|
17
|
376.62
|
265.14
|
42
|
383.13
|
394.07
|
-3
|
|
OPM (%)
|
11.8
|
23.2
|
|
15.0
|
16.3
|
|
18.4
|
13.7
|
|
|
OP
|
15.61
|
26.42
|
-41
|
56.53
|
43.22
|
31
|
70.34
|
53.82
|
31
|
|
Other Inc.
|
5.47
|
3.66
|
49
|
12.24
|
16.15
|
-24
|
21.79
|
17.66
|
23
|
|
PBIDT
|
21.08
|
30.08
|
-30
|
68.77
|
59.37
|
16
|
92.13
|
71.48
|
29
|
|
Interest
|
0
|
0
|
|
0.25
|
0.22
|
|
0.22
|
0.34
|
-35
|
|
PBDT
|
21.08
|
30.08
|
-30
|
68.52
|
59.15
|
16
|
91.91
|
71.14
|
29
|
|
Depreciation
|
3.07
|
2.91
|
5
|
8.97
|
8.79
|
2
|
11.7
|
7.35
|
59
|
|
PBT before EO
|
18.01
|
27.17
|
-34
|
59.55
|
50.36
|
18
|
80.21
|
63.79
|
26
|
|
EO Income
|
9.51
|
0
|
|
9.51
|
0
|
|
0
|
0
|
-
|
|
PBT after EO
|
27.52
|
27.17
|
1
|
69.06
|
50.36
|
37
|
80.21
|
63.79
|
26
|
|
Taxation
|
7.94
|
6.01
|
32
|
18.77
|
11.14
|
68
|
18.45
|
14.23
|
30
|
|
PAT
|
19.58
|
21.16
|
-7
|
50.29
|
39.22
|
28
|
61.76
|
49.56
|
25
|
|
EPS (Rs)*
|
#
|
#
|
|
#
|
#
|
|
77.9
|
62.5
|
25
|
|
bps : Basis points
|
|
* EPS is on current equity of Rs 7.93 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
|
|
Elantas Beck India : Standalone Segment Results
|
|
|
% of (Total)
|
2109 (03)
|
2009 (03)
|
Var.(%)
|
% of (Total)
|
2109 (09)
|
2009 (09)
|
Var.(%)
|
% of (Total)
|
2012 (12)
|
1912 (12)
|
Var.(%)
|
|
Sales
|
|
|
|
|
|
Electrical Insulations
|
84
|
111.55
|
100.27
|
11
|
84
|
317.6
|
237.14
|
34
|
88
|
340.5
|
345.95
|
-2
|
|
Engineering & Electronic Resins and Materials
|
16
|
21.48
|
13.84
|
55
|
16
|
60.78
|
29.64
|
105
|
12
|
44.84
|
51.61
|
-13
|
|
Total Reported Sales
|
100
|
133.03
|
114.11
|
17
|
100
|
378.38
|
266.78
|
42
|
100
|
385.35
|
397.56
|
-3
|
|
Net Sales
|
|
133.03
|
114.11
|
17
|
|
378.38
|
266.78
|
42
|
|
385.35
|
397.56
|
-3
|
|
PBIT
|
|
|
|
|
|
Electrical Insulations
|
84
|
11.75
|
22.17
|
-47
|
83
|
43.54
|
35.44
|
23
|
90
|
57.87
|
47.66
|
21
|
|
Engineering & Electronic Resins and Materials
|
16
|
2.26
|
2.75
|
-18
|
17
|
8.64
|
3.7
|
133
|
10
|
6.73
|
5.89
|
14
|
|
Total PBIT
|
100
|
14
|
24.92
|
-44
|
100
|
52.19
|
39.15
|
33
|
100
|
64.59
|
53.55
|
21
|
|
Less : Interest
|
|
0
|
0
|
-
|
|
0.25
|
0.22
|
14
|
|
0.22
|
0.34
|
-35
|
|
Add: Other un-allcoable
|
|
4.01
|
2.25
|
78
|
|
7.6
|
11.43
|
-33
|
|
15.84
|
10.57
|
50
|
|
PBT
|
|
18.01
|
27.16
|
-34
|
|
59.54
|
50.35
|
18
|
|
80.21
|
63.79
|
26
|
|
|
|
|
Previous News |
Elantas Beck India standalone net profit rises 18.15% in the June 2024 quarter
(
Results
-
Announcements
07-Aug-24
07:33
)
|
|
|
Elantas Beck India to hold board meeting
(
Corporate News
-
13-Jul-17
14:49
)
|
|
|
Elantas Beck India to hold board meeting
(
Corporate News
-
25-Jul-24
10:22
)
|
|
|
Elantas Beck India
(
Results
-
Analysis
15-May-17
10:35
)
|
|
|
Elantas Beck India net profit rises 61.24% in the year ended December 2009
(
Results
-
Announcements
16-Feb-10
17:58
)
|
|
|
Elantas Beck India
(
Results
-
Analysis
11-May-16
10:00
)
|
|
|
Elantas Beck India
(
Results
-
Analysis
03-Nov-20
21:47
)
|
|
|
Elantas Beck India
(
Results
-
Analysis
08-May-24
07:48
)
|
|
|
Elantas Beck India net profit rises 62.14% in the September 2009 quarter
(
Results
-
Announcements
22-Oct-09
18:35
)
|
|
|
Elantas Beck India recommends dividend
(
Corporate News
-
16-Feb-10
17:50
)
|
|
|
Elantas Beck India standalone net profit rises 89.92% in the March 2018 quarter
(
Results
-
Announcements
11-May-18
16:55
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|