Operating profit margin has jumped from 5.54% to 7.17%, leading to 135.97% rise in operating profit to Rs 22.14 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 69.22% to 71.10%.   Employee cost decreased from 11.83% to 8.73%.   Other expenses fell from 13.47% to 12.70%.  

Other income fell 47.31% to Rs 1.05 crore.  PBIDT rose 103.94% to Rs 23.19 crore.  Provision for interest fell 17.41% to Rs 0.63 crore.  Loan funds declined from Rs 28.21 crore as of 30 September 2020 to Rs 26.40 crore as of 30 September 2021.  Inventories rose to Rs 192.94 crore as of 30 September 2021 from Rs 149.43 crore as of 30 September 2020.  Sundry debtors were higher at Rs 189.11 crore as of 30 September 2021 compared to Rs 95.56 crore as of 30 September 2020.  Cash and bank balance declined from Rs 116.10 crore as of 30 September 2020 to Rs 61.47 crore as of 30 September 2021.  

PBDT rose 112.61% to Rs 22.56 crore.  Provision for depreciation down 5.70% to Rs 8.62 crore.  Fixed assets declined from Rs 280.15 crore as of 30 September 2020 to Rs 275.96 crore as of 30 September 2021.  Intangible assets declined from Rs 0.47 crore to Rs 0.38 crore.  

Profit before tax grew 847.15% to Rs 13.94 crore.  Provision for tax was debit of Rs 3.8 crore, compared to credit of Rs 4.55 crore.  Effective tax rate was 27.26% compared to negative 309.52%.

Profit after tax rose 68.43% to Rs 10.14 crore.  

Equity capital stood at Rs 15.11 crore as of 30 September 2021 to Rs 15.11 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 71.04% as of 30 September 2021 ,compared to 71.04% as of 30 September 2020 .  

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Automotive Axles has increased 171.06% to Rs 563.94 crore.  

Operating profit margin (OPM) has turned from negative 2.11% to positive 6.69%, Operating profit for the quarter stood at Rs 37.71 crore compared to loss of Rs 4.39 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 67.24% to 71.12%.   Employee cost decreased from 18.63% to 9.16%.   Other expenses fell from 16.27% to 13.00%.   

Other income fell 49.37% to Rs 2.14 crore.  PBIDT stood at Rs 39.85 crore compared to loss of Rs 0.16 crore.  Provision for interest fell 16.46% to Rs 1.3 crore.  Loan funds declined from Rs 28.21 crore as of 30 September 2020 to Rs 26.40 crore as of 30 September 2021.  Inventories rose to Rs 192.94 crore as of 30 September 2021 from Rs 149.43 crore as of 30 September 2020.  Sundry debtors were higher at Rs 189.11 crore as of 30 September 2021 compared to Rs 95.56 crore as of 30 September 2020.  Cash and bank balance declined from Rs 116.10 crore as of 30 September 2020 to Rs 61.47 crore as of 30 September 2021.  

PBDT stood at Rs 38.55 crore compared to loss of Rs 1.72 crore.  Provision for depreciation down 5.42% to Rs 16.84 crore.  Fixed assets declined from Rs 280.15 crore as of 30 September 2020 to Rs 275.96 crore as of 30 September 2021.  Intangible assets declined from Rs 0.47 crore to Rs 0.38 crore.  

Profit before tax reported profit of Rs 21.71 crore compared to loss of Rs 19.52 crore.  Provision for tax was debit of Rs 6 crore, compared to credit of Rs 6.27 crore.  Effective tax rate was 27.64% compared to 26.92%.

Profit after tax reported profit of Rs 15.71 crore compared to loss of Rs 17.02 crore.  

Equity capital stood at Rs 15.11 crore as of 30 September 2021 to Rs 15.11 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 71.04% as of 30 September 2021 ,compared to 71.04% as of 30 September 2020 .  

Cash flow from operating activities decreased to Rs 19.07 crore for YTD ended September 2021 from Rs 61.32 crore for YTD ended September 2020.  Cash flow used in acquiring fixed assets during the YTD ended September 2021 stood at Rs 19.92 crore, compared to Rs 17.91 crore during the YTD ended September 2020.  

Full year results analysis

Net sales (including other operating income) of Automotive Axles has declined 4.87% to Rs 905.57 crore.  

Operating profit margin has declined from 9.80% to 7.27%, leading to 29.42% decline in operating profit to Rs 65.84 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 67.16% to 70.66%.   Employee cost decreased from 9.55% to 9.43%.   Other expenses fell from 13.29% to 12.92%.   

Other income fell 8.42% to Rs 7.07 crore.  PBIDT fell 27.81% to Rs 72.91 crore.  Provision for interest up 64.09% to Rs 2.97 crore.  Loan funds declined from Rs 31.15 crore as of 31 March 2020 to Rs 29.49 crore as of 31 March 2021.  Inventories rose to Rs 200.57 crore as of 31 March 2021 from Rs 156.00 crore as of 31 March 2020.  Sundry debtors were higher at Rs 282.00 crore as of 31 March 2021 compared to Rs 122.73 crore as of 31 March 2020.  Cash and bank balance declined from Rs 74.01 crore as of 31 March 2020 to Rs 72.88 crore as of 31 March 2021.  

PBDT fell 29.49% to Rs 69.94 crore.  Provision for depreciation down 3.28% to Rs 36 crore.  Fixed assets declined from Rs 278.82 crore as of 31 March 2020 to Rs 277.19 crore as of 31 March 2021.  Intangible assets declined from Rs 0.61 crore to Rs 0.44 crore.  

Profit before tax down 45.24% to Rs 33.94 crore.  Extraordinary items were decreased to Rs -3.77 crore.  Provision for tax was expense of Rs 7.44 crore, compared to Rs 18.82 crore.  Effective tax rate was 24.66% compared to 31.39%.

Profit after tax fell 44.75% to Rs 22.73 crore.  

Equity capital stood at Rs 15.11 crore as of 30 September 2021 to Rs 15.11 crore as of 30 September 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 71.04% as of 31 March 2021 ,compared to 71.04% as of 31 March 2020 .  

Cash flow from operating activities decreased to Rs 48.69 crore for year ended March 2021 from Rs 197.80 crore for year ended March 2020.  Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 34.77 crore, compared to Rs 62.94 crore during the year ended March 2020.