For the
quarter ending Dec 2021, consolidated net sales (including other operating income) of Sona BLW Precision Forgings has increased 0.99% to Rs 494.15 crore compared to quarter ended Dec 2020. Operating profit margin has declined from 29.99% to 26.42%, leading to 11.03% decline in operating profit to Rs 130.54 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 45.10% to 44.46%. Employee cost decreased from 8.37% to 8.25%. Other expenses rose from 19.00% to 21.76%. Other income rose 12,500% to Rs 5.04 crore. PBIDT fell 7.62% to Rs 135.58 crore. Provision for interest fell 54.89% to Rs 3.32 crore.
PBDT fell 5.12% to Rs 132.26 crore. Provision for depreciation rose 48.67% to Rs 35.68 crore.
Profit before tax down 16.31% to Rs 96.58 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 10.14 crore, compared to Rs 31.91 crore. Effective tax rate was 10.50% compared to 27.65%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 3.53% to Rs 86.44 crore. Promoters' stake was 67.18% as of 31 December 2021
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 53.91% to Rs 1580.63 crore.
Operating profit margin has declined from 29.30% to 26.81%, leading to 40.80% rise in operating profit to Rs 423.73 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.44% to 45.48%. Employee cost decreased from 9.37% to 7.97%. Other expenses rose from 19.42% to 20.36%. Other income rose 169.34% to Rs 5.71 crore. PBIDT rose 41.70% to Rs 429.44 crore. Provision for interest fell 36.08% to Rs 14.79 crore.
PBDT rose 48.13% to Rs 414.65 crore. Provision for depreciation rose 51.92% to Rs 104.61 crore.
Profit before tax grew 46.90% to Rs 310.04 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 66.43 crore, compared to Rs 55.52 crore. Effective tax rate was 20.55% compared to 26.31%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 65.15% to Rs 256.88 crore.
Promoters' stake was 67.18% as of 31 December 2021
Full year results analysis.
Net sales (including other operating income) of Sona BLW Precision Forgings has increased 50.90% to Rs 1566.3 crore. Operating profit margin has jumped from 23.34% to 28.16%, leading to 82.03% rise in operating profit to Rs 441.03 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 42.75% to 43.51%. Employee cost decreased from 9.93% to 9.04%. Other expenses fell from 23.91% to 20.39%. Other income fell 59.52% to Rs 2.34 crore. PBIDT rose 78.73% to Rs 443.37 crore. Provision for interest rose 25.17% to Rs 32.52 crore. Loan funds remained nil.
PBDT rose 84.99% to Rs 410.85 crore. Provision for depreciation rose 44.43% to Rs 96.94 crore.
Profit before tax grew 102.56% to Rs 313.91 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 84.83 crore, compared to Rs 26.68 crore. Effective tax rate was 28.28% compared to 6.89%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 40.29% to Rs 215.17 crore.
Cash flow from operating activities decreased to Rs 142.73 crore for year ended March 2021 from Rs 253.34 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 218.94 crore, compared to Rs 212.06 crore during the year ended March 2020.
Other Highlights
The Board of
Directors approved and declared an interim dividend of Rs 0.77 per equity share
of the Company having face value of Rs 10 each for the financial year 2021-22.
Board has fixed Monday, 14 February, 2022, as the "Record Date" for
the purpose of ascertaining the eligibility of shareholders for the payment of
interim dividend.At the end
of Q3 FY22, Company's net order book stands at Rs 176 billion (approx Rs 17600
crore) which is 11.2x times its FY21 revenue. Out of the total orders 66.4% are
EV related and 33.6% are Non EV related orders.Company's ICE
dependence continues to reduce steadily going from 25.1% in FY21 to 18.8% in 9M
FY22. Its Battery EV share increased from 14% in FY21 to 23% in 9M FY22 and 29%
in Q3 FY22.In 9M FY22,
Europe contributed 24% of total revenue, North America 31%, India 24%, Asia 20%
and 1% ROW.