- Sales of Consultancy & Engineering Projects segment has gone up 1.29% to Rs 371.78 crore (accounting for 53.72% of total sales). Sales of Turnkey Projects segment has gone down 33.05% to Rs 320.33 crore (accounting for 46.28% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has slumped 2.57% to Rs 97.55 crore. PBIT of Consultancy & Engineering Projects segment fell 3.10% to Rs 90.70 crore (accounting for 92.98% of total PBIT). PBIT of Turnkey Projects segment rose 5.16% to Rs 6.84 crore (accounting for 7.02% of total PBIT).
- PBIT margin of Consultancy & Engineering Projects segment fell from 25.50% to 24.40%. PBIT margin of Turnkey Projects segment rose from 1.36% to 2.14%. Overall PBIT margin rose from 11.84% to 14.09%.
Nine month performance
Consolidated net sales for nine month ended Dec 2021 has increased 4.11% to Rs 2094.98 crore. Sales of Consultancy Engineering Projects segment has gone up 10.58% to Rs 1,109.05 crore (accounting for 52.94% of total sales). Sales of Turnkey Projects segment has gone down 2.32% to Rs 985.93 crore (accounting for 47.06% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 30.53% to Rs 320.84 crore. PBIT of Consultancy Engineering Projects segment rose 28.20% to Rs 294.91 crore (accounting for 91.92% of total PBIT). PBIT of Turnkey Projects segment rose 64.53% to Rs 25.93 crore (accounting for 8.08% of total PBIT).
PBIT margin of Consultancy Engineering Projects segment rose from 22.94% to 26.59%. PBIT margin of Turnkey Projects segment rose from 1.56% to 2.63%. Overall PBIT margin rose from 12.22% to 15.31%.
Operating profit margin has jumped from 8.89% to 11.20%, leading to 31.19% rise in operating profit to Rs 234.60 crore. Employee cost increased from 32.51% to 33.44%. Other expenses fell from 58.60% to 55.36%. Selling and administration expenses rose from 11.08% to 11.33%. Construction development cost rose from 11.08% to 11.33%. Contract job process charges fell from 37.52% to 34.18%.
Other income fell 41.62% to Rs 86.94 crore. PBIDT fell 1.89% to Rs 321.54 crore. Provision for interest fell 42.75% to Rs 0.75 crore.
PBDT fell 1.73% to Rs 320.79 crore. Provision for depreciation rose 10.65% to Rs 18.28 crore.
Profit before tax down 2.39% to Rs 302.51 crore. Share of profit/loss was 2,543.56% lower at Rs -160.2 crore. Provision for tax was expense of Rs 81.92 crore, compared to Rs 79.88 crore. Effective tax rate was 57.56% compared to 26.29%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 73.04% to Rs 60.39 crore.
Other developments
The Board of Directors have declared an interim dividend of Rs 2/- per share (Face Value ( 5 per Share) for the financial year 2021-22 in their meeting held on 9th February 2022.
Promoters’ stake was 51.32% as of 31 December 2021 ,compared to 51.50% as of 31 December 2020 .