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Results
17-May-22
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Analysis
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MPS
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PAT up 48.8% YoY to Rs 87.1 cr in FY2022
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On consolidated basis
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of MPS has declined 4.24% to Rs
109.41 crore. Sales of Content Solutions segment has gone down 0.74%
to Rs 60.09 crore (accounting for 54.92% of total sales). Sales of
Platform Solutions segment has gone down 20.73% to Rs 28.68 crore (accounting
for 26.21% of total sales). Sales of eLearning Solutions segment has
gone up 17.74% to Rs 20.64 crore (accounting for 18.86% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 20.92% to Rs 33.47
crore. PBIT of Content Solutions segment rose 0.92% to Rs 18.60
crore (accounting for 55.57% of total PBIT). PBIT of Platform
Solutions segment rose 0.29% to Rs 10.32 crore (accounting for 30.83% of total
PBIT). PBIT of eLearning Solutions reported profit of Rs 4.55 crore
compared to loss of Rs 1.04 crore.
PBIT margin of Content Solutions
segment rose from 30.44% to 30.95%. PBIT margin of Platform
Solutions segment rose from 28.44% to 35.98%. PBIT margin of
eLearning Solutions segment rose from negative 5.93% to
22.04%. Overall PBIT margin rose from 24.23% to 30.59%.
Operating profit margin has jumped
from 25.01% to 28.78%, leading to 10.22% rise in operating profit to Rs 31.49
crore. Employee cost decreased from 46.57% to 43.29%.
Other expenses fell from 28.42% to 27.93%.
Other income rose 95.28% to Rs 4.14
crore. PBIDT rose 16.10% to Rs 35.63 crore. Provision for
interest fell 28.57% to Rs 0.45 crore. Loan funds declined from Rs
18.35 crore as of 31 March 2021 to Rs 11.98 crore as of 31 March
2022. Sundry debtors were lower at Rs 85.70 crore as of 31 March
2022 compared to Rs 90.54 crore as of 31 March 2021. Cash and bank
balance rose to Rs 132.83 crore as of 31 March 2022 from Rs 102.63 crore as of
31 March 2021. Investments declined from Rs 12.15 crore as of 31
March 2021 to Rs 5.85 crore as of 31 March 2022.
PBDT rose 17.03% to Rs 35.18
crore. Provision for depreciation fell 14.52% to Rs 4.77 crore. Fixed
assets declined from Rs 69.06 crore as of 31 March 2021 to Rs 56.20 crore as of
31 March 2022. Intangible assets increased from Rs 85.29 crore to Rs
87.00 crore.
Profit before tax grew 24.22% to Rs
30.41 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 8.35 crore, compared to
Rs 11.59 crore. Effective tax rate was 27.46% compared to 47.34%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 71.14% to Rs 22.06 crore.
Equity capital decreased from Rs
18.05 crore as of 31 March 2021 to Rs 17.11 crore as of 31 March 2022
. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 68.34% as of 31
March 2022 ,compared to 67.99% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of MPS has increased 6.23% to Rs
448.88 crore. Sales of Content Solutions segment has gone up 8.15%
to Rs 242.20 crore (accounting for 53.96% of total sales). Sales of
Platform Solutions segment has gone down 1.94% to Rs 123.34 crore (accounting
for 27.48% of total sales). Sales of eLearning Solutions segment has
gone up 14.43% to Rs 83.34 crore (accounting for 18.57% of total
sales).
Profit before interest, tax and
other unallocable items (PBIT) has jumped 20.00% to Rs 128.72
crore. PBIT of Content Solutions segment rose 6.03% to Rs 76.65
crore (accounting for 59.55% of total PBIT). PBIT of Platform
Solutions segment rose 2.73% to Rs 40.64 crore (accounting for 31.57% of total
PBIT). PBIT of eLearning Solutions reported profit of Rs 11.43 crore
compared to loss of Rs 4.58 crore.
PBIT margin of Content Solutions
segment fell from 32.28% to 31.65%. PBIT margin of Platform
Solutions segment rose from 31.45% to 32.95%. PBIT margin of
eLearning Solutions segment rose from negative 6.29% to
13.71%. Overall PBIT margin rose from 25.39% to 28.68%.
Operating profit margin has jumped
from 25.27% to 28.07%, leading to 18.01% rise in operating profit to Rs 126.01 crore. Employee
cost decreased from 47.93% to 44.94%. Other expenses rose from
26.80% to 26.98%.
Other income rose 42.76% to Rs 14.09
crore. PBIDT rose 20.10% to Rs 140.1 crore. Provision for
interest fell 24.51% to Rs 1.54 crore. Loan funds declined from Rs
18.35 crore as of 31 March 2021 to Rs 11.98 crore as of 31 March
2022. Sundry debtors were lower at Rs 85.70 crore as of 31 March
2022 compared to Rs 90.54 crore as of 31 March 2021. Cash and bank
balance rose to Rs 132.83 crore as of 31 March 2022 from Rs 102.63 crore as of
31 March 2021. Investments declined from Rs 12.15 crore as of 31
March 2021 to Rs 5.85 crore as of 31 March 2022.
PBDT rose 20.90% to Rs 138.56
crore. Provision for depreciation fell 2.92% to Rs 20.6
crore. Fixed assets declined from Rs 69.06 crore as of 31 March 2021
to Rs 56.20 crore as of 31 March 2022. Intangible assets increased
from Rs 85.29 crore to Rs 87.00 crore.
Profit before tax grew 26.31% to Rs
117.96 crore. Share of profit/loss were nil in both the periods. Provision
for tax was expense of Rs 30.84 crore, compared to Rs 34.83
crore. Effective tax rate was 26.14% compared to 37.30%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 48.77% to Rs 87.12 crore.
Equity capital decreased from Rs
18.05 crore as of 31 March 2021 to Rs 17.11 crore as of 31 March 2022
. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 68.34% as of 31
March 2022 ,compared to 67.99% as of 31 March 2021 .
Cash flow from operating activities
increased to Rs 114.32 crore for year ended March 2022 from Rs 99.37 crore for
year ended March 2021. Cash flow used in acquiring fixed assets
during the year ended March 2022 stood at Rs 4.39 crore, compared to Rs 6.74
crore during the year ended March 2021.
| MPS : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 109.41 | 114.25 | -4.24 | 448.88 | 422.55 | 6.23 | | OPM (%) | 28.78 | 25.01 | 378 bps | 28.07 | 25.27 | 280 bps | | OP | 31.49 | 28.57 | 10.22 | 126.01 | 106.78 | 18.01 | | Other Inc. | 4.14 | 2.12 | 95.28 | 14.09 | 9.87 | 42.76 | | PBIDT | 35.63 | 30.69 | 16.10 | 140.10 | 116.65 | 20.10 | | Interest | 0.45 | 0.63 | -28.57 | 1.54 | 2.04 | -24.51 | | PBDT | 35.18 | 30.06 | 17.03 | 138.56 | 114.61 | 20.90 | | Depreciation | 4.77 | 5.58 | -14.52 | 20.6 | 21.22 | -2.92 | | PBT | 30.41 | 24.48 | 24.22 | 117.96 | 93.39 | 26.31 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 30.41 | 24.48 | 24.22 | 117.96 | 93.39 | 26.31 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 30.41 | 24.48 | 24.22 | 117.96 | 93.39 | 26.31 | | Taxation | 8.35 | 11.59 | -27.96 | 30.84 | 34.83 | -11.46 | | PAT | 22.06 | 12.89 | 71.14 | 87.12 | 58.56 | 48.77 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 22.06 | 12.89 | 71.14 | 87.12 | 58.56 | 48.77 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 22.06 | 12.89 | 71.14 | 87.12 | 58.56 | 48.77 | | EPS (Rs)* | 12.90 | 7.54 | 71.14 | 50.93 | 34.23 | 48.77 | | | * EPS is on current equity of Rs 17.11 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 |
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| MPS : Consolidated Segment Results | | | Quarter ended | Year ended |
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| % of (Total) | 202203 | 202103 | Var.(%) | % of (Total) | 202203 | 202103 | Var.(%) |
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| Sales | | Content Solutions | 54.92 | 60.09 | 60.54 | -0.74 | 53.96 | 242.20 | 223.94 | 8.15 | | Platform Solutions | 26.21 | 28.68 | 36.18 | -20.73 | 27.48 | 123.34 | 125.78 | -1.94 | | eLearning Solutions | 18.86 | 20.64 | 17.53 | 17.74 | 18.57 | 83.34 | 72.83 | 14.43 | | Total Reported Sales | 100.00 | 109.41 | 114.25 | -4.24 | 100.00 | 448.88 | 422.55 | 6.23 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 109.41 | 114.25 | -4.24 | 100.00 | 448.88 | 422.55 | 6.23 | | PBIT | | Content Solutions | 55.57 | 18.60 | 18.43 | 0.92 | 59.55 | 76.65 | 72.29 | 6.03 | | Platform Solutions | 30.83 | 10.32 | 10.29 | 0.29 | 31.57 | 40.64 | 39.56 | 2.73 | | eLearning Solutions | 13.59 | 4.55 | -1.04 | LP | 8.88 | 11.43 | -4.58 | LP | | Total PBIT | 100.00 | 33.47 | 27.68 | 20.92 | 100.00 | 128.72 | 107.27 | 20.00 | | Less : Interest | | 0.45 | 0.63 | -28.57 | | 1.54 | 2.04 | -24.51 | | Add: Other un-allcoable | | -2.61 | -2.57 | -1.56 | | -9.22 | -11.84 | 22.13 | | PBIT Margin(%) | | Content Solutions | | 30.95 | 30.44 | 51.09 | | 31.65 | 32.28 | -63.36 | | Platform Solutions | | 35.98 | 28.44 | 754.21 | | 32.95 | 31.45 | 149.78 | | eLearning Solutions | | 22.04 | -5.93 | 2,797.73 | | 13.71 | -6.29 | 2,000.35 | | PBT | 100.00 | 30.41 | 24.48 | 24.22 | 100.00 | 117.96 | 93.39 | 26.31 |
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