For the
quarter ending March 2022, Standalone net sales (including other operating income) of Igarashi Motors India has declined 18.23% to Rs 137.82 crore compared to quarter ended march 2021.
Operating profit margin has declined from 15.82% to 5.88%, leading to 69.58% decline in operating profit to Rs 8.11 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.32% to 67.78%. Employee cost increased from 6.81% to 9.90%. Other expenses rose from 15.83% to 16.25%. Other income fell 77.45% to Rs 0.46 crore. PBIDT fell 70.14% to Rs 8.57 crore. Provision for interest fell 20.57% to Rs 1.66 crore. Loan funds rose to Rs 100.31 crore as of 31 March 2022 from Rs 95.12 crore as of 31 March 2021. Inventories declined from Rs 101.16 crore as of 31 March 2021 to Rs 81.96 crore as of 31 March 2022. Sundry debtors were lower at Rs 134.71 crore as of 31 March 2022 compared to Rs 167.08 crore as of 31 March 2021. Cash and bank balance declined from Rs 13.48 crore as of 31 March 2021 to Rs 6.63 crore as of 31 March 2022. Investments rose to Rs 20.87 crore as of 31 March 2022 from Rs 0.90 crore as of 31 March 2021 . PBDT fell 74.03% to Rs 6.91 crore. Provision for depreciation down 1.16% to Rs 11.11 crore. Fixed assets increased to Rs 379.34 crore as of 31 March 2022 from Rs 366.96 crore as of 31 March 2021. Intangible assets declined from Rs 12.12 crore to Rs 9.39 crore. Loss before tax stood at Rs 4.20 crore compared to profit of Rs 15.37 crore. Provision for tax was credit of Rs 0.92 crore, compared to debit of Rs 4.39 crore. Effective tax rate was 21.90% compared to 28.56%. Loss after tax stood at Rs 3.28 crore compared to profit of Rs 10.98 crore. Equity capital stood at Rs 31.48 crore as of 31 March 2022 to Rs 31.48 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 .
Full year results analysis
Net sales (including other operating income) of Igarashi Motors India has increased 4.42% to Rs 556.40 crore. Operating profit margin has declined from 13.84% to 8.34%, leading to 37.10% decline in operating profit to Rs 46.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 60.08% to 65.83%. Employee cost increased from 8.67% to 8.98%. Other expenses fell from 17.40% to 16.77%. Other income fell 27.36% to Rs 6.93 crore. PBIDT fell 35.99% to Rs 53.33 crore. Provision for interest up 5.99% to Rs 6.55 crore. Loan funds rose to Rs 100.31 crore as of 31 March 2022 from Rs 95.12 crore as of 31 March 2021. Inventories declined from Rs 101.16 crore as of 31 March 2021 to Rs 81.96 crore as of 31 March 2022. Sundry debtors were lower at Rs 134.71 crore as of 31 March 2022 compared to Rs 167.08 crore as of 31 March 2021. Cash and bank balance declined from Rs 13.48 crore as of 31 March 2021 to Rs 6.63 crore as of 31 March 2022. Investments rose to Rs 20.87 crore as of 31 March 2022 from Rs 0.90 crore as of 31 March 2021 . PBDT fell 39.35% to Rs 46.78 crore. Provision for depreciation down 0.47% to Rs 44.47 crore. Fixed assets increased to Rs 379.34 crore as of 31 March 2022 from Rs 366.96 crore as of 31 March 2021. Intangible assets declined from Rs 12.12 crore to Rs 9.39 crore. Profit before tax down 92.88% to Rs 2.31 crore. Provision for tax was expense of Rs 1.12 crore, compared to Rs 6.83 crore. Effective tax rate was 48.48% compared to 21.05%. Profit after tax fell 95.36% to Rs 1.19 crore. Equity capital stood at Rs 31.48 crore as of 31 March 2022 to Rs 31.48 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00. Promoters’ stake was 75.00% as of 31 March 2022 ,compared to 75.00% as of 31 March 2021 .
| Igarashi Motors India : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 137.82 | 168.55 | -18.23 | 556.40 | 532.86 | 4.42 | | OPM (%) | 5.88 | 15.82 | -993 bps | 8.34 | 13.84 | -550 bps | | OP | 8.11 | 26.66 | -69.58 | 46.40 | 73.77 | -37.10 | | Other Inc. | 0.46 | 2.04 | -77.45 | 6.93 | 9.54 | -27.36 | | PBIDT | 8.57 | 28.70 | -70.14 | 53.33 | 83.31 | -35.99 | | Interest | 1.66 | 2.09 | -20.57 | 6.55 | 6.18 | 5.99 | | PBDT | 6.91 | 26.61 | -74.03 | 46.78 | 77.13 | -39.35 | | Depreciation | 11.11 | 11.24 | -1.16 | 44.47 | 44.68 | -0.47 | | PBT | -4.20 | 15.37 | PL | 2.31 | 32.45 | -92.88 | | PBT before EO | -4.2 | 15.37 | PL | 2.31 | 32.45 | -92.88 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | -4.2 | 15.37 | PL | 2.31 | 32.45 | -92.88 | | Taxation | -0.92 | 4.39 | LP | 1.12 | 6.83 | -83.60 | | PAT | -3.28 | 10.98 | PL | 1.19 | 25.62 | -95.36 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | -3.28 | 10.98 | PL | 1.19 | 25.62 | -95.36 | | EPS (Rs)* | -1.04 | 3.49 | PL | 0.38 | 8.14 | -95.36 | | | * EPS is on current equity of Rs 31.48 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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