EPL consolidated net
sales increased 4.09% to Rs 831.8 crore in Q1FY23 compared to Q1FY22. Sales of AMESA segment has gone up 13.41% to
Rs 319.70 crore (accounting for 35.25% of total sales). Sales of EAP segment has gone down 6.41% to
Rs 192.80 crore (accounting for 21.26% of total sales). Sales of AMERICAS segment rose 20.38% to Rs
197.30 crore (accounting for 21.75% of total sales). Sales of EUROPE segment has gone up 10.54% to
Rs 197.20 crore (accounting for 21.74% of total sales). Inter-segment sales rose Rs 31.40 crore to Rs
75.50 crore.
Profit before
interest, tax and other unallocable items (PBIT) has slumped 20.48% to Rs 69.50
crore. PBIT of AMESA segment fell 0.64%
to Rs 30.90 crore (accounting for 44.46% of total PBIT). PBIT of EAP segment fell 28.41% to Rs 24.70
crore (accounting for 35.54% of total PBIT).
PBIT of AMERICAS segment fell 11.76% to Rs 10.50 crore (accounting for
15.11% of total PBIT). PBIT of EUROPE
segment fell 65.66% to Rs 3.40 crore (accounting for 4.89% of total PBIT).
PBIT margin of AMESA
segment fell from 11.03% to 9.67%. PBIT
margin of EAP segment fell from 16.75% to 12.81%. PBIT margin of AMERICAS segment fell from
7.26% to 5.32%. PBIT margin of EUROPE
segment fell from 5.55% to 1.72%.
Overall PBIT margin fell from 10.53% to 7.66%.
Operating profit margin
has declined from 18.13% to 15.10%, leading to 13.32% decline in operating
profit to Rs 125.60 crore. Raw material
cost as a % of total sales (net of stock adjustments) increased from 43.59% to
45.47%. Employee cost increased from
19.01% to 19.34%. Other expenses rose
from 19.71% to 20.50%.
Other income fell
20.75% to Rs 4.2 crore. PBIDT fell
13.58% to Rs 129.8 crore. Provision for
interest rose 37.08% to Rs 12.2 crore.
PBDT fell 16.77% to
Rs 117.6 crore. Provision for
depreciation rose 5.33% to Rs 65.2 crore.
Profit before tax
down 34.01% to Rs 52.40 crore. Share of
profit/loss was 633.33% lower at Rs -2.2 crore. PBT before EO was down 37% to
Rs 50.2 crore. The company reported EO expense of Rs 1.1 crore compared to nil in
the corresponding previous year period. PBT after EO was down 38% to Rs 49.1
crore. Tubopack de Colombia S.A.S, a wholly owned step down subsidiary
registered in Colombia (which was under liquidation) has completed its voluntary
dissolution process on 30 June 2022. Exceptional loss of Rs. 1.1 crore for the
quarter ended 30 June 2022 represents exchange difference arising on t
ranslation of foreign operations of the above subsidiary
Provision for tax was
expense of Rs 14.1 crore, compared to Rs 18.9 crore. Effective tax rate was 28.72% compared to
23.89%.
Minority interest
decreased 30.43% to Rs 1.60 crore. Net profit attributable to owners of the
company decreased 42.31% to Rs 33.40 crore.
Promoters’ stake was
51.91% as of 30 June 2022 compared to 51.96% as of 30 June 2021 .
Full year results analysis
Net sales of EPL have
increased 11.04% to Rs 3432.8 crore.
Sales of AMESA segment has gone up 23.40% to Rs 1,225.90 crore
(accounting for 34.31% of total sales).
Sales of EAP segment has gone up 10.31% to Rs 862.60 crore (accounting
for 24.14% of total sales). Sales of
AMERICAS segment rose 12.90% to Rs 736.20 crore (accounting for 20.60% of total
sales). Sales of EUROPE segment has gone
down 2.63% to Rs 748.40 crore (accounting for 20.95% of total sales). Inter-segment sales rose Rs 105.70 crore to
Rs 141.40 crore.
Operating profit
margin has declined from 19.77% to 16.78%, leading to 5.73% decline in
operating profit to Rs 576.10 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
41.75% to 45.12%. Employee cost
decreased from 19.64% to 18.63%. Other
expenses rose from 18.81% to 19.75%.
Other income fell
17.24% to Rs 12 crore. PBIDT fell 5.99%
to Rs 588.1 crore. Provision for
interest fell 6.06% to Rs 40.3 crore.
Loan funds rose to Rs 767.10 crore as of 31 March 2022 from Rs 642.30
crore as of 31 March 2021. Inventories
rose to Rs 594.10 crore as of 31 March 2022 from Rs 414.90 crore as of 31 March
2021. Sundry debtors were higher at Rs
636.70 crore as of 31 March 2022 compared to Rs 589.10 crore as of 31 March
2021. Cash and bank balance declined
from Rs 241.40 crore as of 31 March 2021 to Rs 192.70 crore as of 31 March
2022. Investments declined from Rs 14.90
crore as of 31 March 2021 to Rs 7.20 crore as of 31 March 2022.
PBDT fell 5.99% to Rs
547.8 crore. Provision for depreciation
rose 7.16% to Rs 251.4 crore. Fixed
assets increased to Rs 1,453.10 crore as of 31 March 2022 from Rs 1,383.60 crore
as of 31 March 2021. Intangible assets
declined from Rs 174.90 crore to Rs 166.90 crore.
Profit before
interest, tax and other unallocable items (PBIT) has slumped 12.95% to Rs
335.50 crore. PBIT of AMESA segment rose
19.39% to Rs 129.30 crore (accounting for 38.54% of total PBIT). PBIT of EAP segment fell 10.95% to Rs 127.70
crore (accounting for 38.06% of total PBIT).
PBIT of AMERICAS segment fell 25.70% to Rs 52.90 crore (accounting for
15.77% of total PBIT). PBIT of EUROPE
segment fell 59.04% to Rs 25.60 crore (accounting for 7.63% of total
PBIT).
PBIT margin of AMESA
segment fell from 10.90% to 10.55%. PBIT
margin of EAP segment fell from 18.34% to 14.80%. PBIT margin of AMERICAS segment fell from
10.92% to 7.19%. PBIT margin of EUROPE
segment fell from 8.13% to 3.42%.
Overall PBIT margin fell from 12.06% to 9.39%.
Profit before tax
down 14.85% to Rs 296.40 crore. Share of
profit/loss was 744.44% lower at Rs -7.6 crore.
Provision for tax was expense of Rs 67.5 crore, compared to Rs 86.8 crore. Effective tax rate was 23.37% compared to
26.22%.
Minority interest
increased 32.69% to Rs 6.90 crore. Net
profit attributable to owners of the company decreased 10.33% to Rs 214.40
crore.
Equity capital
increased from Rs 63.10 crore as of 31 March 2021 to Rs 63.20 crore as of 31
March 2022. Per share face Value
remained same at Rs 2.00.
Promoters’ stake was
51.91% as of 31 March 2022 ,compared to 51.96% as of 31 March 2021 .
Cash flow from
operating activities decreased to Rs 311.70 crore for year ended March 2022
from Rs 522.40 crore for year ended March 2021.
Cash flow used in acquiring fixed assets during the year ended March
2022 stood at Rs 275.50 crore, compared to Rs 176.00 crore during the year
ended March 2021.
The scrip is
currently trading at Rs 183
EPL : Consolidated Results
|
Particulars
|
2206
(03)
|
2106
(03)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
Net
Sales
|
831.8
|
799.1
|
4
|
3,432.80
|
3,091.60
|
11
|
OPM
(%)
|
15.1
|
18.1
|
|
16.8
|
19.8
|
|
OP
|
125.6
|
144.9
|
-13
|
576.1
|
611.1
|
-6
|
Other
Inc.
|
4.2
|
5.3
|
-21
|
12
|
14.5
|
-17
|
PBIDT
|
129.8
|
150.2
|
-14
|
588.1
|
625.6
|
-6
|
Interest
|
12.2
|
8.9
|
37
|
40.3
|
42.9
|
-6
|
PBDT
|
117.6
|
141.3
|
-17
|
547.8
|
582.7
|
-6
|
Depreciation
|
65.2
|
61.9
|
5
|
251.4
|
234.6
|
7
|
PBT
|
52.4
|
79.4
|
-34
|
296.4
|
348.1
|
-15
|
Share
of Profit/(Loss) from Associates
|
-2.2
|
-0.3
|
633
|
-7.6
|
-0.9
|
744
|
PBT
before EO
|
50.2
|
79.1
|
-37
|
288.8
|
347.2
|
-17
|
EO
Income
|
-1.1
|
0
|
|
0
|
-16.1
|
-100
|
PBT
after EO
|
49.1
|
79.1
|
-38
|
288.8
|
331.1
|
-13
|
Taxation
|
14.1
|
18.9
|
-25
|
67.50
|
86.80
|
-22
|
PAT
|
35
|
60.2
|
-42
|
221.3
|
244.3
|
-9
|
PPA
|
0
|
0
|
|
0.00
|
0.00
|
|
PAT after PPA
|
35
|
60.2
|
-42
|
221.3
|
244.3
|
-9
|
Minority
Interest (MI)
|
1.6
|
2.3
|
-30
|
6.9
|
5.2
|
33
|
Net
profit
|
33.4
|
57.9
|
-42
|
214.4
|
239.1
|
-10
|
EPS
(Rs)*
|
#
|
#
|
|
6.8
|
7.9
|
|
Notes
|
*
EPS is on current equity of Rs 63.17 crore, Face value of Rs 2, Excluding
extraordinary items.
|
#
EPS is not annualised
|
bps
: Basis points
|
EO
: Extraordinary items
|
Figures
in Rs crore
|
Source:
Capitaline Corporate Database
|
EPL : Consolidated Segment Results
|
|
%
of (Total)
|
2206
(03)
|
2106
(03)
|
Var.(%)
|
%
of (Total)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
Sales
|
AMESA
|
35
|
319.7
|
281.9
|
13
|
34
|
1,225.90
|
993.4
|
23
|
EAP
|
21
|
192.8
|
206
|
-6
|
24
|
862.6
|
782
|
10
|
AMERICAS
|
22
|
197.3
|
163.9
|
20
|
21
|
736.2
|
652.1
|
13
|
EUROPE
|
22
|
197.2
|
178.4
|
11
|
21
|
748.4
|
768.6
|
-3
|
Total
Reported Sales
|
100
|
907
|
830.2
|
9
|
100
|
3,573.10
|
3,196.10
|
12
|
Less:
Inter segment revenues
|
|
75.5
|
31.4
|
140
|
|
141.4
|
105.7
|
34
|
Net
Sales
|
|
831.5
|
798.8
|
4
|
|
3,431.70
|
3,090.40
|
11
|
PBIT
|
AMESA
|
44
|
30.9
|
31.1
|
-1
|
39
|
129.3
|
108.3
|
19
|
EAP
|
36
|
24.7
|
34.5
|
-28
|
38
|
127.7
|
143.4
|
-11
|
AMERICAS
|
15
|
10.5
|
11.9
|
-12
|
16
|
52.9
|
71.2
|
-26
|
EUROPE
|
5
|
3.4
|
9.9
|
-66
|
8
|
25.6
|
62.5
|
-59
|
Total
PBIT
|
100
|
69.5
|
87.4
|
-20
|
100
|
335.5
|
385.4
|
-13
|
Less
: Interest
|
|
12.2
|
8.9
|
37
|
|
40.3
|
42.9
|
-6
|
Add:
Other un-allcoable
|
|
-8.2
|
0.6
|
PL
|
|
-6.4
|
-11.4
|
44
|
PBT
|
|
49.1
|
79.1
|
-38
|
|
288.8
|
331.1
|
-13
|
|