Consolidated net sales (including other operating income) of Yuken India has increased 1.51% to Rs 91.17 crore. Operating profit margin has declined from 13.11% to 10.26%, leading to 20.56% decline in operating profit to Rs 9.35 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 41.13% to 42.87%. Purchase of finished goods cost fell from 7.38% to 7.36%. Employee cost increased from 12.17% to 13.49%. Other expenses fell from 26.84% to 26.26%. Other income fell 22.89% to Rs 0.64 crore. PBIDT fell 20.71% to Rs 9.99 crore. Provision for interest rose 5.61% to Rs 2.26 crore. PBDT fell 26.10% to Rs 7.73 crore. Provision for depreciation rose 19.54% to Rs 3.12 crore. Profit before tax down 41.27% to Rs 4.61 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 1.85 crore, compared to Rs 2.14 crore. Effective tax rate was 40.13% compared to 27.05%. Minority interest decreased 50% to Rs 0.01 crore. Net profit attributable to owners of the company decreased 52.17% to Rs 2.75 crore.
Sales of Hydraulic Business segment has gone down 2.01% to Rs 76.96 crore (accounting for 80.90% of total sales). Sales of Foundry Business segment fell 3.94% to Rs 18.18 crore (accounting for 19.10% of total sales). Inter-segment sales came down from Rs 7.65 crore to Rs 3.97 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped 12.87% to Rs 13.64 crore. PBIT of Hydraulic Business segment fell 29.54% to Rs 15.22 crore (accounting for 111.61% of total PBIT). PBIT of Foundry Business segment rose 73.39% to Rs -1.58 crore (accounting for -11.61% of total PBIT).
PBIT margin of Hydraulic Business segment fell from 27.51% to 19.78%. PBIT margin of Foundry Business segment rose from negative 31.44% to negative 8.71%. Overall PBIT margin fell from 16.06% to 14.33%.
For year-to-date (YTD) results analysis.
Consolidated net sales (including other operating income) of Yuken India has increased 24.02% to Rs 184.56 crore.
Sales of Hydraulic Business segment has gone up 20.78% to Rs 158.10 crore (accounting for 81.05% of total sales). Sales of Foundry Business segment rose 23.87% to Rs 36.96 crore (accounting for 18.95% of total sales). Inter-segment sales came down from Rs 11.93 crore to Rs 10.49 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 24.43% to Rs 27.62 crore. PBIT of Hydraulic Business segment rose 7.99% to Rs 33.62 crore (accounting for 121.70% of total PBIT). PBIT of Foundry Business segment rose 32.87% to Rs -5.99 crore (accounting for -21.70% of total PBIT).
PBIT margin of Hydraulic Business segment fell from 23.78% to 21.26%. PBIT margin of Foundry Business segment rose from negative 29.93% to negative 16.22%. Overall PBIT margin rose from 13.81% to 14.16%.
Operating profit margin has declined from 10.64% to 9.89%, leading to 15.35% rise in operating profit to Rs 18.26 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.30% to 44.06%. Purchase of finished goods cost fell from 8.35% to 6.57%. Employee cost decreased from 14.02% to 13.23%. Other expenses fell from 27.10% to 26.57%.
Other income fell 13.25% to Rs 1.31 crore. PBIDT rose 12.86% to Rs 19.57 crore. Provision for interest rose 1.23% to Rs 4.13 crore. PBDT rose 16.44% to Rs 15.44 crore. Provision for depreciation rose 19.92% to Rs 6.02 crore. Profit before tax grew 14.32% to Rs 9.42 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 3.37 crore, compared to Rs 2.47 crore. Effective tax rate was 35.77% compared to 29.72%. Minority interest increased 300% to Rs 0.08 crore. Net profit attributable to owners of the company increased 2.58% to Rs 5.97 crore.
Other developments
Equity capital stood at Rs 12.00 crore as of 30 September 2022 to Rs 12.00 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 52.50% as of 30 September 2022 ,compared to 52.50% as of 30 September 2021 .
Loan funds rose to Rs 121.00 crore as of 30 September 2022 from Rs 108.85 crore as of 30 September 2021. Inventories declined from Rs 207.86 crore as of 30 September 2021 to Rs 103.67 crore as of 30 September 2022. Sundry debtors were higher at Rs 114.49 crore as of 30 September 2022 compared to Rs 98.64 crore as of 30 September 2021. Cash and bank balance declined from Rs 2.88 crore as of 30 September 2021 to Rs 1.76 crore as of 30 September 2022. Investments rose to Rs 7.90 crore as of 30 September 2022 from Rs 4.55 crore as of 30 September 2021 . Fixed assets increased to Rs 175.27 crore as of 30 September 2022 from Rs 135.95 crore as of 30 September 2021. Intangible assets declined from Rs 6.79 crore to Rs 1.65 crore.
Cash flow from operating activities has turned positive Rs 9.47 crore for YTD ended September 2022 from negative Rs 6.04 crore for YTD ended September 2021. Cash flow used in acquiring fixed assets during the YTD ended September 2022 stood at Rs 23.98 crore, compared to Rs 16.67 crore during the YTD ended September 2021.