For
the quarter ending sept 2022, consolidated net sales (including other operating income) of Precision Camshafts has increased 27.60% to Rs 273.76 crore compared to quarter ended sept 2021. Operating profit margin has declined from 13.68% to 10.97%, leading to 2.25% rise in operating profit to Rs 30.02 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.64% to 40.71%. Employee cost decreased from 17.70% to 17.04%. Other expenses rose from 27.32% to 30.42%. Other income fell 12.17% to Rs 3.32 crore. PBIDT rose 0.60% to Rs 33.34 crore. Provision for interest fell 10.22% to Rs 1.67 crore. Loan funds declined from Rs 140.62 crore as of 30 September 2021 to Rs 109.99 crore as of 30 September 2022. Inventories rose to Rs 223.53 crore as of 30 September 2022 from Rs 138.54 crore as of 30 September 2021. Sundry debtors were higher at Rs 192.91 crore as of 30 September 2022 compared to Rs 134.87 crore as of 30 September 2021. Cash and bank balance rose to Rs 87.06 crore as of 30 September 2022 from Rs 76.90 crore as of 30 September 2021. Investments declined from Rs 216.78 crore as of 30 September 2021 to Rs 182.28 crore as of 30 September 2022.
PBDT rose 1.25% to Rs 31.67 crore. Provision for depreciation fell 6.12% to Rs 18.42 crore. Fixed assets increased to Rs 362.56 crore as of 30 September 2022 from Rs 312.49 crore as of 30 September 2021. Intangible assets declined from Rs 75.13 crore to Rs 16.25 crore.
Profit before tax grew 13.64% to Rs 13.25 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 3.31 crore, compared to Rs 4.04 crore. Effective tax rate was 24.98% compared to 16.54%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 51.25% to Rs 9.94 crore. Equity capital stood at Rs 94.99 crore as of 30 September 2022 to Rs 94.99 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 65.37% as of 30 September 2022 ,compared to 65.37% as of 30 September 2021 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Precision Camshafts has increased 21.76% to Rs 513.76 crore.
Operating profit margin has declined from 12.12% to 10.99%, leading to 10.36% rise in operating profit to Rs 56.45 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 41.70% to 42.11%. Employee cost decreased from 18.05% to 17.01%. Other expenses rose from 28.35% to 29.47%. Other income fell 68.27% to Rs 4.3 crore. PBIDT fell 6.11% to Rs 60.75 crore. Provision for interest fell 13.15% to Rs 3.17 crore. Loan funds declined from Rs 140.62 crore as of 30 September 2021 to Rs 109.99 crore as of 30 September 2022. Inventories rose to Rs 223.53 crore as of 30 September 2022 from Rs 138.54 crore as of 30 September 2021. Sundry debtors were higher at Rs 192.91 crore as of 30 September 2022 compared to Rs 134.87 crore as of 30 September 2021. Cash and bank balance rose to Rs 87.06 crore as of 30 September 2022 from Rs 76.90 crore as of 30 September 2021. Investments declined from Rs 216.78 crore as of 30 September 2021 to Rs 182.28 crore as of 30 September 2022.
PBDT fell 5.68% to Rs 57.58 crore. Provision for depreciation fell 5.30% to Rs 37.15 crore. Fixed assets increased to Rs 362.56 crore as of 30 September 2022 from Rs 312.49 crore as of 30 September 2021. Intangible assets declined from Rs 75.13 crore to Rs 16.25 crore.
Profit before tax down 6.37% to Rs 20.43 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 6.3 crore, compared to Rs 7.42 crore. Effective tax rate was 30.84% compared to 21.30%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 48.47% to Rs 14.13 crore.
Equity capital stood at Rs 94.99 crore as of 30 September 2022 to Rs 94.99 crore as of 30 September 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 65.37% as of 30 September 2022 ,compared to 65.37% as of 30 September 2021 .
Full year results analysis.
Net sales (including other operating income) of Precision Camshafts has increased 26.24% to Rs 895.02 crore. Sales of India segment has gone up 35.99% to Rs 282.24 crore (accounting for 31.53% of total sales). Sales of Asia (Other Than China) segment rose 42.19% to Rs 63.66 crore (accounting for 7.11% of total sales). Sales of China segment has gone down 83.43% to Rs 0.74 crore (accounting for 0.08% of total sales). Sales of Europe segment has gone up 14.82% to Rs 461.29 crore (accounting for 51.54% of total sales). Sales of Others segment has gone up 72.57% to Rs 87.09 crore (accounting for 9.73% of total sales). Operating profit margin has jumped from 8.67% to 12.73%, leading to 85.39% rise in operating profit to Rs 113.92 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 40.50% to 42.77%. Employee cost decreased from 19.99% to 16.90%. Other expenses fell from 30.93% to 28.18%. Other income fell 26.91% to Rs 18.93 crore. PBIDT rose 52.09% to Rs 132.85 crore. Provision for interest fell 4.58% to Rs 7.29 crore. Loan funds declined from Rs 175.70 crore as of 31 March 2021 to Rs 136.36 crore as of 31 March 2022. Inventories rose to Rs 192.75 crore as of 31 March 2022 from Rs 124.20 crore as of 31 March 2021. Sundry debtors were higher at Rs 164.12 crore as of 31 March 2022 compared to Rs 154.29 crore as of 31 March 2021. Cash and bank balance declined from Rs 67.32 crore as of 31 March 2021 to Rs 51.93 crore as of 31 March 2022. Investments declined from Rs 196.42 crore as of 31 March 2021 to Rs 194.26 crore as of 31 March 2022.
PBDT rose 57.52% to Rs 125.56 crore. Provision for depreciation rose 16.02% to Rs 92.03 crore. Fixed assets declined from Rs 418.84 crore as of 31 March 2021 to Rs 377.83 crore as of 31 March 2022. Intangible assets declined from Rs 16.45 crore to Rs 16.41 crore.
Profit before tax grew 8,497.44% to Rs 33.53 crore. Share of profit/loss were nil in both the periods. Extraordinary items were increased to Rs 27.41 crore. Provision for tax was expense of Rs 14.92 crore, compared to Rs 16.26 crore. Effective tax rate was 24.48% compared to 104.97%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 1,909.61% to Rs 46.02 crore.
Equity capital stood at Rs 94.99 crore as of 31 March 2022 to Rs 94.99 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 65.37% as of 31 March 2022 ,compared to 65.37% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 87.55 crore for year ended March 2022 from Rs 119.90 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 56.41 crore, compared to Rs 29.78 crore during the year ended March 2021.
| Precision Camshafts : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 273.76 | 214.55 | 27.60 | 513.76 | 421.95 | 21.76 | 895.02 | 708.98 | 26.24 | | OPM (%) | 10.97 | 13.68 | -272 bps | 10.99 | 12.12 | -113 bps | 12.73 | 8.67 | 406 bps | | OP | 30.02 | 29.36 | 2.25 | 56.45 | 51.15 | 10.36 | 113.92 | 61.45 | 85.39 | | Other Inc. | 3.32 | 3.78 | -12.17 | 4.30 | 13.55 | -68.27 | 18.93 | 25.90 | -26.91 | | PBIDT | 33.34 | 33.14 | 0.60 | 60.75 | 64.70 | -6.11 | 132.85 | 87.35 | 52.09 | | Interest | 1.67 | 1.86 | -10.22 | 3.17 | 3.65 | -13.15 | 7.29 | 7.64 | -4.58 | | PBDT | 31.67 | 31.28 | 1.25 | 57.58 | 61.05 | -5.68 | 125.56 | 79.71 | 57.52 | | Depreciation | 18.42 | 19.62 | -6.12 | 37.15 | 39.23 | -5.30 | 92.03 | 79.32 | 16.02 | | PBT | 13.25 | 11.66 | 13.64 | 20.43 | 21.82 | -6.37 | 33.53 | 0.39 | 8,497.44 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 13.25 | 11.66 | 13.64 | 20.43 | 21.82 | -6.37 | 33.53 | 0.39 | 8,497.44 | | EO Income | 0 | 12.77 | - | 0 | 13.02 | - | 27.41 | 15.1 | 81.52 | | PBT after EO | 13.25 | 24.43 | -45.76 | 20.43 | 34.84 | -41.36 | 60.94 | 15.49 | 293.42 | | Taxation | 3.31 | 4.04 | -18.07 | 6.3 | 7.42 | -15.09 | 14.92 | 16.26 | -8.24 | | PAT | 9.94 | 20.39 | -51.25 | 14.13 | 27.42 | -48.47 | 46.02 | -0.77 | LP | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | -3.06 | - | | Net profit | 9.94 | 20.39 | -51.25 | 14.13 | 27.42 | -48.47 | 46.02 | 2.29 | 1,909.61 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 9.94 | 20.39 | -51.25 | 14.13 | 27.42 | -48.47 | 46.02 | 2.29 | 1,909.61 | | EPS (Rs)* | 1.05 | 1.02 | 2.16 | 1.49 | 1.81 | -17.71 | 2.67 | 0.01 | 42,100.00 | | | * EPS is on current equity of Rs 94.99 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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