Capitaline

Sales of Communications and signal Processing products segment has gone up 33.44% to Rs 38.96 crore (accounting for 99.93% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 27.87% to Rs 8.42 crore. PBIT of Communications and signal Processing products segment rose 36.15% to Rs 9.28 crore (accounting for 110.23% of total PBIT). PBIT of Health care segment fell 271.28% to Rs -0.86 crore (accounting for -10.23% of total PBIT).
PBIT margin of Communications and signal Processing products segment rose from 23.34% to 23.81%. Overall PBIT margin fell from 22.54% to 21.59%.

Nine month performance

Consolidated net sales (including other operating income) of Avantel has increased 75% to Rs 101.92 crore. Sales of Communications and signal Processing products segment has gone up 73.09% to Rs 102.28 crore (accounting for 99.97% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 48.08% to Rs 21.48 crore. PBIT of Communications and signal Processing products segment rose 60.64% to Rs 23.77 crore (accounting for 110.65% of total PBIT). PBIT of Health care segment fell 688.15% to Rs -2.29 crore (accounting for -10.65% of total PBIT).

PBIT margin of Communications and signal Processing products segment fell from 25.04% to 23.24%. Overall PBIT margin fell from 24.55% to 21.00%.

Operating profit margin has declined from 30.20% to 28.15%, leading to 63.10% rise in operating profit to Rs 28.69 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 41.50% to 48.12%. Employee cost decreased from 14.33% to 11.17%. Other expenses fell from 17.78% to 15.60%.

Other income fell 53.57% to Rs 0.39 crore. PBIDT rose 57.79% to Rs 29.08 crore. Provision for interest rose 214.02% to Rs 3.36 crore.

PBDT rose 48.16% to Rs 25.72 crore. Provision for depreciation rose 48.25% to Rs 4.24 crore.

Profit before tax grew 48.14% to Rs 21.48 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 4.27 crore, compared to Rs 2.6 crore. Effective tax rate was 19.88% compared to 17.93%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 44.62% to Rs 17.21 crore.

Promoters’ stake was 40.14% as of 31 December 2022 ,compared to 40.14% as of 31 December 2021 .

Full year results analysis.

Net sales (including other operating income) of Avantel has increased 35.07% to Rs 104.95 crore. Sales of Communications and signal Processing products segment has gone up 35.31% to Rs 106.31 crore (accounting for 99.99% of total sales).

Profit before interest, tax and other unallocable items (PBIT) has jumped 21.43% to Rs 22.47 crore. PBIT of Communications and signal Processing products segment rose 27.77% to Rs 23.64 crore (accounting for 105.22% of total PBIT).

PBIT margin of Communications and signal Processing products segment fell from 23.55% to 22.24%. Overall PBIT margin fell from 23.55% to 21.13%.

Operating profit margin has declined from 28.53% to 25.38%, leading to 20.16% rise in operating profit to Rs 26.64 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.38% to 46.71%. Employee cost decreased from 13.41% to 12.18%. Other expenses fell from 23.51% to 16.66%.

Other income rose 57.47% to Rs 1.37 crore. PBIDT rose 21.57% to Rs 28.01 crore. Loan funds rose to Rs 15.65 crore as of 31 March 2022 from Rs 3.06 crore as of 31 March 2021. Inventories rose to Rs 16.77 crore as of 31 March 2022 from Rs 2.51 crore as of 31 March 2021. Sundry debtors were higher at Rs 36.16 crore as of 31 March 2022 compared to Rs 13.13 crore as of 31 March 2021. Cash and bank balance declined from Rs 42.97 crore as of 31 March 2021 to Rs 1.33 crore as of 31 March 2022.

PBDT rose 23.08% to Rs 26.5 crore. Provision for depreciation rose 33% to Rs 4.03 crore. Fixed assets increased to Rs 33.68 crore as of 31 March 2022 from Rs 16.76 crore as of 31 March 2021.

Profit before tax grew 21.46% to Rs 22.47 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 4.49 crore, compared to Rs 3.17 crore. Effective tax rate was 19.98% compared to 17.14%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 17.29% to Rs 17.98 crore.

Equity capital stood at Rs 4.06 crore as of 31 March 2022 to Rs 4.06 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 40.14% as of 31 March 2022 ,compared to 40.36% as of 31 March 2021 .

Cash flow from operating activities has turned negative Rs 32.32 crore for year ended March 2022 from positive Rs 44.65 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 14.67 crore, compared to Rs 4.94 crore during the year ended March 2021.

Quarter ended

Year to Date

Year ended

Particulars

202212

202112

Var.(%)

202212

202112

Var.(%)

202203

202103

Var.(%)

Net Sales (including other operating income)

38.71

29.09

33.07

101.92

58.24

75.00

104.95

77.70

35.07

OPM (%)

28.96

27.16

180 bps

28.15

30.20

-205 bps

25.38

28.53

-315 bps

11.21

7.90

41.90

28.69

17.59

63.10

26.64

22.17

20.16

Other Inc.

0.28

0.10

180.00

0.39

0.84

-53.57

1.37

0.87

57.47

PBIDT

11.49

8.00

43.63

29.08

18.43

57.79

28.01

23.04

21.57

Interest

1.55

0.42

269.05

3.36

1.07

214.02

1.51

PBDT

9.94

7.58

31.13

25.72

17.36

48.16

26.50

21.53

23.08

Depreciation

1.52

0.99

53.54

4.24

2.86

48.25

4.03

3.03

33.00

PBT

8.42

6.59

27.77

21.48

14.5

48.14

22.47

18.5

21.46

Share of Profit/(Loss) from Associates

PBT before EO

8.42

6.59

27.77

21.48

14.5

48.14

22.47

18.5

21.46

EO Income

PBT after EO

8.42

6.59

27.77

21.48

14.5

48.14

22.47

18.5

21.46

Taxation

1.73

1.2

44.17

4.27

2.6

64.23

4.49

3.17

41.64

PAT

6.69

5.39

24.12

17.21

11.9

44.62

17.98

15.33

17.29

Minority Interest (MI)

Net profit

6.69

5.39

24.12

17.21

11.9

44.62

17.98

15.33

17.29

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

6.69

5.39

24.12

17.21

11.9

44.62

17.98

15.33

17.29

EPS (Rs)*

4.13

3.32

24.12

10.61

7.34

44.62

11.09

9.45

17.29

* EPS is on current equity of Rs 16.22 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

Quarter ended

Year to Date

Year ended

% of (Total)

202212

202112

Var.(%)

% of (Total)

202212

202112

Var.(%)

% of (Total)

202203

202103

Var.(%)

Sales

Communications and signal Processing products

99.93

38.96

29.20

33.44

99.97

102.28

59.09

73.09

99.99

106.31

78.57

35.31

Health care

0.07

0.03

0.00

Total Reported Sales

100.00

38.99

29.20

33.54

100.00

102.31

59.09

73.14

100.00

106.32

78.57

35.33

Less: Inter segment revenues

0.00

Net Sales

100.00

38.99

29.20

33.54

100.00

102.31

59.09

73.14

100.00

106.32

78.57

35.33

PBIT

Communications and signal Processing products

110.23

9.28

6.81

36.15

110.65

23.77

14.80

60.64

105.22

23.64

18.50

27.77

Health care

-10.23

-0.86

-0.23

-271.28

-10.65

-2.29

-0.29

-688.15

Total PBIT

100.00

8.42

6.58

27.87

100.00

21.48

14.51

48.08

100.00

22.47

18.50

21.43

Less : Interest

0.00

Add: Other un-allcoable

0.00

PBIT Margin(%)

Communications and signal Processing products

23.81

23.34

47.44

23.24

25.04

-180.12

22.24

23.55

-131.22

Health care

-3,097.12

0.00

-3,09,712.23

-6,996.94

0.00

-6,99,694.19

-8,957.25

0.00

-8,95,725.19

PBT

100.00

8.42

6.58

27.87

100.00

21.48

14.51

48.08

100.00

22.47

18.50

21.43