Consolidated net sales of Mazagon Dock Shipbuilders for the quarter ended Dec 2022 has increased 16.97% to Rs 1815.91 crore. Operating profit margin has jumped from 13.01% to 16.29%, leading to 46.43% rise in operating profit to Rs 295.73 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 47.09% to 41.51%. Employee cost decreased from 13.98% to 10.90%. Other expenses rose from 25.92% to 31.31%. Power and Oil fuel cost rose from 0.23% to 0.25%. Expenses from contract rose from 5.87% to 12.37%. Other direct service cost fell from 14.01% to 10.69%. Other income rose 70.60% to Rs 175.84 crore. PBIDT rose 54.60% to Rs 471.57 crore. Provision for interest fell 22.51% to Rs 1.48 crore. PBDT rose 55.08% to Rs 470.09 crore. Provision for depreciation rose 7.49% to Rs 18.36 crore. Profit before tax grew 57.93% to Rs 451.73 crore. Share of profit/loss was 10.75% higher at Rs 16.9 crore. Provision for tax was expense of Rs 114.47 crore, compared to Rs 86.1 crore. Effective tax rate was 24.43% compared to 28.58%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 64.57% to Rs 354.16 crore. Nine month performance Consolidated net sales of Mazagon Dock Shipbuilders has increased 32.55% to Rs 5748.59 crore. Operating profit margin has jumped from 8.24% to 10.21%, leading to 64.31% rise in operating profit to Rs 587.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 52.61% to 53.39%. Employee cost decreased from 13.78% to 10.15%. Other expenses rose from 25.38% to 26.25%. Power and Oil fuel cost fell from 0.27% to 0.20%. Expenses from contract fell from 7.67% to 6.56%. Other direct service cost rose from 10.99% to 15.19%. Provisions writeoffs cost rose from 1.21% to 1.67%. Other provisions rose from 1.21% to 1.67%. Other income rose 69.10% to Rs 475.59 crore. PBIDT rose 66.42% to Rs 1062.78 crore. Provision for interest fell 23.17% to Rs 4.41 crore. PBDT rose 67.23% to Rs 1058.37 crore. Provision for depreciation rose 7.06% to Rs 55.22 crore. Profit before tax grew 72.57% to Rs 1,003.15 crore. Share of profit/loss was 29.49% higher at Rs 43.56 crore. Provision for tax was expense of Rs 253.87 crore, compared to Rs 149.13 crore. Effective tax rate was 24.25% compared to 24.82%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 75.47% to Rs 792.84 crore. Promoters’ stake was 84.83% as of 31 December 2022 ,compared to 84.83% as of 31 December 2021 .
| Mazagon Dock Shipbuilders : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202212 | 202112 | Var.(%) | 202212 | 202112 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 1,815.91 | 1,552.50 | 16.97 | 5,748.59 | 4,336.85 | 32.55 | 5,733.28 | 4,047.82 | 41.64 | | OPM (%) | 16.29 | 13.01 | 328 bps | 10.21 | 8.24 | 197 bps | 7.58 | 5.53 | 205 bps | | OP | 295.73 | 201.96 | 46.43 | 587.19 | 357.36 | 64.31 | 434.70 | 223.87 | 94.18 | | Other Inc. | 175.84 | 103.07 | 70.60 | 475.59 | 281.25 | 69.10 | 410.27 | 574.10 | -28.54 | | PBIDT | 471.57 | 305.03 | 54.60 | 1,062.78 | 638.61 | 66.42 | 844.97 | 797.97 | 5.89 | | Interest | 1.48 | 1.91 | -22.51 | 4.41 | 5.74 | -23.17 | 7.16 | 8.36 | -14.35 | | PBDT | 470.09 | 303.12 | 55.08 | 1,058.37 | 632.87 | 67.23 | 837.81 | 789.61 | 6.10 | | Depreciation | 18.36 | 17.08 | 7.49 | 55.22 | 51.58 | 7.06 | 74.51 | 59.65 | 24.91 | | PBT | 451.73 | 286.04 | 57.93 | 1003.15 | 581.29 | 72.57 | 763.3 | 729.96 | 4.57 | | Share of Profit/(Loss) from Associates | 16.9 | 15.26 | 10.75 | 43.56 | 33.64 | 29.49 | 47.73 | 60.39 | -20.96 | | PBT before EO | 468.63 | 301.3 | 55.54 | 1046.71 | 614.93 | 70.22 | 811.03 | 790.35 | 2.62 | | EO Income | 0 | 0 | - | 0 | -13.97 | - | -13.97 | -126.14 | 88.93 | | PBT after EO | 468.63 | 301.3 | 55.54 | 1046.71 | 600.96 | 74.17 | 797.06 | 664.21 | 20.00 | | Taxation | 114.47 | 86.1 | 32.95 | 253.87 | 149.13 | 70.23 | 186.22 | 150.35 | 23.86 | | PAT | 354.16 | 215.2 | 64.57 | 792.84 | 451.83 | 75.47 | 610.84 | 513.86 | 18.87 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 354.16 | 215.2 | 64.57 | 792.84 | 451.83 | 75.47 | 610.84 | 513.86 | 18.87 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 354.16 | 215.2 | 64.57 | 792.84 | 451.83 | 75.47 | 610.84 | 513.86 | 18.87 | | EPS (Rs)* | 17.56 | 10.67 | 64.57 | 39.31 | 22.91 | 71.56 | 30.81 | 30.17 | 2.10 | | | * EPS is on current equity of Rs 201.69 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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