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Results
01-Feb-23
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Analysis
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John Cockerill India
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Sales up 62%, net up 92%
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Standalone net sales (including other operating income) of John Cockerill India for the quarter ended Dec 2022 has increased 62.14% to Rs 210.96 crore. Operating profit margin has declined from 4.61% to 3.62%, leading to 27.33% rise in operating profit to Rs 7.64 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 72.16% to 71.78%. Employee cost decreased from 9.07% to 6.66%. Other expenses rose from 14.25% to 18.00%. Other income up 246.04% to Rs 4.81 crore. PBIDT rose 68.47% to Rs 12.45 crore. Provision for interest fell 86.67% to Rs 0.04 crore. PBDT rose 75.04% to Rs 12.41 crore. Provision for depreciation down 0.88% to Rs 1.13 crore. Profit before tax grew 89.58% to Rs 11.28 crore. Provision for tax was credit of Rs 0.1 crore, compared to debit of Rs 0.01 crore. Effective tax rate was negative 0.89% compared to 0.17%. Profit after tax rose 91.58% to Rs 11.38 crore. Nine month performance Net sales (including other operating income) of John Cockerill India has declined 8.89% to Rs 291.11 crore. Operating profit margin (OPM) has turned from positive 2.89% to negative 1.38%, Operating profit for the quarter stood loss of Rs 4.01 crore compared to profit of Rs 9.23 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 71.59% to 64.53%. Employee cost increased from 11.71% to 14.24%. Other expenses rose from 13.81% to 22.59%. Other income up 330.58% to Rs 12.53 crore. PBIDT fell 29.82% to Rs 8.52 crore. Provision for interest up 22.81% to Rs 2.1 crore. PBDT fell 38.45% to Rs 6.42 crore. Provision for depreciation down 4.53% to Rs 3.37 crore. Profit before tax down 55.80% to Rs 3.05 crore. Provision for tax was credit of Rs 0.04 crore, compared to credit of Rs 0.19 crore. Effective tax rate was negative 1.31% compared to negative 2.75%.Profit after tax fell 56.42% to Rs 3.09 crore. Promoters’ stake was 75.00% as of 31 December 2022 ,compared to 75.00% as of 31 December 2021 .
| John Cockerill India : Standalone 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) | 210.96 | 130.11 | 62.14 | 291.11 | 319.53 | -8.89 | 382.78 | 198.06 | 93.26 | | OPM (%) | 3.62 | 4.61 | -99 bps | -1.38 | 2.89 | -427 bps | 2.48 | -13.78 | 1,626 bps | | OP | 7.64 | 6.00 | 27.33 | -4.01 | 9.23 | PL | 9.49 | -27.29 | LP | | Other Inc. | 4.81 | 1.39 | 246.04 | 12.53 | 2.91 | 330.58 | 6.45 | 2.30 | 180.43 | | PBIDT | 12.45 | 7.39 | 68.47 | 8.52 | 12.14 | -29.82 | 15.94 | -24.99 | LP | | Interest | 0.04 | 0.3 | -86.67 | 2.1 | 1.71 | 22.81 | 6.85 | 0.19 | 3,505.26 | | PBDT | 12.41 | 7.09 | 75.04 | 6.42 | 10.43 | -38.45 | 9.09 | -25.18 | LP | | Depreciation | 1.13 | 1.14 | -0.88 | 3.37 | 3.53 | -4.53 | 4.66 | 5.03 | -7.36 | | PBT | 11.28 | 5.95 | 89.58 | 3.05 | 6.9 | -55.80 | 4.43 | -30.21 | LP | | PBT before EO | 11.28 | 5.95 | 89.58 | 3.05 | 6.9 | -55.80 | 4.43 | -30.21 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 11.28 | 5.95 | 89.58 | 3.05 | 6.9 | -55.80 | 4.43 | -30.21 | LP | | Taxation | -0.1 | 0.01 | LP | -0.04 | -0.19 | 78.95 | -0.21 | -1.15 | 81.74 | | PAT | 11.38 | 5.94 | 91.58 | 3.09 | 7.09 | -56.42 | 4.64 | -29.06 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 11.38 | 5.94 | 91.58 | 3.09 | 7.09 | -56.42 | 4.64 | -29.06 | LP | | EPS (Rs)* | 23.04 | 12.02 | 91.58 | 6.26 | 14.35 | -56.42 | 9.39 | -58.83 | LP | | | * EPS is on current equity of Rs 4.94 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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