Consolidated net sales (including other operating income) of Dixon Technologies (India) has increased 14.59% to Rs 3271.5 crore. Operating profit margin has jumped from 3.51% to 4.03%, leading to 31.71% rise in operating profit to Rs 131.87 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 91.42% to 90.48%. Employee cost increased from 1.81% to 2.06%. Other expenses rose from 3.47% to 3.48%. Other income rose 578.57% to Rs 2.85 crore. PBIDT rose 34% to Rs 134.72 crore. Provision for interest fell 2.98% to Rs 14 crore. PBDT rose 40.19% to Rs 120.72 crore. Provision for depreciation rose 40.11% to Rs 33.71 crore. Profit before tax grew 40.23% to Rs 87.01 crore. Provision for tax was expense of Rs 22.85 crore, compared to Rs 16.54 crore. Effective tax rate was 25.38% compared to 26.69%. Minority interest decreased 503.70% to Rs -1.63 crore. Net profit attributable to owners of the company increased 50.59% to Rs 68.82 crore.
Full year results analysis.
Net sales (including other operating income) of Dixon Technologies (India) has increased 13.98% to Rs 12192.01 crore. Operating profit margin has jumped from 3.54% to 4.21%, leading to 35.25% rise in operating profit to Rs 512.75 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 91.51% to 90.39%. Employee cost increased from 1.83% to 2.07%. Other expenses rose from 3.15% to 3.34%. Other income rose 47.24% to Rs 5.61 crore. PBIDT rose 35.37% to Rs 518.36 crore. Provision for interest rose 37.04% to Rs 60.57 crore. Loan funds declined from Rs 469.58 crore as of 31 March 2022 to Rs 200.26 crore as of 31 March 2023. Inventories declined from Rs 1,155.69 crore as of 31 March 2022 to Rs 957.87 crore as of 31 March 2023. Sundry debtors were higher at Rs 1,715.45 crore as of 31 March 2023 compared to Rs 1,356.35 crore as of 31 March 2022. Cash and bank balance rose to Rs 229.18 crore as of 31 March 2023 from Rs 182.34 crore as of 31 March 2022. Investments declined from Rs 140.96 crore as of 31 March 2022 to Rs 44.15 crore as of 31 March 2023. PBDT rose 35.15% to Rs 457.79 crore. Provision for depreciation rose 36.55% to Rs 114.63 crore. Fixed assets increased to Rs 1,310.59 crore as of 31 March 2023 from Rs 976.24 crore as of 31 March 2022. Intangible assets increased from Rs 49.44 crore to Rs 52.75 crore. Profit before tax grew 34.69% to Rs 343.16 crore. Provision for tax was expense of Rs 89.7 crore, compared to Rs 64.38 crore. Effective tax rate was 26.02% compared to 25.28%. Net profit attributable to owners of the company increased 34.36% to Rs 255.52 crore.
Promoters’ stake was 34.04% as of 30 June 2023 ,compared to 34.30% as of 30 June 2022 . Promoters pledged stake was 1.13% as of 30 June 2023. Promoters’ stake was 34.05% as of 31 March 2023 ,compared to 34.30% as of 31 March 2022 . Promoters pledged stake was 1.13% as of 31 March 2023.
| Dixon Technologies (India) : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 3,271.50 | 2,855.07 | 14.59 | 12,192.01 | 10,697.08 | 13.98 | | OPM (%) | 4.03 | 3.51 | 52 bps | 4.21 | 3.54 | 66 bps | | OP | 131.87 | 100.12 | 31.71 | 512.75 | 379.11 | 35.25 | | Other Inc. | 2.85 | 0.42 | 578.57 | 5.61 | 3.81 | 47.24 | | PBIDT | 134.72 | 100.54 | 34.00 | 518.36 | 382.92 | 35.37 | | Interest | 14.00 | 14.43 | -2.98 | 60.57 | 44.20 | 37.04 | | PBDT | 120.72 | 86.11 | 40.19 | 457.79 | 338.72 | 35.15 | | Depreciation | 33.71 | 24.06 | 40.11 | 114.63 | 83.95 | 36.55 | | PBT | 87.01 | 62.05 | 40.23 | 343.16 | 254.77 | 34.69 | | Share of Profit/(Loss) from Associates | 3.03 | -0.08 | LP | 1.62 | -0.06 | LP | | PBT before EO | 90.04 | 61.97 | 45.30 | 344.78 | 254.71 | 35.36 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 90.04 | 61.97 | 45.30 | 344.78 | 254.71 | 35.36 | | Taxation | 22.85 | 16.54 | 38.15 | 89.7 | 64.38 | 39.33 | | PAT | 67.19 | 45.43 | 47.90 | 255.08 | 190.33 | 34.02 | | Minority Interest (MI) | -1.63 | -0.27 | -503.70 | -0.44 | 0.16 | LP | | Net profit | 68.82 | 45.7 | 50.59 | 255.52 | 190.17 | 34.36 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 68.82 | 45.7 | 50.59 | 255.52 | 190.17 | 34.36 | | EPS (Rs)* | 11.55 | 7.67 | 50.59 | 42.90 | 31.93 | 34.36 | | | * EPS is on current equity of Rs 11.91 crore, Face value of Rs 2, 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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