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Results
26-Oct-23
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Analysis
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Dreamfolks Services
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Sales up 65%, NP up 20%
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Consolidated Net sales (including other
operating income) of Dreamfolks Services has increased 64.97% to Rs 282.49
crore. Operating profit margin has
declined from 11.71% to 8.60%, leading to 21.20% rise in operating profit to Rs
24.30 crore. Employee cost decreased
from 2.68% to 2.56%. Other expenses
rose from 85.61% to 88.84%. Other direct
service cost rose from 84.30% to 87.59%.
Other income fell 51.40% to Rs 0.52
crore. PBIDT rose 17.52% to Rs 24.82
crore. Provision for interest fell
55.93% to Rs 0.26 crore.
PBDT rose 19.63% to Rs 24.56 crore. Provision for depreciation rose 4.55% to Rs
0.92 crore.
Profit before tax grew 20.31% to Rs 23.64
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 5.97 crore, compared to Rs 4.83 crore. Effective tax rate was 25.25% compared to
24.58%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 20.45% to Rs 17.85 crore.
Equity capital increased from Rs 10.45 crore
as of 30 September 2022 to Rs 10.61 crore as of 30 September 2023. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 66.02% as of 30
September 2023 compared to 67.00% as of 30 September 2022.
Ms.
Liberatha Kallat, Chairperson and Managing Director, commented on the
performance:
“The company delivered a strong revenue performance registering 65.0% growth
YoY in Q2FY24 while on a QoQ basis revenue grew marginally by 6.1%. On a
sequential basis the company have seen a gross margin improvement of 174 bps to
12.4% in Q2FY24. We are a dominant player in the airport services industry and
are at the forefront of digitizing the industry, which is witnessing multiple
tailwinds. The domestic passenger traffic, as reported by the DGCA, has
witnessed a growth of 20% on YoY basis in H1FY24, while the Dreamfolks pax has
increased by 47% in the same period, indicating the growing demand for lounge
services in India as well as changing attitude of people towards having new
experiences. As the travel industry continues to witness robust demand, we
believe we are well positioned to capitalize on the growth opportunities. We
are working hard to achieve the goals and are excited about the future.”
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Dreamfolks Services has increased 65.55% to Rs 548.81 crore.
Operating profit margin has declined from
11.86% to 7.64%, leading to 6.66% rise in operating profit to Rs 41.93
crore. Employee cost increased from
2.54% to 2.67%. Other expenses rose
from 85.60% to 89.69%. Other direct
service cost rose from 84.30% to 88.44%.
Other income rose 25.20% to Rs 1.59
crore. PBIDT rose 7.24% to Rs 43.52
crore. Provision for interest fell
51.52% to Rs 0.48 crore. Loan funds
declined from Rs 7.82 crore as of 30 September 2022 to Rs 6.60 crore as of 30
September 2023. Sundry debtors were
higher at Rs 312.88 crore as of 30 September 2023 compared to Rs 159.67 crore
as of 30 September 2022. Cash and bank
balance declined from Rs 36.98 crore as of 30 September 2022 to Rs 30.99 crore
as of 30 September 2023.
PBDT rose 8.71% to Rs 43.04 crore. Provision for depreciation rose 4.71% to Rs
1.78 crore. Fixed assets declined from
Rs 17.19 crore as of 30 September 2022 to Rs 12.44 crore as of 30 September
2023. Intangible assets declined from Rs
3.79 crore to Rs 0.89 crore.
Profit before tax grew 8.89% to Rs 41.26
crore. Share of profit/loss were nil in
both the periods. Provision for tax was
expense of Rs 10.63 crore, compared to Rs 9.64 crore. Effective tax rate was 25.76% compared to
25.44%.
Minority interest was nil in both the
periods. Net profit attributable to
owners of the company increased 9.20% to Rs 30.85 crore.
Equity capital increased from Rs 10.45 crore
as of 30 September 2022 to Rs 10.61 crore as of 30 September 2023. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 66.02% as of 30
September 2023 ,compared to 67.00% as of 30 September 2022 .
Cash flow from operating activities has
turned negative Rs 42.26 crore for YTD ended September 2023 from positive Rs
11.44 crore for YTD ended September 2022.
Cash flow used in acquiring fixed assets during the YTD ended September
2023 stood at Rs 1.04 crore, compared to Rs 0.65 crore during the YTD ended
September 2022.
The scrip is
currently trading at Rs 506
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Dreamfolks Services :
Consolidated Results
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Particulars
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2309 (03)
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2209 (03)
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Var.(%)
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2309 (06)
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2209 (06)
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Var.(%)
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2303 (12)
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2203 (12)
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Var.(%)
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Net Sales
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282.49
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171.24
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65
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548.81
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331.5
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66
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773.25
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282.5
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174
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OPM (%)
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8.6
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11.7
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7.6
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11.9
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12.8
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8.0
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OP
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24.3
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20.05
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21
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41.93
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39.31
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7
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98.92
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22.58
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338
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Other Inc.
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0.52
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1.07
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-51
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1.59
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1.27
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25
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3.3
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1.49
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121
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PBIDT
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24.82
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21.12
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18
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43.52
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40.58
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7
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102.22
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24.07
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325
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Interest
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0.26
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0.59
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-56
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0.48
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0.99
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-52
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1.29
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1.47
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-12
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PBDT
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24.56
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20.53
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20
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43.04
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39.59
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9
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100.93
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22.6
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347
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Depreciation
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0.92
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0.88
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5
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1.78
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1.7
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5
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3.5
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2.13
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64
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PBT
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23.64
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19.65
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20
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41.26
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37.89
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9
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97.43
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20.47
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376
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Share of Profit/(Loss) from Associates
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0
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0
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0
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0
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0
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0
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PBT before EO
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23.64
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19.65
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20
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41.26
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37.89
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9
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97.43
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20.47
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376
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EO Income
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0
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0
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0
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0
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0
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0
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PBT after EO
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23.64
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19.65
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20
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41.26
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37.89
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9
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97.43
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20.47
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376
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Taxation
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5.97
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4.83
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24
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10.63
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9.64
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10
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24.91
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4.22
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490
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PAT
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17.67
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14.82
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19
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30.63
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28.25
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8
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72.52
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16.25
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346
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Minority Interest (MI)
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-0.18
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0
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-0.22
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0
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-0.01
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0
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Net profit
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17.85
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14.82
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20
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30.85
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28.25
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9
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72.53
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16.25
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346
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EPS (Rs)*
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#
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#
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#
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#
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13.9
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3.1
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Notes
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* EPS is on current equity of Rs 10.45 crore, Face value of Rs
2, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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Previous News |
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