For
the quarter ending Sept 2023, consolidated Net sales (including other operating income) of ZF Commercial Vehicle Control System India has increased 25.08% to Rs 991.69 crore compared to quarter ended Sept 2022. Operating profit margin has jumped from 13.57% to 14.67%, leading to 35.26% rise in operating profit to Rs 145.47 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 63.25% to 61.93%. Employee cost increased from 11.65% to 11.78%. Other expenses rose from 11.42% to 11.58%. Other income rose 97.71% to Rs 24.14 crore. PBIDT rose 41.62% to Rs 169.61 crore. Provision for interest fell 37.85% to Rs 1.33 crore. Loan funds rose to Rs 63.82 crore as of 30 September 2023 from Rs 36.81 crore as of 30 September 2022. Inventories rose to Rs 156.25 crore as of 30 September 2023 from Rs 132.37 crore as of 30 September 2022. Sundry debtors were higher at Rs 821.05 crore as of 30 September 2023 compared to Rs 693.95 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,311.77 crore as of 30 September 2023 from Rs 1,161.12 crore as of 30 September 2022.
PBDT rose 43.07% to Rs 168.28 crore. Provision for depreciation fell 0.92% to Rs 27.07 crore. Fixed assets increased to Rs 679.94 crore as of 30 September 2023 from Rs 586.10 crore as of 30 September 2022. Intangible assets declined from Rs 12.10 crore to Rs 7.86 crore.
Profit before tax grew 56.38% to Rs 141.21 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 35.53 crore, compared to Rs 21.66 crore. Effective tax rate was 25.16% compared to 23.99%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 53.96% to Rs 105.68 crore. Equity capital stood at Rs 9.48 crore as of 30 September 2023 to Rs 9.48 crore as of 30 September 2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 75.00% as of 30 September 2023 ,compared to 75.00% as of 30 September 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of ZF Commercial Vehicle Control System India has increased 23.08% to Rs 1958.5 crore.
Operating profit margin has jumped from 12.96% to 14.64%, leading to 39.03% rise in operating profit to Rs 286.78 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.06% to 61.92%. Employee cost increased from 11.37% to 11.83%. Other expenses rose from 11.52% to 11.58%. Other income rose 94.69% to Rs 45.46 crore. PBIDT rose 44.69% to Rs 332.24 crore. Provision for interest fell 17.90% to Rs 2.66 crore. Loan funds rose to Rs 63.82 crore as of 30 September 2023 from Rs 36.81 crore as of 30 September 2022. Inventories rose to Rs 156.25 crore as of 30 September 2023 from Rs 132.37 crore as of 30 September 2022. Sundry debtors were higher at Rs 821.05 crore as of 30 September 2023 compared to Rs 693.95 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,311.77 crore as of 30 September 2023 from Rs 1,161.12 crore as of 30 September 2022.
PBDT rose 45.59% to Rs 329.58 crore. Provision for depreciation rose 9.52% to Rs 54.75 crore. Fixed assets increased to Rs 679.94 crore as of 30 September 2023 from Rs 586.10 crore as of 30 September 2022. Intangible assets declined from Rs 12.10 crore to Rs 7.86 crore.
Profit before tax grew 55.81% to Rs 274.83 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 69.42 crore, compared to Rs 45.35 crore. Effective tax rate was 25.26% compared to 25.71%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 56.75% to Rs 205.41 crore.
Equity capital stood at Rs 9.48 crore as of 30 September 2023 to Rs 9.48 crore as of 30 September 2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 75.00% as of 30 September 2023 ,compared to 75.00% as of 30 September 2022 .
Cash flow from operating activities increased to Rs 168.81 crore for YTD ended September 2023 from Rs 146.43 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 545.49 crore, compared to Rs 52.93 crore during the YTD ended September 2022.
Full year results analysis.
Net sales (including other operating income) of ZF Commercial Vehicle Control System India has increased 35.42% to Rs 3444.25 crore. Operating profit margin has jumped from 9.93% to 13.66%, leading to 86.25% rise in operating profit to Rs 470.36 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.70% to 63.77%. Employee cost decreased from 12.89% to 10.94%. Other expenses fell from 12.51% to 11.63%. Other income rose 78.47% to Rs 66.98 crore. PBIDT rose 85.24% to Rs 537.34 crore. Provision for interest rose 198.42% to Rs 5.67 crore. Loan funds rose to Rs 65.35 crore as of 31 March 2023 from Rs 3.89 crore as of 31 March 2022. Inventories rose to Rs 156.96 crore as of 31 March 2023 from Rs 144.77 crore as of 31 March 2022. Sundry debtors were higher at Rs 757.56 crore as of 31 March 2023 compared to Rs 666.38 crore as of 31 March 2022. Cash and bank balance rose to Rs 1,169.41 crore as of 31 March 2023 from Rs 670.10 crore as of 31 March 2022. Investments declined from Rs 398.11 crore as of 31 March 2022 to Rs 100.14 crore as of 31 March 2023.
PBDT rose 84.50% to Rs 531.67 crore. Provision for depreciation rose 13.36% to Rs 104.78 crore. Fixed assets increased to Rs 652.26 crore as of 31 March 2023 from Rs 546.44 crore as of 31 March 2022. Intangible assets increased from Rs 9.48 crore to Rs 11.55 crore.
Profit before tax grew 118.09% to Rs 426.89 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 109.22 crore, compared to Rs 53.67 crore. Effective tax rate was 25.59% compared to 27.42%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 123.60% to Rs 317.67 crore.
Equity capital stood at Rs 9.48 crore as of 31 March 2023 to Rs 9.48 crore as of 31 March 2022. Per share face Value remained same at Rs 5.00.
Promoters’ stake was 75.00% as of 31 March 2023 ,compared to 75.00% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 298.46 crore for year ended March 2023 from Rs 138.26 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 127.82 crore, compared to Rs 176.31 crore during the year ended March 2022.
| ZF Commercial Vehicle Control System India : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 991.69 | 792.83 | 25.08 | 1,958.50 | 1,591.25 | 23.08 | 3,444.25 | 2,543.35 | 35.42 | | OPM (%) | 14.67 | 13.57 | 110 bps | 14.64 | 12.96 | 168 bps | 13.66 | 9.93 | 373 bps | | OP | 145.47 | 107.55 | 35.26 | 286.78 | 206.27 | 39.03 | 470.36 | 252.54 | 86.25 | | Other Inc. | 24.14 | 12.21 | 97.71 | 45.46 | 23.35 | 94.69 | 66.98 | 37.53 | 78.47 | | PBIDT | 169.61 | 119.76 | 41.62 | 332.24 | 229.62 | 44.69 | 537.34 | 290.07 | 85.24 | | Interest | 1.33 | 2.14 | -37.85 | 2.66 | 3.24 | -17.90 | 5.67 | 1.90 | 198.42 | | PBDT | 168.28 | 117.62 | 43.07 | 329.58 | 226.38 | 45.59 | 531.67 | 288.17 | 84.50 | | Depreciation | 27.07 | 27.32 | -0.92 | 54.75 | 49.99 | 9.52 | 104.78 | 92.43 | 13.36 | | PBT | 141.21 | 90.30 | 56.38 | 274.83 | 176.39 | 55.81 | 426.89 | 195.74 | 118.09 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 141.21 | 90.3 | 56.38 | 274.83 | 176.39 | 55.81 | 426.89 | 195.74 | 118.09 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 141.21 | 90.3 | 56.38 | 274.83 | 176.39 | 55.81 | 426.89 | 195.74 | 118.09 | | Taxation | 35.53 | 21.66 | 64.04 | 69.42 | 45.35 | 53.08 | 109.22 | 53.67 | 103.50 | | PAT | 105.68 | 68.64 | 53.96 | 205.41 | 131.04 | 56.75 | 317.67 | 142.07 | 123.60 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 105.68 | 68.64 | 53.96 | 205.41 | 131.04 | 56.75 | 317.67 | 142.07 | 123.60 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 105.68 | 68.64 | 53.96 | 205.41 | 131.04 | 56.75 | 317.67 | 142.07 | 123.60 | | EPS (Rs)* | 55.74 | 36.20 | 53.96 | 108.34 | 69.11 | 56.75 | 167.55 | 74.93 | 123.60 | | | * EPS is on current equity of Rs 9.48 crore, Face value of Rs 5, 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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