Capitaline

Results 06-Nov-23

Analysis

Frontier Springs

Net jumps 78% on good operating show

Standalone net sales (including other operating income) of Frontier Springs has increased 22.34% to Rs 32.75 crore. Operating profit margin has jumped from 10.61% to 14.38%, leading to 65.85% rise in operating profit to Rs 4.71 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 49.59% to 51.04%. Employee cost decreased from 4.06% to 3.02%. Other expenses fell from 35.67% to 31.96%. Other income fell 64.29% to Rs 0.05 crore. PBIDT rose 59.73% to Rs 4.76 crore. Provision for interest fell 60% to Rs 0.04 crore. PBDT rose 63.89% to Rs 4.72 crore. Provision for depreciation rose 23.29% to Rs 0.9 crore. Profit before tax grew 77.67% to Rs 3.82 crore. Provision for tax was expense of Rs 0.97 crore, compared to Rs 0.55 crore. Effective tax rate was 25.39% compared to 25.58%. Profit after tax rose 78.13% to Rs 2.85 crore.

For year-to-date (YTD) results analysis

Standalone net sales (including other operating income) of Frontier Springs has increased 15.48% to Rs 58.25 crore. Operating profit margin has jumped from 12.39% to 14.06%, leading to 31.04% rise in operating profit to Rs 8.19 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 48.89% to 50.76%. Employee cost decreased from 3.84% to 3.34%. Other expenses fell from 35.22% to 32.29%. Other income fell 65.52% to Rs 0.1 crore. PBIDT rose 26.76% to Rs 8.29 crore. Provision for interest fell 44.44% to Rs 0.1 crore. PBDT rose 28.77% to Rs 8.19 crore. Provision for depreciation rose 20.41% to Rs 1.77 crore. Profit before tax grew 31.29% to Rs 6.42 crore. Provision for tax was expense of Rs 1.71 crore, compared to Rs 1.33 crore. Effective tax rate was 26.64% compared to 27.20%. Profit after tax rose 32.30% to Rs 4.71 crore.

Others

Equity capital stood at Rs 3.96 crore as of 30 September 2023 to Rs 3.96 crore as of 30 September 2022. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 51.76% as of 30 September 2023 ,compared to 51.76% as of 30 September 2022 .

Cash flow from operating activities decreased to Rs 9.04 crore for YTD ended September 2023 from Rs 9.52 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 3.30 crore, compared to Rs 3.38 crore during the YTD ended September 2022.

Loan funds rose to Rs 2.11 crore as of 30 September 2023 from Rs 1.97 crore as of 30 September 2022. Inventories rose to Rs 32.31 crore as of 30 September 2023 from Rs 24.43 crore as of 30 September 2022. Sundry debtors were higher at Rs 11.40 crore as of 30 September 2023 compared to Rs 9.83 crore as of 30 September 2022. Cash and bank balance declined from Rs 4.42 crore as of 30 September 2022 to Rs 4.13 crore as of 30 September 2023. Investments rose to Rs 16.60 crore as of 30 September 2023 from Rs 15.52 crore as of 30 September 2022 . Fixed assets increased to Rs 44.27 crore as of 30 September 2023 from Rs 39.02 crore as of 30 September 2022. Intangible assets declined from Rs 0.39 crore to Rs 0.07 crore.

Frontier Springs : Standalone Results

	Quarter ended			Year to Date			Year ended
Particulars	202309	202209	Var.(%)	202309	202209	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	32.75	26.77	22.34	58.25	50.44	15.48	107.36	83.66	28.33
OPM (%)	14.38	10.61	377 bps	14.06	12.39	167 bps	11.79	14.61	-281 bps
OP	4.71	2.84	65.85	8.19	6.25	31.04	12.66	12.22	3.60
Other Inc.	0.05	0.14	-64.29	0.10	0.29	-65.52	0.64	0.98	-34.69
PBIDT	4.76	2.98	59.73	8.29	6.54	26.76	13.30	13.20	0.76
Interest	0.04	0.1	-60.00	0.1	0.18	-44.44	0.33	0.28	17.86
PBDT	4.72	2.88	63.89	8.19	6.36	28.77	12.97	12.92	0.39
Depreciation	0.9	0.73	23.29	1.77	1.47	20.41	3.2	2.85	12.28
PBT	3.82	2.15	77.67	6.42	4.89	31.29	9.77	10.07	-2.98
PBT before EO	3.82	2.15	77.67	6.42	4.89	31.29	9.77	10.07	-2.98
EO Income	0	0	-	0	0	-	0	0	-
PBT after EO	3.82	2.15	77.67	6.42	4.89	31.29	9.77	10.07	-2.98
Taxation	0.97	0.55	76.36	1.71	1.33	28.57	2.53	2.56	-1.17
PAT	2.85	1.6	78.13	4.71	3.56	32.30	7.24	7.51	-3.60
P/(L) from discontinued operations net of tax	0	0	-	0	0	-	0	0	-
Net profit after discontinued operations	2.85	1.6	78.13	4.71	3.56	32.30	7.24	7.51	-3.60
EPS (Rs)*	7.23	4.06	78.12	11.95	9.04	32.30	18.38	19.06	-3.60

* EPS is on current equity of Rs 3.94 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

Previous News

Frontier Springs
( Results - Analysis 11-Aug-23 10:04 )

Frontier Springs to convene AGM
( Corporate News - 12-Sep-23 19:40 )

Frontier Springs to hold board meeting
( Corporate News - 05-May-17 11:03 )

Frontier Springs
( Results - Analysis 09-Nov-20 10:17 )

Frontier Springs to convene AGM
( Corporate News - 16-Aug-19 17:07 )

Frontier Springs to discuss results
( Corporate News - 01-Feb-21 16:36 )

Frontier Springs reports net loss of Rs 0.09 crore in the March 2012 quarter
( Results - Announcements 30-May-12 16:47 )

Frontier Springs to hold board meeting
( Corporate News - 30-Jan-16 10:32 )

Board of Frontier Springs recommends final dividend
( Corporate News - 31-May-23 13:37 )

Frontier Springs net profit declines 59.42% in the September 2013 quarter
( Results - Announcements 20-Nov-13 14:48 )

Frontier Springs standalone net profit rises 42.45% in the September 2018 quarter
( Results - Announcements 21-Nov-18 08:09 )