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Results
10-Nov-23
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Analysis
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Foseco India
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Sales up 20%
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Foseco India standalone net sales has
increased 20.14% to Rs 123.19 crore.
Operating profit margin has declined from 14.59% to 13.12%, leading to
8.02% rise in operating profit to Rs 16.16 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 53.34% to 51.84%. Purchase of finished goods cost fell from
3.57% to 3.09%. Employee cost increased
from 10.60% to 12.50%. Other expenses
rose from 18.08% to 19.42%.
Other income up 296.41% to Rs 6.62
crore. PBIDT rose 36.98% to Rs 22.78
crore. Provision for interest remained
nil.
PBDT rose 36.98% to Rs 22.78 crore. Provision for depreciation down 0.53% to Rs
1.89 crore.
Profit before tax grew 41.82% to Rs 20.89
crore. Provision for tax was expense of
Rs 6.12 crore, compared to Rs 3.8 crore.
Effective tax rate was 29.30% compared to 25.80%.
Profit after tax rose 35.13% to Rs 14.77
crore.
Promoters’ stake was 74.98% as of 30
September 2023 ,compared to 74.98% as of 30 September 2022 .
For
year-to-date (YTD) results analysis
Net sales (including other operating income)
of Foseco India has increased 17.96% to Rs 355.09 crore.
Operating profit margin has declined from
14.84% to 14.11%, leading to 12.15% rise in operating profit to Rs 50.11
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 53.54% to 51.38%. Purchase of finished goods cost rose from
3.18% to 3.42%. Employee cost increased
from 10.69% to 12.41%. Other expenses
rose from 17.89% to 18.90%.
Other income up 210.81% to Rs 17.25
crore. PBIDT rose 34.10% to Rs 67.36
crore. Provision for interest remained
nil.
PBDT rose 34.10% to Rs 67.36 crore. Provision for depreciation rose 6.59% to Rs
5.5 crore.
Profit before EO grew 37% to Rs 61.86
crore. The comapny reported EO income of
Rs 11.49 crore compared to nil EO items. PBT after EO rose 63% to Rs 73.35
crore. On 19th April 2023, the company surrendered the lease-hold land situated
at Murdi. Chinchwad, Pune together with the structure standing thereon as is
where Is basis as regards the physlcat attributes thereof, to Greaves cotton
Limited and terminated the leases against a consideration of Rs. 12 crore plus
applicable taxes. The profit on the surrender of the said lease is Rs. 11.485
crore. The same is disclosed under the exceptional 1tem above.
Provision for tax was expense of Rs 16.68
crore, compared to Rs 11.36 crore.
Effective tax rate was 22.74% compared to 25.21%.
Profit after tax rose 68.11% to Rs 56.67
crore.
Promoters’ stake was 74.98% as of 30
September 2023 ,compared to 74.98% as of 30 September 2022 .
The scrip is currently trading at Rs 3669.
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Foseco India : Standalone 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
(09)
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2209
(09)
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Var.
(%)
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2212
(12)
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2112
(12)
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Var.
(%)
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Net
Sales
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123.19
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102.54
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20
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355.09
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301.03
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18
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406.74
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338.01
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20
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OPM
(%)
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13.1
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14.6
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14.1
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14.8
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15.4
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12.9
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OP
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16.16
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14.96
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8
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50.11
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44.68
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12
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62.75
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43.59
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44
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Other
Inc.
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6.62
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1.67
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296
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17.25
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5.55
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211
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7.48
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5.61
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33
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PBIDT
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22.78
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16.63
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37
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67.36
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50.23
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34
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70.23
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49.2
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43
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Interest
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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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PBDT
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22.78
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16.63
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37
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67.36
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50.23
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34
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70.23
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49.2
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43
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Depreciation
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1.89
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1.9
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-1
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5.5
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5.16
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7
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8.9
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5.88
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51
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PBT
before EO
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20.89
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14.73
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42
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61.86
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45.07
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37
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61.33
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43.32
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42
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EO
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0.00
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0.00
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11.49
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0.00
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0.00
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0.00
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PBT
after EO
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20.89
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14.73
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42
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73.35
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45.07
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63
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61.33
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43.32
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42
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Taxation
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6.12
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3.8
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61
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16.68
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11.36
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47
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15.36
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10.65
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44
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PAT
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14.77
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10.93
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35
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56.67
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33.71
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68
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45.97
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32.67
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41
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PPA
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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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Net Profit
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14.77
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10.93
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35
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56.67
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33.71
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68
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45.97
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32.67
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41
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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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71.9
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51.1
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Notes
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*
EPS is on current equity of Rs 6.39 crore, Face value of Rs 10, 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 |
Foseco India
(
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23:43
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(
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28-Jan-23
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(
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01-Jul-23
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(
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17-Oct-18
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(
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27-May-20
19:39
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(
Corporate News
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04-Oct-21
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