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Consolidated net sales (including other operating income) of Godrej Properties for the quarter ended Sep 2023 has increased 107.77% to Rs 343 crore. Operating profit margin has jumped from negative 40.83% to negative 17.98%, leading to 8.52% rise in operating profit to Rs -61.66 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 86.37% to 81.19%. Employee cost increased from 4.89% to 7.60%. Other expenses rose from 17.52% to 17.61%. Other income rose 28.42% to Rs 262.11 crore. PBIDT rose 46.62% to Rs 200.45 crore. Provision for interest rose 18.34% to Rs 48.01 crore. PBDT rose 58.56% to Rs 152.44 crore. Provision for depreciation rose 31.73% to Rs 7.39 crore.
Profit before tax grew 60.22% to Rs 145.05 crore. Share of profit/loss was 20.42% higher at Rs -33.63 crore. Provision for tax was debit of Rs 38.78 crore, compared to credit of Rs 18.76 crore. Effective tax rate was 34.81% compared to negative 38.86%. Minority interest decreased 51.62% to Rs 5.84 crore. Net profit attributable to owners of the company increased 21.54% to Rs 66.80 crore. For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Godrej Properties has increased 212.16% to Rs 1279.09 crore.
Operating profit margin has jumped from negative 19.91% to negative 16.49%, leading to 158.44% decline in operating profit to Rs -210.86 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 87.23% to 81.35%. Employee cost increased from 3.84% to 5.66%. Other expenses rose from 13.28% to 22.00%. Other income rose 53.43% to Rs 592 crore. PBIDT rose 25.27% to Rs 381.14 crore. Provision for interest rose 3.50% to Rs 77.68 crore. Loan funds rose to Rs 10,262.47 crore as of 30 September 2023 from Rs 5,382.35 crore as of 30 September 2022. Inventories rose to Rs 17,028.75 crore as of 30 September 2023 from Rs 7,142.64 crore as of 30 September 2022. Sundry debtors were higher at Rs 401.85 crore as of 30 September 2023 compared to Rs 212.89 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,366.21 crore as of 30 September 2023 from Rs 908.56 crore as of 30 September 2022. Investments declined from Rs 4,489.39 crore as of 30 September 2022 to Rs 4,372.87 crore as of 30 September 2023. PBDT rose 32.40% to Rs 303.46 crore. Provision for depreciation rose 29.24% to Rs 14.32 crore. Fixed assets increased to Rs 992.85 crore as of 30 September 2023 from Rs 596.41 crore as of 30 September 2022. Intangible assets declined from Rs 19.19 crore to Rs 15.41 crore. Profit before tax grew 32.56% to Rs 289.14 crore. Provision for tax was expense of Rs 98.01 crore, compared to Rs 13.89 crore. Effective tax rate was 32.20% compared to 11.18%.Minority interest increased 48.57% to Rs 14.59 crore. Net profit attributable to owners of the company increased 90.77% to Rs 191.74 crore. Equity capital increased from Rs 139.01 crore as of 30 September 2022 to Rs 139.02 crore as of 30 September 2023. Per share face Value remained same at Rs 5.00. Promoters’ stake was 58.48% as of 30 September 2023 ,compared to 58.48% as of 30 September 2022 . Cash flow from operating activities decreased to negative Rs -1,415.06 crore for YTD ended September 2023 from negative Rs -917.41 crore for YTD ended September 2022. Cash flow used in acquiring fixed assets during the YTD ended September 2023 stood at Rs 105.80 crore, compared to Rs 111.27 crore during the YTD ended September 2022.
Loan funds rose to Rs 10,262.47 crore as of 30 September 2023 from Rs 5,382.35 crore as of 30 September 2022. Inventories rose to Rs 17,028.75 crore as of 30 September 2023 from Rs 7,142.64 crore as of 30 September 2022. Sundry debtors were higher at Rs 401.85 crore as of 30 September 2023 compared to Rs 212.89 crore as of 30 September 2022. Cash and bank balance rose to Rs 1,366.21 crore as of 30 September 2023 from Rs 908.56 crore as of 30 September 2022. Investments declined from Rs 4,489.39 crore as of 30 September 2022 to Rs 4,372.87 crore as of 30 September 2023. Fixed assets increased to Rs 992.85 crore as of 30 September 2023 from Rs 596.41 crore as of 30 September 2022. Intangible assets declined from Rs 19.19 crore to Rs 15.41 crore.
| Godrej Properties : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202309 | 202209 | Var.(%) | 202309 | 202209 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 343.00 | 165.09 | 107.77 | 1,279.09 | 409.76 | 212.16 | 2,252.26 | 1,824.88 | 23.42 | | OPM (%) | -17.98 | -40.83 | 2,285 bps | -16.49 | -19.91 | 343 bps | 10.99 | 7.30 | 370 bps | | OP | -61.66 | -67.40 | 8.52 | -210.86 | -81.59 | -158.44 | 247.63 | 133.16 | 85.96 | | Other Inc. | 262.11 | 204.11 | 28.42 | 592.00 | 385.84 | 53.43 | 786.74 | 760.81 | 3.41 | | PBIDT | 200.45 | 136.71 | 46.62 | 381.14 | 304.25 | 25.27 | 1,034.37 | 893.97 | 15.71 | | Interest | 48.01 | 40.57 | 18.34 | 77.68 | 75.05 | 3.50 | 174.23 | 167.48 | 4.03 | | PBDT | 152.44 | 96.14 | 58.56 | 303.46 | 229.20 | 32.40 | 860.14 | 726.49 | 18.40 | | Depreciation | 7.39 | 5.61 | 31.73 | 14.32 | 11.08 | 29.24 | 24.14 | 21.43 | 12.65 | | PBT | 145.05 | 90.53 | 60.22 | 289.14 | 218.12 | 32.56 | 836 | 705.06 | 18.57 | | Share of Profit/(Loss) from Associates | -33.63 | -42.26 | 20.42 | 15.2 | -93.9 | LP | -40.73 | -188.73 | 78.42 | | PBT before EO | 111.42 | 48.27 | 130.83 | 304.34 | 124.22 | 145.00 | 795.27 | 516.33 | 54.02 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 111.42 | 48.27 | 130.83 | 304.34 | 124.22 | 145.00 | 795.27 | 516.33 | 54.02 | | Taxation | 38.78 | -18.76 | PL | 98.01 | 13.89 | 605.62 | 174.67 | 165.78 | 5.36 | | PAT | 72.64 | 67.03 | 8.37 | 206.33 | 110.33 | 87.01 | 620.6 | 350.55 | 77.04 | | Minority Interest (MI) | 5.84 | 12.07 | -51.62 | 14.59 | 9.82 | 48.57 | 49.21 | -1.82 | PL | | Net profit | 66.8 | 54.96 | 21.54 | 191.74 | 100.51 | 90.77 | 571.39 | 352.37 | 62.16 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 66.8 | 54.96 | 21.54 | 191.74 | 100.51 | 90.77 | 571.39 | 352.37 | 62.16 | | EPS (Rs)* | 2.40 | 1.38 | 74.55 | 6.90 | 3.62 | 90.77 | 20.55 | 12.67 | 62.16 | | | * EPS is on current equity of Rs 139.01 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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