For
the quarter ending Dec 2023, consolidated Net sales (including other operating income) of NDR Auto Components has increased 32.67% to Rs 140.27 crore compared to quarter ended Dec 2022. Operating profit margin has jumped from 7.06% to 9.23%, leading to 73.46% rise in operating profit to Rs 12.94 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 76.32% to 76.90%. Employee cost decreased from 3.31% to 2.98%. Other expenses fell from 13.57% to 10.95%. Other income fell 38.93% to Rs 0.8 crore. PBIDT rose 56.67% to Rs 13.74 crore. Provision for interest rose 37.74% to Rs 0.73 crore.
PBDT rose 57.89% to Rs 13.01 crore. Provision for depreciation rose 46.59% to Rs 3.87 crore.
Profit before tax grew 63.21% to Rs 9.14 crore. Share of profit/loss was 21.83% higher at Rs 1.73 crore. Provision for tax was expense of Rs 2.33 crore, compared to Rs 1.34 crore. Effective tax rate was 21.44% compared to 19.09%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 50.35% to Rs 8.54 crore. Promoters’ stake was 73.06% as of 31 December 2023 ,compared to 73.95% as of 31 December 2022 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of NDR Auto Components has increased 62.08% to Rs 425.52 crore.
Operating profit margin has jumped from 7.95% to 9.35%, leading to 90.57% rise in operating profit to Rs 39.79 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 74.87% to 76.95%. Employee cost decreased from 3.35% to 2.90%. Other expenses fell from 13.95% to 10.82%. Other income fell 24.43% to Rs 2.66 crore. PBIDT rose 73.98% to Rs 42.45 crore. Provision for interest rose 70.16% to Rs 2.11 crore.
PBDT rose 74.18% to Rs 40.34 crore. Provision for depreciation rose 92.62% to Rs 10.96 crore.
Profit before tax grew 68.17% to Rs 29.38 crore. Share of profit/loss was 1.74% higher at Rs 5.25 crore. Provision for tax was expense of Rs 7.53 crore, compared to Rs 4.49 crore. Effective tax rate was 21.74% compared to 19.84%.Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 49.39% to Rs 27.10 crore.
Promoters’ stake was 73.06% as of 31 December 2023 ,compared to 73.95% as of 31 December 2022 .
Full year results analysis.
Net sales (including other operating income) of NDR Auto Components has increased 68.90% to Rs 392.78 crore. Operating profit margin has jumped from 5.99% to 8.08%, leading to 127.69% rise in operating profit to Rs 31.74 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 76.06% to 75.65%. Employee cost decreased from 3.92% to 3.14%. Other expenses fell from 14.03% to 13.15%. Other income fell 18.05% to Rs 6.31 crore. PBIDT rose 75.83% to Rs 38.05 crore. Provision for interest rose 145.21% to Rs 1.79 crore. Loan funds rose to Rs 33.72 crore as of 31 March 2023 from Rs 12.97 crore as of 31 March 2022. Inventories rose to Rs 39.34 crore as of 31 March 2023 from Rs 21.26 crore as of 31 March 2022. Sundry debtors were higher at Rs 31.10 crore as of 31 March 2023 compared to Rs 30.46 crore as of 31 March 2022. Cash and bank balance rose to Rs 51.53 crore as of 31 March 2023 from Rs 51.45 crore as of 31 March 2022. Investments rose to Rs 50.51 crore as of 31 March 2023 from Rs 42.81 crore as of 31 March 2022 .
PBDT rose 73.41% to Rs 36.26 crore. Provision for depreciation rose 18.42% to Rs 8.68 crore. Fixed assets increased to Rs 146.66 crore as of 31 March 2023 from Rs 79.18 crore as of 31 March 2022. Intangible assets increased from Rs 0.15 crore to Rs 0.22 crore.
Profit before tax grew 103.09% to Rs 27.58 crore. Share of profit/loss was 63.52% higher at Rs 7.62 crore. Provision for tax was expense of Rs 7.09 crore, compared to Rs 3.35 crore. Effective tax rate was 20.14% compared to 18.37%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 88.78% to Rs 28.11 crore.
Equity capital stood at Rs 5.95 crore as of 31 March 2023 to Rs 5.95 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 73.95% as of 31 March 2023 ,compared to 73.95% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 48.18 crore for year ended March 2023 from Rs 0.55 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 46.42 crore, compared to Rs 29.25 crore during the year ended March 2022.
Other Highlights
Company
entered into business with Hyundai Transys, to commence work for seat-trim
solutions to Hyundai Transys. Board approved the capital expenditure of approx
Rs 8.18 crore towards existing product, “Trims” for this purpose.
Existing
capacity and utilization for trim sets is 13 lakh and approx. 75% respectively.
Proposed capacity addition is 0.61 lakh trim sets by FY25.
Additionally,
company has entered into a technical assistance agreement with Hayashi Telempu
for the supply of sun shade which it will supply to Maruti and Toyota
automobiles. Board approved the capital expenditure of approx. Rs 8.18 crore towards
this new programme. This new product will be manufactured at the Company’s
Plant situated at Bengaluru.