Vesuvius India
standalone net sales increased 19.64% to Rs 416.79 crore in Q3FY24 compared to
Q3FY23. Operating profit margin has jumped from 11.35% to 19.20%, leading to
102.40% rise in operating profit to Rs 80.01 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 38.21% to 36.93%. Purchase of finished goods cost fell from
22.80% to 18.86%. Employee cost
decreased from 7.16% to 6.75%. Other
expenses fell from 20.61% to 18.77%.
Other income up
13.68% to Rs 7.48 crore. PBIDT rose
89.74% to Rs 87.49 crore. Provision for
interest remained nil.
PBDT rose 89.11% to
Rs 87.2 crore. Provision for
depreciation rose 22.18% to Rs 10.74 crore.
Profit before tax
grew 104.88% to Rs 76.46 crore.
Provision for tax was expense of Rs 19.39 crore, compared to Rs 9.68
crore. Effective tax rate was 25.36%
compared to 25.94%.
Profit after tax rose
106.48% to Rs 57.07 crore.
Promoters’ stake was
55.57% as of 31 December 2023 ,compared to 55.57% as of 31 December 2022.
Full year results analysis
Net sales of Vesuvius
India has increased 19% to Rs 1603.13 crore.
Operating profit margin has jumped from 12.2% to 17.9%, leading to 75%
rise in operating profit to Rs 286.85 crore.
Other income was up
53% to Rs 34.9 crore. PBIDT rose 72% to
Rs 321.75 crore. Provision for interest
was Rs 43 lakh compared to nil.
PBDT rose 72% to Rs
321.32 crore. Provision for depreciation
rose 20% to Rs 35.92 crore.
Profit before tax
grew 82% to Rs 285.4 crore. Provision
for tax was expense of Rs 72.46 crore compared to Rs 40.07 crore. Effective tax rate was 25% compared to 26%.
Profit after tax rose
82% to Rs 212.94 crore.
The scrip is
currently trading at Rs 3665
Vesuvius India: Result
|
|
2312 (03)
|
2212 (03)
|
Var.(%)
|
2312 (12)
|
2212 (12)
|
Var(%)
|
Net Sales
|
416.79
|
348.37
|
20
|
1603.13
|
1342.58
|
19
|
OPM(%)
|
19.2
|
11.3
|
|
17.9
|
12.2
|
|
OP
|
80.01
|
39.53
|
102
|
286.85
|
163.86
|
75
|
Other Income
|
7.48
|
6.58
|
14
|
34.90
|
22.86
|
53
|
PBIDT
|
87.49
|
46.11
|
90
|
321.75
|
186.72
|
72
|
Interest
|
0.29
|
0.00
|
|
0.43
|
0.00
|
|
PBDT
|
87.20
|
46.11
|
89
|
321.32
|
186.72
|
72
|
Depreciation
|
10.74
|
8.79
|
22
|
35.92
|
29.86
|
20
|
PBT
|
76.46
|
37.32
|
105
|
285.40
|
156.86
|
82
|
EO
|
0.00
|
0.00
|
|
0.00
|
0.00
|
|
PBT after EO
|
76.46
|
37.32
|
105
|
285.40
|
156.86
|
82
|
Total Tax provision
|
19.39
|
9.68
|
100
|
72.46
|
40.07
|
81
|
PAT
|
57.07
|
27.64
|
106
|
212.94
|
116.79
|
82
|
EPS*
|
#
|
#
|
|
104.9
|
57.5
|
|
* Annualized On Current
Equity Of Rs 20.30 Crore of face value of Rs 10 each
|
# EPS not annualised due to
seasonality of the business
|
EO: Extraordinary Items
|
EPS Is Calculated After
Excluding EO And Relevant Tax
|
Figures In Rs Crore
|
Source: Capitaline Database
|
|