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Results
10-May-24
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Analysis
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Aarti Industries
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NP down 11%
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Consolidated net sales (including other operating income)
of Aarti Industries has increased 7.07% to Rs 1773 crore. Operating profit margin has jumped from
15.28% to 15.96%, leading to 11.86% rise in operating profit to Rs 283.00
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 53.70% to 58.35%. Purchase of finished goods cost fell from
4.19% to 3.83%. Employee cost decreased
from 6.61% to 5.39%. Other expenses
fell from 20.15% to 17.19%.
PBIDT
rose 11.86% to Rs 283 crore. Provision
for interest rose 78.79% to Rs 59 crore.
Loan funds rose to Rs 3,242.00 crore as of 31 March 2024 from Rs
2,907.00 crore as of 31 March 2023.
Inventories rose to Rs 1,160.00 crore as of 31 March 2024 from Rs 1,031.00
crore as of 31 March 2023. Sundry
debtors were lower at Rs 826.00 crore as of 31 March 2024 compared to Rs 940.00
crore as of 31 March 2023. Cash and bank
balance declined from Rs 200.00 crore as of 31 March 2023 to Rs 130.00 crore as
of 31 March 2024. Investments rose to Rs
23.00 crore as of 31 March 2024 from Rs 17.00 crore as of 31 March 2023 .
PBDT
rose 1.82% to Rs 224 crore. Provision
for depreciation rose 16.67% to Rs 98 crore.
Fixed assets increased to Rs 6,693.00 crore as of 31 March 2024 from Rs
5,848.00 crore as of 31 March 2023.
Intangible assets increased from Rs 108.00 crore to Rs 185.00
crore.
Profit
before tax down 7.35% to Rs 126.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 6 crore,
compared to credit of Rs 13 crore.
Effective tax rate was negative 4.76% compared to negative 9.56%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 11.41% to Rs
132.00 crore.
Equity
capital stood at Rs 181.00 crore as of 31 March 2024 to Rs 181.00 crore as of
31 March 2023. Per share face Value
remained same at Rs 5.00.
Promoters’
stake was 43.43% as of 31 March 2024 ,compared to 44.07% as of 31 March 2023
. Promoters pledged stake was 3.68% as
of 31 March 2024
Full year results
analysis
Net
sales (including other operating income) of Aarti Industries has declined 3.73%
to Rs 6372 crore. Operating profit margin has declined from 16.47% to 15.30%,
leading to 10.55% decline in operating profit to Rs 975.00 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 52.83% to 58.30%. Purchase of finished goods cost fell from
4.79% to 3.15%. Employee cost increased
from 5.88% to 6.25%. Other expenses
fell from 19.87% to 17.21%.
PBIDT
fell 9.72% to Rs 984 crore. Provision
for interest rose 25.60% to Rs 211 crore.
Loan funds rose to Rs 3,242.00 crore as of 31 March 2024 from Rs
2,907.00 crore as of 31 March 2023.
Inventories rose to Rs 1,160.00 crore as of 31 March 2024 from Rs
1,031.00 crore as of 31 March 2023.
Sundry debtors were lower at Rs 826.00 crore as of 31 March 2024
compared to Rs 940.00 crore as of 31 March 2023. Cash and bank balance declined from Rs 200.00
crore as of 31 March 2023 to Rs 130.00 crore as of 31 March 2024. Investments rose to Rs 23.00 crore as of 31
March 2024 from Rs 17.00 crore as of 31 March 2023 .
PBDT
fell 16.16% to Rs 773 crore. Provision
for depreciation rose 21.94% to Rs 378 crore.
Fixed assets increased to Rs 6,693.00 crore as of 31 March 2024 from Rs
5,848.00 crore as of 31 March 2023.
Intangible assets increased from Rs 108.00 crore to Rs 185.00
crore.
Profit
before tax down 35.46% to Rs 395.00 crore.
Share of profit/loss were nil in both the periods. Provision for tax was credit of Rs 21 crore,
compared to debit of Rs 67 crore.
Effective tax rate was negative 5.32% compared to 10.95%.
Minority
interest was nil in both the periods.
Net profit attributable to owners of the company decreased 23.67% to Rs
416.00 crore.
Equity
capital stood at Rs 181.00 crore as of 31 March 2024 to Rs 181.00 crore as of
31 March 2023. Per share face Value
remained same at Rs 5.00.
Promoters’
stake was 43.43% as of 31 March 2024 ,compared to 44.07% as of 31 March 2023
. Promoters pledged stake was 3.68% as
of 31 March 2024
Cash
flow from operating activities decreased to Rs 1,204.00 crore for year ended
March 2024 from Rs 1,319.00 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 1,328.00 crore, compared to Rs
1,326.00 crore during the year ended March 2023.
The
scrip trades at Rs 672
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Aarti Industries : Consolidated
Results
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Particulars
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2403 (03)
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2303 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales (including other operating income)
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1,773
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1,656
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7
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6,372
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6,619
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-4
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OPM (%)
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16.0
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15.3
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15.3
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16.5
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OP
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283
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253
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12
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975
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1,090
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-11
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Other Inc.
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0
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0
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-
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9
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0
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-
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PBIDT
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283
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253
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12
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984
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1,090
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-10
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Interest
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59
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33
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79
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211
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168
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26
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PBDT
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224
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220
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2
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773
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922
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-16
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Depreciation
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98
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84
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17
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378
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310
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22
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PBT
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126
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136
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-7
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395
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612
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-35
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Share of Profit/(Loss) from Associates
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0
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0
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-
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0
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0
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-
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PBT before EO
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126
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136
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-7
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395
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612
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-35
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EO Income
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0
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0
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-
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0
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0
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-
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PBT after EO
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126
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136
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-7
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395
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612
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-35
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Taxation
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-6
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-13
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54
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-21
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67
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LP
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PAT
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132
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149
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-11
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416
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545
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-24
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Minority Interest (MI)
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0
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0
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-
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0
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0
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-
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Net profit
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132
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149
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-11
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416
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545
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-24
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EPS (Rs)*
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#
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#
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11.5
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15.0
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Notes
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* EPS is on current equity of Rs 181.25 crore, Face value of Rs
5, 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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