For
the quarter ending March 2024, consolidated Net sales (including other operating income) of Banco Products (India) has increased 18.80% to Rs 723.87 crore compared to quarter ended March 2023. Operating profit margin has declined from 16.13% to 15.76%, leading to 16.07% rise in operating profit to Rs 114.05 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 52.25% to 59.94%. Employee cost decreased from 11.67% to 10.34%. Other expenses fell from 19.22% to 14.55%. Other income rose 113.25% to Rs 6.44 crore. PBIDT rose 18.97% to Rs 120.49 crore. Provision for interest fell 8.88% to Rs 6.57 crore. Loan funds rose to Rs 422.97 crore as of 31 March 2024 from Rs 417.57 crore as of 31 March 2023. Inventories declined from Rs 994.89 crore as of 31 March 2023 to Rs 922.04 crore as of 31 March 2024. Sundry debtors were higher at Rs 480.94 crore as of 31 March 2024 compared to Rs 413.49 crore as of 31 March 2023. Cash and bank balance rose to Rs 63.46 crore as of 31 March 2024 from Rs 18.33 crore as of 31 March 2023.
PBDT rose 21.10% to Rs 113.92 crore. Provision for depreciation rose 41.79% to Rs 28.33 crore. Fixed assets increased to Rs 460.68 crore as of 31 March 2024 from Rs 369.00 crore as of 31 March 2023. Intangible assets declined from Rs 8.52 crore to Rs 3.19 crore.
Profit before tax grew 15.52% to Rs 85.59 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 17.43 crore, compared to Rs 23.06 crore. Effective tax rate was 20.36% compared to 31.12%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 33.57% to Rs 68.16 crore. Equity capital stood at Rs 14.30 crore as of 31 March 2024 to Rs 14.30 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 31 March 2024 ,compared to 67.88% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Banco Products (India) has increased 18.72% to Rs 2768.43 crore. Operating profit margin has declined from 15.61% to 15.25%, leading to 16% rise in operating profit to Rs 422.32 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 61.06% to 56.68%. Employee cost increased from 8.98% to 10.47%. Other expenses rose from 15.70% to 17.16%. Other income rose 140.62% to Rs 37.73 crore. PBIDT rose 21.14% to Rs 460.05 crore. Provision for interest rose 69.79% to Rs 21.36 crore. Loan funds rose to Rs 422.97 crore as of 31 March 2024 from Rs 417.57 crore as of 31 March 2023. Inventories declined from Rs 994.89 crore as of 31 March 2023 to Rs 922.04 crore as of 31 March 2024. Sundry debtors were higher at Rs 480.94 crore as of 31 March 2024 compared to Rs 413.49 crore as of 31 March 2023. Cash and bank balance rose to Rs 63.46 crore as of 31 March 2024 from Rs 18.33 crore as of 31 March 2023.
PBDT rose 19.48% to Rs 438.69 crore. Provision for depreciation rose 34.85% to Rs 75.99 crore. Fixed assets increased to Rs 460.68 crore as of 31 March 2024 from Rs 369.00 crore as of 31 March 2023. Intangible assets declined from Rs 8.52 crore to Rs 3.19 crore.
Profit before tax grew 16.69% to Rs 362.70 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 91.3 crore, compared to Rs 75.25 crore. Effective tax rate was 25.17% compared to 24.21%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 15.21% to Rs 271.40 crore.
Equity capital stood at Rs 14.30 crore as of 31 March 2024 to Rs 14.30 crore as of 31 March 2023. Per share face Value remained same at Rs 2.00.
Promoters’ stake was 67.88% as of 31 March 2024 ,compared to 67.88% as of 31 March 2023 .
| Banco Products (India) : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 723.87 | 609.30 | 18.80 | 2,768.43 | 2,331.82 | 18.72 | | OPM (%) | 15.76 | 16.13 | -37 bps | 15.25 | 15.61 | -36 bps | | OP | 114.05 | 98.26 | 16.07 | 422.32 | 364.08 | 16.00 | | Other Inc. | 6.44 | 3.02 | 113.25 | 37.73 | 15.68 | 140.62 | | PBIDT | 120.49 | 101.28 | 18.97 | 460.05 | 379.76 | 21.14 | | Interest | 6.57 | 7.21 | -8.88 | 21.36 | 12.58 | 69.79 | | PBDT | 113.92 | 94.07 | 21.10 | 438.69 | 367.18 | 19.48 | | Depreciation | 28.33 | 19.98 | 41.79 | 75.99 | 56.35 | 34.85 | | PBT | 85.59 | 74.09 | 15.52 | 362.7 | 310.83 | 16.69 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 85.59 | 74.09 | 15.52 | 362.7 | 310.83 | 16.69 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 85.59 | 74.09 | 15.52 | 362.7 | 310.83 | 16.69 | | Taxation | 17.43 | 23.06 | -24.41 | 91.3 | 75.25 | 21.33 | | PAT | 68.16 | 51.03 | 33.57 | 271.4 | 235.58 | 15.21 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 68.16 | 51.03 | 33.57 | 271.4 | 235.58 | 15.21 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 68.16 | 51.03 | 33.57 | 271.4 | 235.58 | 15.21 | | EPS (Rs)* | 9.53 | 7.14 | 33.57 | 37.95 | 32.94 | 15.21 | | | * EPS is on current equity of Rs 14.30 crore, Face value of Rs 2, 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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