Capitaline

Operating profit margin has jumped from 9.11% to 10.24%, leading to 50.64% rise in operating profit to Rs 125.15 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.20% to 64.13%. Employee cost decreased from 9.04% to 7.45%. Other expenses rose from 17.79% to 18.70%.

Other income rose 56.39% to Rs 32.45 crore. PBIDT rose 51.79% to Rs 157.6 crore. Provision for interest remained nil.

PBDT rose 51.89% to Rs 157.6 crore. Provision for depreciation rose 38.56% to Rs 21.02 crore.

Profit before tax grew 54.17% to Rs 136.58 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 23.59 crore, compared to Rs 24.22 crore. Effective tax rate was 17.27% compared to 27.34%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 75.53% to Rs 112.99 crore.

Sales of Textile Machinery Division segment has gone up 42.27% to Rs 1,010.30 crore (accounting for 79.22% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 12.27% to Rs 241.14 crore (accounting for 18.91% of total sales). Sales of Advanced Technology Centre segment rose 82.71% to Rs 23.89 crore (accounting for 1.87% of total sales). Inter-segment sales rose Rs 23.21 crore to Rs 41.26 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 63.85% to Rs 123.11 crore. PBIT of Textile Machinery Division segment rose 87.78% to Rs 110.90 crore (accounting for 90.08% of total PBIT). PBIT of Machine Tool & Foundry Division segment fell 34.92% to Rs 13.07 crore (accounting for 10.62% of total PBIT). PBIT of Advanced Technology Centre segment rose 78.48% to Rs -0.86 crore (accounting for -0.70% of total PBIT).

PBIT margin of Textile Machinery Division segment rose from 8.32% to 10.98%. PBIT margin of Machine Tool & Foundry Division segment fell from 9.35% to 5.42%. PBIT margin of Advanced Technology Centre segment rose from negative 30.65% to negative 3.61%. Overall PBIT margin rose from 8.01% to 9.65%.

Nine month performance

Consolidated net sales (including other operating income) of Lakshmi Machine Works has increased 57.25% to Rs 3416.11 crore. Sales of Textile Machinery Division segment has gone up 68.23% to Rs 2,763.70 crore (accounting for 77.26% of total sales). Sales of Machine Tool & Foundry Division segment has gone up 30.89% to Rs 736.11 crore (accounting for 20.58% of total sales). Sales of Advanced Technology Centre segment rose 153.44% to Rs 77.11 crore (accounting for 2.16% of total sales). Inter-segment sales rose Rs 56.12 crore to Rs 123.12 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 187.68% to Rs 334.53 crore. PBIT of Textile Machinery Division segment rose 257.31% to Rs 289.36 crore (accounting for 86.50% of total PBIT). PBIT of Machine Tool & Foundry Division segment fell 15.07% to Rs 44.32 crore (accounting for 13.25% of total PBIT). PBIT of Advanced Technology Centre reported profit of Rs 0.85 crore compared to loss of Rs 16.89 crore.

PBIT margin of Textile Machinery Division segment rose from 4.93% to 10.47%. PBIT margin of Machine Tool & Foundry Division segment fell from 9.28% to 6.02%. PBIT margin of Advanced Technology Centre segment rose from negative 55.50% to 1.11%. Overall PBIT margin rose from 5.20% to 9.35%.

Operating profit margin has jumped from 7.19% to 9.69%, leading to 111.69% rise in operating profit to Rs 330.87 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 63.69% to 64.09%. Employee cost decreased from 10.40% to 8.07%. Other expenses fell from 18.83% to 18.44%.

Other income rose 87.07% to Rs 99.95 crore. PBIDT rose 105.42% to Rs 430.82 crore. Provision for interest remained nil.

PBDT rose 105.50% to Rs 430.82 crore. Provision for depreciation rose 26.55% to Rs 56 crore.

Profit before tax grew 126.63% to Rs 374.82 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 84.9 crore, compared to Rs 49.9 crore. Effective tax rate was 22.65% compared to 33.67%.

Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 194.87% to Rs 289.92 crore.

Promoters’ stake was 31.13% as of 31 December 2022 ,compared to 31.13% as of 31 December 2021 .

Quarter ended

Year to Date

Year ended

Particulars

202212

202112

Var.(%)

202212

202112

Var.(%)

202203

202103

Var.(%)

Net Sales (including other operating income)

1,221.58

911.76

33.98

3,416.11

2,172.46

57.25

3,170.95

1,727.38

83.57

OPM (%)

10.24

9.11

113 bps

9.69

7.19

249 bps

7.79

4.08

371 bps

125.15

83.08

50.64

330.87

156.30

111.69

246.96

70.44

250.60

Other Inc.

32.45

20.75

56.39

99.95

53.43

87.07

68.34

78.73

-13.20

PBIDT

157.60

103.83

51.79

430.82

209.73

105.42

315.30

149.17

111.37

Interest

0.07

0.09

0.08

12.50

PBDT

157.60

103.76

51.89

430.82

209.64

105.50

315.21

149.09

111.42

Depreciation

21.02

15.17

38.56

44.25

26.55

59.72

55.63

7.35

PBT

136.58

88.59

54.17

374.82

165.39

126.63

255.49

93.46

173.37

Share of Profit/(Loss) from Associates

PBT before EO

136.58

88.59

54.17

374.82

165.39

126.63

255.49

93.46

173.37

EO Income

-17.17

-22.12

22.38

PBT after EO

136.58

88.59

54.17

374.82

148.22

152.88

238.32

71.34

234.06

Taxation

23.59

24.22

-2.60

84.9

49.9

70.14

57.27

26.74

114.17

PAT

112.99

64.37

75.53

289.92

98.32

194.87

181.05

44.6

305.94

Minority Interest (MI)

Net profit

112.99

64.37

75.53

289.92

98.32

194.87

181.05

44.6

305.94

P/(L) from discontinued operations net of tax

Net profit after discontinued operations

112.99

64.37

75.53

289.92

98.32

194.87

181.05

44.6

305.94

EPS (Rs)*

105.77

60.25

75.53

271.38

102.70

164.26

181.68

54.69

232.23

* EPS is on current equity of Rs 10.68 crore, Face value of Rs 10, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

Quarter ended

Year to Date

Year ended

% of (Total)

202212

202112

Var.(%)

% of (Total)

202212

202112

Var.(%)

% of (Total)

202203

202103

Var.(%)

Sales

Textile Machinery Division

79.22

1,010.30

710.11

42.27

77.26

2,763.70

1,642.79

68.23

73.66

2,403.32

1,223.62

96.41

Machine Tool & Foundry Division

18.91

241.14

214.78

12.27

20.58

736.11

562.40

30.89

24.86

811.29

526.92

53.97

Advanced Technology Centre

1.87

23.89

13.07

82.71

2.16

77.11

30.42

153.44

1.48

48.29

28.88

67.22

Total Reported Sales

100.00

1,275.33

937.97

35.97

100.00

3,576.92

2,235.61

60.00

100.00

3,262.90

1,779.41

83.37

Less: Inter segment revenues

41.26

23.21

77.80

123.12

56.12

119.37

83.27

41.33

101.46

Net Sales

100.00

1,234.07

914.76

34.91

100.00

3,453.80

2,179.49

58.47

100.00

3,179.63

1,738.08

82.94

PBIT

Textile Machinery Division

90.08

110.90

59.06

87.78

86.50

289.36

80.98

257.31

72.46

144.21

13.99

930.88

Machine Tool & Foundry Division

10.62

13.07

20.08

-34.92

13.25

44.32

52.19

-15.07

36.87

73.39

36.37

101.76

Advanced Technology Centre

-0.70

-0.86

-4.01

78.48

0.25

0.85

-16.89

-9.33

-18.57

-25.87

28.23

Total PBIT

100.00

123.11

75.13

63.85

100.00

334.53

116.28

187.68

100.00

199.03

24.49

712.59

Less : Interest

0.00

Add: Other un-allcoable

13.48

13.46

0.18

40.29

31.94

26.16

39.29

46.84

-16.13

PBIT Margin(%)

Textile Machinery Division

10.98

8.32

266.02

10.47

4.93

554.04

6.00

1.14

485.73

Machine Tool & Foundry Division

5.42

9.35

-393.05

6.02

9.28

-325.85

9.05

6.90

214.28

Advanced Technology Centre

-3.61

-30.65

2,704.02

1.11

-55.50

5,660.71

-38.45

-89.57

5,112.83

PBT

100.00

136.59

88.59

54.18

100.00

374.82

148.22

152.88

100.00

238.32

71.33

234.09