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Consolidated net sales (including other operating income) of Deep Industries has increased 15.66% to Rs 119.66 crore. Operating profit margin has declined from 40.57% to 31.62%, leading to 9.84% decline in operating profit to Rs 37.84 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.41% to 43.56%. Employee cost increased from 10.71% to 10.97%. Other expenses rose from 13.96% to 14.82%. Other income rose 117.44% to Rs 11.22 crore. PBIDT rose 4.10% to Rs 49.06 crore. Provision for interest rose 2.46% to Rs 2.92 crore. PBDT rose 4.20% to Rs 46.14 crore. Provision for depreciation fell 21.12% to Rs 7.06 crore. Profit before tax grew 10.61% to Rs 39.08 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs 0.57 crore. Provision for tax was expense of Rs 2.97 crore, compared to Rs 7.76 crore. Effective tax rate was 7.49% compared to 9.70%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 50.01% to Rs 36.12 crore. Full year results analysis.
Net sales (including other operating income) of Deep Industries has increased 25.09% to Rs 426.99 crore. Operating profit margin has declined from 38.25% to 37.33%, leading to 22.11% rise in operating profit to Rs 159.41 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 38.52% to 42.03%. Employee cost increased from 10.76% to 11.27%. Other expenses fell from 9.90% to 9.37%. Other income rose 216.71% to Rs 35.63 crore. PBIDT rose 37.55% to Rs 195.04 crore. Provision for interest rose 61.76% to Rs 8.46 crore. PBDT rose 36.62% to Rs 186.58 crore. Provision for depreciation rose 16.11% to Rs 34.37 crore. Profit before tax grew 42.29% to Rs 152.21 crore. Share of profit/loss were nil in both the periods. Extraordinary items were decreased to Rs 1.58 crore. Provision for tax was expense of Rs 28.63 crore, compared to Rs 26.36 crore. Effective tax rate was 18.62% compared to 17.38%. Minority interest decreased 85.91% to Rs 1.31 crore. Net profit attributable to owners of the company increased 6.77% to Rs 123.85 crore. Equity capital stood at Rs 32.00 crore as of 31 March 2024 to Rs 32.00 crore as of 31 March 2023. Per share face Value remained same at Rs 5.00. Recommended Final Dividend of Rs. 2.44/- i.e. 49% on the face value of Rs. 5/- per equity share, subject
to approval of the Shareholders of the Company at the ensuing Annual General Meeting for the
Financial year ended on March 31, 2024. Promoters’ stake was 63.49% as of 31 March 2024 ,compared to 63.49% as of 31 March 2023 . Loan funds rose to Rs 159.69 crore as of 31 March 2024 from Rs 69.87 crore as of 31 March 2023. Inventories rose to Rs 49.40 crore as of 31 March 2024 from Rs 45.70 crore as of 31 March 2023. Sundry debtors were higher at Rs 276.69 crore as of 31 March 2024 compared to Rs 252.28 crore as of 31 March 2023. Cash and bank balance rose to Rs 55.46 crore as of 31 March 2024 from Rs 42.80 crore as of 31 March 2023. Investments rose to Rs 141.70 crore as of 31 March 2024 from Rs 48.34 crore as of 31 March 2023 . Fixed assets increased to Rs 813.83 crore as of 31 March 2024 from Rs 642.00 crore as of 31 March 2023. Intangible assets declined from Rs 384.97 crore to Rs 384.89 crore. Cash flow from operating activities increased to Rs 180.40 crore for year ended March 2024 from Rs 88.11 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 216.30 crore, compared to Rs 113.39 crore during the year ended March 2023.
| Deep Industries : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 119.66 | 103.46 | 15.66 | 426.99 | 341.34 | 25.09 | | OPM (%) | 31.62 | 40.57 | -894 bps | 37.33 | 38.25 | -91 bps | | OP | 37.84 | 41.97 | -9.84 | 159.41 | 130.55 | 22.11 | | Other Inc. | 11.22 | 5.16 | 117.44 | 35.63 | 11.25 | 216.71 | | PBIDT | 49.06 | 47.13 | 4.10 | 195.04 | 141.80 | 37.55 | | Interest | 2.92 | 2.85 | 2.46 | 8.46 | 5.23 | 61.76 | | PBDT | 46.14 | 44.28 | 4.20 | 186.58 | 136.57 | 36.62 | | Depreciation | 7.06 | 8.95 | -21.12 | 34.37 | 29.6 | 16.11 | | PBT | 39.08 | 35.33 | 10.61 | 152.21 | 106.97 | 42.29 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 39.08 | 35.33 | 10.61 | 152.21 | 106.97 | 42.29 | | EO Income | 0.57 | 44.69 | -98.72 | 1.58 | 44.69 | -96.46 | | PBT after EO | 39.65 | 80.02 | -50.45 | 153.79 | 151.66 | 1.40 | | Taxation | 2.97 | 7.76 | -61.73 | 28.63 | 26.36 | 8.61 | | PAT | 36.68 | 72.26 | -49.24 | 125.16 | 125.3 | -0.11 | | Minority Interest (MI) | 0.56 | 0 | - | 1.31 | 9.3 | -85.91 | | Net profit | 36.12 | 72.26 | -50.01 | 123.85 | 116 | 6.77 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 36.12 | 72.26 | -50.01 | 123.85 | 116 | 6.77 | | EPS (Rs)* | 5.56 | 4.98 | 11.60 | 19.15 | 12.78 | 49.82 | | | * EPS is on current equity of Rs 32.00 crore, Face value of Rs 5, 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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