Capitaline

Results 13-Nov-21

Analysis

Power Mech Projects

Sales up 56%

Consolidated net sales (including other operating income) of Power Mech Projects has increased 56.15% to Rs 539.33 crore with execution picks up momentum on an empirically a weak quarter. Operating profit margin (OPM) has turned from negative 12.3% to positive 10.7%, Operating profit for the quarter stood at Rs 57.78 crore compared to loss of Rs 42.65 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 13.72% to 14.07%. Employee cost decreased from 22.16% to 17.19%. Other expenses fell from 76.40% to 58.07%. Selling and administration expenses fell from 74.69% to 56.97%. Construction development cost fell from 74.69% to 56.97%. Other income rose 129.63% to Rs 4.96 crore. PBIDT stood at Rs 62.74 crore compared to loss of Rs 40.49 crore. Provision for interest fell 11.54% to Rs 16.87 crore. PBDT stood at Rs 45.87 crore compared to loss of Rs 59.56 crore. Provision for depreciation rose 6.54% to Rs 9.29 crore. Profit before tax reported profit of Rs 36.58 crore compared to loss of Rs 68.28 crore. Provision for tax was debit of Rs 7.6 crore, compared to credit of Rs 15.37 crore. Effective tax rate was 21.93% compared to 21.81%. PAT was Rs 28.98 crore against a loss of Rs 52.91 crore. Share of profit/loss was 12.27% higher at Rs -1.93 crore. Minority interest increased 99.09% to Rs -0.03 crore. Thus the net profit after MI was a profit of Rs 27.08 crore agains a loss of Rs 51.80 crore.

Half Yearly performance

Net sales (including other operating income) of Power Mech Projects has increased 87.33% to Rs 1162.18 crore. Operating profit margin (OPM) has turned from negative 9.11% to positive 10.65%, Operating profit for the quarter stood at Rs 123.81 crore compared to loss of Rs 56.51 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 13.61% to 12.78%. Employee cost decreased from 23.38% to 16.15%. Other expenses fell from 72.05% to 60.44%. Selling and administration expenses fell from 69.95% to 59.38%. Construction development cost fell from 69.95% to 59.38%. Other income rose 153.62% to Rs 10.17 crore. PBIDT stood at Rs 133.98 crore compared to loss of Rs 52.5 crore. Provision for interest fell 7.23% to Rs 36.06 crore. PBDT stood at Rs 97.92 crore compared to loss of Rs 91.37 crore. Provision for depreciation rose 2.18% to Rs 18.31 crore. Profit before tax reported profit of Rs 79.61 crore compared to loss of Rs 109.29 crore. Provision for tax was debit of Rs 17.88 crore, compared to credit of Rs 26.38 crore. Effective tax rate was 23.41% compared to 23.10%. Thus PAT was a profit of RS 61.73 crore against a loss of Rs 82.91 crore. Share of profit/loss was 33.95% higher at Rs -3.23 crore. Minority interest increased 99.41% to Rs -0.02 crore. Netprofit after MI was a profit of Rs 58.52 crore against a loss of RS 84.39 crore.

Other developments

Equity capital stood at Rs 14.71 crore as of 30 September 2021 to Rs 14.71 crore as of 30 September 2020. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 63.70% as of 30 September 2021 ,compared to 62.58% as of 30 September 2020 .

Loan funds rose to Rs 565.16 crore as of 30 September 2021 from Rs 537.29 crore as of 30 September 2020. Inventories declined from Rs 126.25 crore as of 30 September 2020 to Rs 121.87 crore as of 30 September 2021. Sundry debtors were higher at Rs 484.38 crore as of 30 September 2021 compared to Rs 432.14 crore as of 30 September 2020. Cash and bank balance declined from Rs 116.87 crore as of 30 September 2020 to Rs 74.36 crore as of 30 September 2021. Investments rose to Rs 40.94 crore as of 30 September 2021 from Rs 28.26 crore as of 30 September 2020 . Fixed assets increased to Rs 173.37 crore as of 30 September 2021 from Rs 172.42 crore as of 30 September 2020. Intangible assets declined from Rs 2.59 crore to Rs 2.52 crore.

Power Mech Projects: Consolidated Results
	2109 (3)	2009 (3)	Var. (%)	2109 (6)	2009 (6)	Var. (%)	2103 (12)	2003 (12)	Var. (%)
Sales	539.33	345.39	56	1162.18	620.40	87	1884.09	2164.68	-13
OPM (%)	10.7	-12.3		10.7	-9.1		2.2	12.5
OP	57.78	-42.65	LP	123.81	-56.51	LP	41.88	270.75	-85
Other inc.	4.96	2.16	130	10.17	4.01	154	16.34	9.34	75
PBIDT	62.74	-40.49	LP	133.98	-52.50	LP	58.21	280.09	-79
Interest	16.87	19.07	-11	36.06	38.87	-7	79.25	74.06	7
PBDT	45.87	-59.55	LP	97.92	-91.36	LP	-21.04	206.03	-110
Dep.	9.29	8.72	7	18.31	17.92	2	35.77	39.42	-9
PBT	36.58	-68.28	LP	79.61	-109.29	LP	-56.80	166.61	PL
Taxation	7.60	-15.37	PL	17.88	-26.38	PL	-11.33	37.48	LP
PAT	28.98	-52.91	LP	61.73	-82.91	LP	-45.47	129.13	PL
Share of Profit/(Loss) from Associates	-1.93	-2.20	-12	-3.23	-4.89	-34	-3.09	1.57	PL
Minority Interest (MI)	-0.03	-3.31	-99	-0.02	-3.41	-100	-2.97	-0.58	415
Net profit	27.08	-51.80	LP	58.52	-84.39	LP	-45.59	131.28	PL
EPS (Rs)*	#	#		#	#		-31.0	89.2
* EPS is on current equity of Rs 14.711 crore, Face value of Rs 10
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database

Previous News

Power Mech Projects consolidated net profit rises 53.95% in the December 2022 quarter
( Results - Announcements 07-Feb-23 16:31 )

Power Mech Projects wins order worth Rs 355 cr
( Corporate News - 31-Oct-23 20:01 )

Power Mech Projects wins projects worth Rs 720 cr
( Corporate News - 24-Apr-23 19:15 )

Power Mech Projects to discuss results
( Corporate News - 03-Aug-23 14:49 )

Power Mech edges higher after bagging order worth Rs 396 crore from SE Central Railway
( Hot Pursuit - 27-Feb-24 09:37 )

Power Mech Projects consolidated net profit declines 10.40% in the March 2020 quarter
( Results - Announcements 27-Jun-20 20:05 )

Power Mech Projects consolidated net profit rises 13.75% in the March 2021 quarter
( Results - Announcements 17-Jun-21 16:15 )

Power Mech bags multiple orders worth Rs 724 cr
( Hot Pursuit - 25-Aug-23 10:57 )

Power Mech Projects
( Analyst Meet / AGM - Conference Call 17-Nov-22 14:34 )

Power Mech Projects spurts on securing Rs 30,438-cr project from SAIL
( Hot Pursuit - 31-Jul-23 10:20 )

Power Mech Projects
( Results - Analysis 14-Nov-20 17:11 )