 |
Results
13-Feb-22
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
ISGEC Heavy Engineering
|
|
Sales nearly flat dragged largely by lower EPC revenue
|
|
|
|
|
Consolidated net sales (including other operating income) of ISGEC Heavy Engineering for teh quarter ended Dec 2021 has increased 0.22% to Rs 1395.58 crore. Operating profit margin has jumped from 7.23% to 7.67%, leading to 6.39% rise in operating profit to Rs 107.07 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 18.35% to 28.03%. Purchase of finished goods cost fell from 42.72% to 34.46%. Employee cost increased from 6.94% to 7.95%. Other expenses fell from 24.76% to 22.14%. Other direct service cost fell from 12.46% to 10.56%. Other income fell 77.39% to Rs 7 crore. PBIDT fell 13.32% to Rs 114.07 crore. Provision for interest rose 13.93% to Rs 10.63 crore. PBDT fell 15.40% to Rs 103.44 crore. Profit before tax down 19.51% to Rs 77.69 crore. Provision for tax was expense of Rs 25.76 crore, compared to Rs 31.63 crore. Effective tax rate was 33.14% compared to 32.77%. Net profit attributable to owners of the company decreased 29.01% to Rs 47.03 crore.
- Sales of Manufactuirng of Machinery & Equipment segment has gone up 19.80% to Rs 424.08 crore (accounting for 29.05% of total sales). Sales of Engineering, Procurement and Construction segment has gone down 13.20% to Rs 852.76 crore (accounting for 58.42% of total sales). Sales of Sugar segment rose 16.77% to Rs 182.11 crore (accounting for 12.48% of total sales). Sales of Ethanol (Plant Under Construction) segment has gone down 62.16% to Rs 0.84 crore (accounting for 0.06% of total sales). Inter-segment sales came down from Rs 103.02 crore to Rs 64.67 crore.
- Profit before interest, tax and other unallocable items (PBIT) has slumped 16.20% to Rs 90.94 crore. PBIT of Manufactuirng of Machinery & Equipment segment rose 60.75% to Rs 36.86 crore (accounting for 40.53% of total PBIT). PBIT of Engineering, Procurement and Construction segment fell 30.83% to Rs 35.40 crore (accounting for 38.93% of total PBIT). PBIT of Sugar segment fell 33.24% to Rs 25.27 crore (accounting for 27.79% of total PBIT). PBIT of Ethanol (Plant Under Construction) segment fell 91.57% to Rs -6.59 crore (accounting for -7.25% of total PBIT).
- PBIT margin of Manufactuirng of Machinery & Equipment segment rose from 6.48% to 8.69%. PBIT margin of Engineering, Procurement and Construction segment fell from 5.21% to 4.15%. PBIT margin of Sugar segment fell from 24.27% to 13.88%. PBIT margin of Ethanol (Plant Under Construction) segment fell from negative 154.95% to negative 784.52%. Overall PBIT margin fell from 7.26% to 6.23%.
Nine month performance Net sales (including other operating income) of ISGEC Heavy Engineering has increased 2.50% to Rs 3903.19 crore. Sales of Manufactuirng of Machinery & Equipment segment has gone up 15.22% to Rs 1,156.31 crore (accounting for 28.42% of total sales). Sales of Engineering, Procurement and Construction segment has gone down 1.55% to Rs 2,419.69 crore (accounting for 59.48% of total sales). Sales of Sugar segment fell 9.79% to Rs 506.72 crore (accounting for 12.46% of total sales). Inter-segment sales came down from Rs 231.78 crore to Rs 165.40 crore. Profit before interest, tax and other unallocable items (PBIT) has slumped 46.60% to Rs 162.60 crore. PBIT of Manufactuirng of Machinery & Equipment segment fell 15.91% to Rs 74.79 crore (accounting for 46.00% of total PBIT). PBIT of Engineering, Procurement and Construction segment fell 53.19% to Rs 58.77 crore (accounting for 36.14% of total PBIT). PBIT of Sugar segment fell 33.99% to Rs 59.41 crore (accounting for 36.54% of total PBIT). PBIT of Ethanol (Plant Under Construction) segment fell 3,03,600.00% to Rs -30.37 crore (accounting for -18.68% of total PBIT). PBIT margin of Manufactuirng of Machinery & Equipment segment fell from 8.86% to 6.47%. PBIT margin of Engineering, Procurement and Construction segment fell from 5.11% to 2.43%. PBIT margin of Sugar segment fell from 16.02% to 11.72%. PBIT margin of Ethanol (Plant Under Construction) segment rose from negative 0.07% to 210.61%. Overall PBIT margin fell from 7.54% to 4.00%. Operating profit margin has declined from 8.75% to 5.25%, leading to 38.55% decline in operating profit to Rs 204.84 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 20.87% to 24.59%. Purchase of finished goods cost fell from 39.06% to 37.77%. Employee cost increased from 7.70% to 8.24%. Other expenses rose from 23.30% to 24.12%. Other direct service cost rose from 10.80% to 11.11%. Other income fell 71.17% to Rs 12.11 crore. PBIDT fell 42.20% to Rs 216.95 crore. Provision for interest fell 7.49% to Rs 33.34 crore. PBDT fell 45.88% to Rs 183.61 crore. Provision for depreciation fell 6.66% to Rs 73.95 crore. Profit before tax down 57.83% to Rs 109.66 crore. Share of profit/loss was 71.43% lower at Rs 0.04 crore. Provision for tax was expense of Rs 33.9 crore, compared to Rs 75.65 crore. Effective tax rate was 30.90% compared to 29.07%. Minority interest increased 3,750% to Rs 4.62 crore. Net profit attributable to owners of the company decreased 61.41% to Rs 71.18 crore. Promoters’ stake was 62.43% as of 31 December 2021 ,compared to 62.41% as of 31 December 2020 .
| ISGEC Heavy Engineering : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202112 | 202012 | Var.(%) | 202112 | 202012 | Var.(%) | 202103 | 202003 | Var.(%) |
|---|
| Net Sales (including other operating income) | 1,395.58 | 1,392.46 | 0.22 | 3,903.19 | 3,807.87 | 2.50 | 5,425.57 | 5,882.06 | -7.76 | | OPM (%) | 7.67 | 7.23 | 44 bps | 5.25 | 8.75 | -351 bps | 8.39 | 5.52 | 287 bps | | OP | 107.07 | 100.64 | 6.39 | 204.84 | 333.33 | -38.55 | 454.97 | 324.59 | 40.17 | | Other Inc. | 7.00 | 30.96 | -77.39 | 12.11 | 42.00 | -71.17 | 51.76 | 32.09 | 61.30 | | PBIDT | 114.07 | 131.60 | -13.32 | 216.95 | 375.33 | -42.20 | 506.73 | 356.68 | 42.07 | | Interest | 10.63 | 9.33 | 13.93 | 33.34 | 36.04 | -7.49 | 50.24 | 41.14 | 22.12 | | PBDT | 103.44 | 122.27 | -15.40 | 183.61 | 339.29 | -45.88 | 456.49 | 315.54 | 44.67 | | Depreciation | 25.75 | 25.75 | 0 | 73.95 | 79.23 | -6.66 | 100.86 | 101.19 | -0.33 | | PBT | 77.69 | 96.52 | -19.51 | 109.66 | 260.06 | -57.83 | 355.63 | 214.35 | 65.91 | | Share of Profit/(Loss) from Associates | 0.03 | -0.01 | LP | 0.04 | 0.14 | -71.43 | 0.18 | 0.1 | 80.00 | | PBT before EO | 77.72 | 96.51 | -19.47 | 109.7 | 260.2 | -57.84 | 355.81 | 214.45 | 65.92 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 77.72 | 96.51 | -19.47 | 109.7 | 260.2 | -57.84 | 355.81 | 214.45 | 65.92 | | Taxation | 25.76 | 31.63 | -18.56 | 33.9 | 75.65 | -55.19 | 102.74 | 65.32 | 57.29 | | PAT | 51.96 | 64.88 | -19.91 | 75.8 | 184.55 | -58.93 | 253.07 | 149.13 | 69.70 | | Minority Interest (MI) | 4.93 | -1.37 | PL | 4.62 | 0.12 | 3,750.00 | 5.22 | 4.62 | 12.99 | | Net profit | 47.03 | 66.25 | -29.01 | 71.18 | 184.43 | -61.41 | 247.85 | 144.51 | 71.51 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 47.03 | 66.25 | -29.01 | 71.18 | 184.43 | -61.41 | 247.85 | 144.51 | 71.51 | | EPS (Rs)* | 6.40 | 9.01 | -29.01 | 9.68 | 25.08 | -61.41 | 33.71 | 19.65 | 71.51 | | | * EPS is on current equity of Rs 7.35 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
| ISGEC Heavy Engineering : Consolidated Segment Results | | | Quarter ended | Year to Date | Year ended |
|---|
| % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202112 | 202012 | Var.(%) | % of (Total) | 202103 | 202003 | Var.(%) |
|---|
| Sales | | Manufactuirng of Machinery & Equipment | 29.05 | 424.08 | 353.98 | 19.80 | 28.42 | 1,156.31 | 1,003.58 | 15.22 | 26.87 | 1,562.84 | 1,612.58 | -3.08 | | Engineering, Procurement and Construction | 58.42 | 852.76 | 982.48 | -13.20 | 59.48 | 2,419.69 | 2,457.75 | -1.55 | 59.44 | 3,457.71 | 3,929.01 | -12.00 | | Sugar | 12.48 | 182.11 | 155.95 | 16.77 | 12.46 | 506.72 | 561.73 | -9.79 | 13.51 | 785.60 | 584.41 | 34.43 | | Ethanol (Plant Under Construction) | 0.06 | 0.84 | 2.22 | -62.16 | -0.35 | -14.42 | 15.21 | PL | 0.19 | 10.81 | 3.89 | 177.89 | | Total Reported Sales | 100.00 | 1,459.79 | 1,494.63 | -2.33 | 100.00 | 4,068.30 | 4,038.27 | 0.74 | 100.00 | 5,816.96 | 6,129.89 | -5.10 | | Less: Inter segment revenues | | 64.67 | 103.02 | -37.23 | | 165.40 | 231.78 | -28.64 | | 392.51 | 248.11 | 58.20 | | Net Sales | 100.00 | 1,395.12 | 1,391.61 | 0.25 | 100.00 | 3,902.90 | 3,806.49 | 2.53 | 100.00 | 5,424.45 | 5,881.78 | -7.78 | | PBIT | | Manufactuirng of Machinery & Equipment | 40.53 | 36.86 | 22.93 | 60.75 | 46.00 | 74.79 | 88.94 | -15.91 | 38.18 | 164.47 | 84.41 | 94.85 | | Engineering, Procurement and Construction | 38.93 | 35.40 | 51.18 | -30.83 | 36.14 | 58.77 | 125.55 | -53.19 | 40.02 | 172.37 | 151.62 | 13.69 | | Sugar | 27.79 | 25.27 | 37.85 | -33.24 | 36.54 | 59.41 | 90.00 | -33.99 | 23.82 | 102.59 | 48.30 | 112.40 | | Ethanol (Plant Under Construction) | -7.25 | -6.59 | -3.44 | -91.57 | -18.68 | -30.37 | -0.01 | -3,03,600.00 | -2.02 | -8.70 | -6.28 | -38.54 | | Total PBIT | 100.00 | 90.94 | 108.52 | -16.20 | 100.00 | 162.60 | 304.48 | -46.60 | 100.00 | 430.73 | 278.05 | 54.91 | | Less : Interest | | 9.00 | 8.44 | 6.64 | | 30.55 | 33.67 | -9.27 | | 44.22 | 37.94 | 16.55 | | Add: Other un-allcoable | | -4.22 | -3.57 | -18.21 | | -22.35 | -10.61 | -110.65 | | -30.70 | -25.66 | -19.64 | | PBIT Margin(%) | | Manufactuirng of Machinery & Equipment | | 8.69 | 6.48 | 221.40 | | 6.47 | 8.86 | -239.43 | | 10.52 | 5.23 | 528.93 | | Engineering, Procurement and Construction | | 4.15 | 5.21 | -105.80 | | 2.43 | 5.11 | -267.95 | | 4.99 | 3.86 | 112.61 | | Sugar | | 13.88 | 24.27 | -1,039.44 | | 11.72 | 16.02 | -429.75 | | 13.06 | 8.26 | 479.41 | | Ethanol (Plant Under Construction) | | -784.52 | -154.95 | -62,956.89 | | 210.61 | -0.07 | 21,067.60 | | -80.48 | -161.44 | 8,095.86 | | PBT | 100.00 | 77.72 | 96.51 | -19.47 | 100.00 | 109.70 | 260.20 | -57.84 | 100.00 | 355.81 | 214.45 | 65.92 |
|
|
|
|
|
Previous News |
ISGEC Heavy Engineering
(
Results
-
Analysis
30-May-23
10:38
)
|
|
|
ISGEC Heavy Engineering consolidated net profit rises 181.08% in the September 2022 quarter
(
Results
-
Announcements
11-Nov-22
17:54
)
|
|
|
ISGEC Heavy Engineering
(
Results
-
Analysis
14-Nov-23
23:41
)
|
|
|
ISGEC Heavy Engineering schedules board meeting
(
Corporate News
-
31-Jan-24
14:41
)
|
|
|
ISGEC Heavy Engineering to hold board meeting
(
Corporate News
-
17-May-24
14:08
)
|
|
|
ISGEC Heavy Engineering to pay dividend
(
Market Beat
-
Reports
29-May-23
15:40
)
|
|
|
ISGEC Heavy Engineering consolidated net profit declines 1.65% in the December 2023 quarter
(
Results
-
Announcements
13-Feb-24
16:29
)
|
|
|
ISGEC Heavy Engineering to discuss results
(
Corporate News
-
03-Feb-22
11:20
)
|
|
|
ISGEC Heavy Engineering director resigns
(
Corporate News
-
16-Mar-22
10:11
)
|
|
|
ISGEC Heavy Engineering fixes record date for interim dividend
(
Market Beat
-
Reports
12-Feb-19
16:01
)
|
|
|
ISGEC secures order from Russian soda ash manufacturer
(
Corporate News
-
20-Jul-21
14:16
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|