Full year results analysis.

Net sales (including other operating income) of Macrotech Developers has increased 69.46% to Rs 9233.2 crore.  Operating profit margin has declined from 25.18% to 23.01%, leading to 54.87% rise in operating profit to Rs 2,124.70 crore.  Employee cost decreased from 5.26% to 3.84%.   Other expenses rose from 69.56% to 73.15%.   Selling and administration expenses fell from 66.14% to 65.66%.   Construction development cost fell from 66.14% to 65.66%.   Other income rose 7.08% to Rs 345.97 crore.  PBIDT rose 45.76% to Rs 2470.67 crore.  Provision for interest fell 39.56% to Rs 680.34 crore.  PBDT rose 214.45% to Rs 1790.33 crore.  Provision for depreciation rose 1.84% to Rs 74.77 crore.  Profit before tax grew 245.93% to Rs 1,715.56 crore.  Provision for tax was debit of Rs 508.03 crore, compared to credit of Rs 14.73 crore.  Effective tax rate was 29.60% compared to negative 44.42%. Minority interest decreased 20.57% to Rs 6.14 crore.  Net profit attributable to owners of the company increased 2,893.95% to Rs 1,202.37 crore.  

Other developments

Equity capital increased from Rs 395.88 crore as of 31 March 2021 to Rs 481.51 crore as of 31 March 2022.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 82.22% as of 31 March 2022Promoters pledged stake was 32.99% as of 31 March 2022

Loan funds declined from Rs 18,288.85 crore as of 31 March 2021 to Rs 11,594.01 crore as of 31 March 2022.  Inventories declined from Rs 28,300.70 crore as of 31 March 2021 to Rs 27,358.31 crore as of 31 March 2022.  Sundry debtors were lower at Rs 645.09 crore as of 31 March 2022 compared to Rs 654.53 crore as of 31 March 2021.  Cash and bank balance rose to Rs 1,245.74 crore as of 31 March 2022 from Rs 366.80 crore as of 31 March 2021.  Investments declined from Rs 1,579.38 crore as of 31 March 2021 to Rs 573.96 crore as of 31 March 2022.  

Fixed assets declined from Rs 1,405.90 crore as of 31 March 2021 to Rs 1,383.77 crore as of 31 March 2022.  Intangible assets declined from Rs 546.68 crore to Rs 539.04 crore.  

Cash flow from operating activities decreased to Rs 1,998.34 crore for year ended March 2022 from Rs 2,523.95 crore for year ended March 2021.  Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 40.81 crore, compared to Rs 2.04 crore during the year ended March 2021.  

Macrotech Developers : Consolidated Results

Quarter ended Year ended Particulars 202203 202103 Var.(%) 202203 202103 Var.(%) Net Sales (including other operating income) 3,444.56 2,533.56 35.96 9,233.20 5,448.57 69.46 OPM (%) 25.29 31.91 -661 bps 23.01 25.18 -217 bps OP 871.25 808.39 7.78 2,124.70 1,371.96 54.87 Other Inc. 71.85 77.61 -7.42 345.97 323.08 7.08 PBIDT 943.10 886.00 6.44 2,470.67 1,695.04 45.76 Interest 121.79 314.73 -61.30 680.34 1,125.69 -39.56 PBDT 821.31 571.27 43.77 1,790.33 569.35 214.45 Depreciation 19 17 11.76 74.77 73.42 1.84 PBT 802.31 554.27 44.75 1715.56 495.93 245.93 Share of Profit/(Loss) from Associates -0.01 0.23 PL 0.98 -0.02 LP PBT before EO 802.3 554.5 44.69 1716.54 495.91 246.14 EO Income 0 0 - 0 -462.75 - PBT after EO 802.3 554.5 44.69 1716.54 33.16 5,076.54 Taxation 264.28 242.31 9.07 508.03 -14.73 PL PAT 538.02 312.19 72.34 1208.51 47.89 2,423.51 Minority Interest (MI) 2.56 1.63 57.06 6.14 7.73 -20.57 Net profit 535.46 310.56 72.42 1202.37 40.16 2,893.95 P/(L) from discontinued operations net of tax 0 0 - 0 0 - Net profit after discontinued operations 535.46 310.56 72.42 1202.37 40.16 2,893.95 EPS (Rs)* 11.12 6.45 72.42 24.97 8.64 189.11 * EPS is on current equity of Rs 481.60 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