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Results
24-May-22
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Analysis
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Rupa & Company
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Net sales up 0.3% YoY, PAT down 25.2% YoY in Q4FY2022
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On consolidated basis
Quarter ended March 2022 compared
with Quarter ended March 2021.
Net sales (including other operating income) of Rupa & Company has
increased 0.33% to Rs 455.47 crore.
Operating profit margin has declined
from 19.96% to 16.29%, leading to 18.10% decline in operating profit to Rs
74.21 crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 41.04% to 46.44%. Purchase of finished
goods cost rose from 3.39% to 3.51%. Employee cost increased from
4.12% to 4.37%. Other expenses rose from 30.47% to 30.67%.
Contract job process charges rose from 17.99% to 18.37%.
Other income rose 10.19% to Rs 3.57
crore. PBIDT fell 17.12% to Rs 77.78 crore. Provision for
interest rose 121.86% to Rs 6.19 crore. Loan funds rose to Rs 369.87
crore as of 31 March 2022 from Rs 161.45 crore as of 31 March
2021. Inventories rose to Rs 583.03 crore as of 31 March 2022 from
Rs 390.58 crore as of 31 March 2021. Sundry debtors were higher at
Rs 547.33 crore as of 31 March 2022 compared to Rs 364.41 crore as of 31 March
2021. Cash and bank balance rose to Rs 123.74 crore as of 31 March
2022 from Rs 118.40 crore as of 31 March 2021.
PBDT fell 21.38% to Rs 71.59
crore. Provision for depreciation rose 23.08% to Rs 3.36
crore. Fixed assets increased to Rs 231.12 crore as of 31 March 2022
from Rs 206.42 crore as of 31 March 2021. Intangible assets declined
from Rs 6.03 crore to Rs 5.57 crore.
Profit before tax down 22.76% to Rs
68.23 crore. Share of profit/loss were nil in both the periods. Provision
for tax was expense of Rs 18.92 crore, compared to Rs 22.43
crore. Effective tax rate was 27.73% compared to 25.39%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 25.17% to Rs 49.31 crore.
Equity capital stood at Rs 7.96
crore as of 31 March 2022 to Rs 7.96 crore as of 31 March 2021. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 73.28% as of 31
March 2022 ,compared to 73.28% as of 31 March 2021 .
Full year results analysis.
Net sales (including other operating income) of Rupa & Company has
increased 12.30% to Rs 1474.14 crore.
Operating profit margin has declined
from 19.60% to 18.22%, leading to 4.35% rise in operating profit to Rs 268.54
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 39.77% to 46.42%. Purchase of finished
goods cost rose from 2.38% to 2.79%. Employee cost decreased from
4.35% to 4.11%. Other expenses fell from 32.28% to 30.47%. Contract
job process charges fell from 19.96% to 19.76%.
Other income rose 47.87% to Rs 10.78
crore. PBIDT rose 5.55% to Rs 279.32 crore. Provision for
interest rose 39.39% to Rs 18.72 crore. Loan funds rose to Rs 369.87
crore as of 31 March 2022 from Rs 161.45 crore as of 31 March
2021. Inventories rose to Rs 583.03 crore as of 31 March 2022 from
Rs 390.58 crore as of 31 March 2021. Sundry debtors were higher at
Rs 547.33 crore as of 31 March 2022 compared to Rs 364.41 crore as of 31 March
2021. Cash and bank balance rose to Rs 123.74 crore as of 31 March
2022 from Rs 118.40 crore as of 31 March 2021.
PBDT rose 3.74% to Rs 260.6
crore. Provision for depreciation rose 0.73% to Rs 13.89
crore. Fixed assets increased to Rs 231.12 crore as of 31 March 2022
from Rs 206.42 crore as of 31 March 2021. Intangible assets declined
from Rs 6.03 crore to Rs 5.57 crore.
Profit before tax grew 3.92% to Rs
246.71 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 54.87 crore, compared
to Rs 62.15 crore. Effective tax rate was 22.24% compared to 26.18%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 9.46% to Rs 191.84 crore.
Equity capital stood at Rs 7.96
crore as of 31 March 2022 to Rs 7.96 crore as of 31 March 2021. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 73.28% as of 31
March 2022 ,compared to 73.28% as of 31 March 2021 .
Cash flow from operating activities
has turned negative Rs 116.06 crore for year ended March 2022 from positive Rs
210.59 crore for year ended March 2021. Cash flow used in acquiring
fixed assets during the year ended March 2022 stood at Rs 37.29 crore, compared
to Rs 22.69 crore during the year ended March 2021.
Dividend:
The Board of directors have recommended a dividend of Rs 3 per equity share of Rs
1 each.
Others:
Mr.
Dinesh Kumar Lodha -has resigned from the pot of CEO. Mr. Sumit Khowala has
been promoted to be the new designated CFO. Mr. Ramesh Agarwal continues to
hold the position of Whole Time Director of Rupa & Company
Rupa & Company : Consolidated Results | | Quarter ended | Year ended |
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Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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Net Sales (including other operating income) | 455.47 | 453.99 | 0.33 | 1,474.14 | 1,312.67 | 12.30 | OPM (%) | 16.29 | 19.96 | -367 bps | 18.22 | 19.60 | -139 bps | OP | 74.21 | 90.61 | -18.10 | 268.54 | 257.34 | 4.35 | Other Inc. | 3.57 | 3.24 | 10.19 | 10.78 | 7.29 | 47.87 | PBIDT | 77.78 | 93.85 | -17.12 | 279.32 | 264.63 | 5.55 | Interest | 6.19 | 2.79 | 121.86 | 18.72 | 13.43 | 39.39 | PBDT | 71.59 | 91.06 | -21.38 | 260.60 | 251.20 | 3.74 | Depreciation | 3.36 | 2.73 | 23.08 | 13.89 | 13.79 | 0.73 | PBT | 68.23 | 88.33 | -22.76 | 246.71 | 237.41 | 3.92 | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | PBT before EO | 68.23 | 88.33 | -22.76 | 246.71 | 237.41 | 3.92 | EO Income | 0 | 0 | - | 0 | 0 | - | PBT after EO | 68.23 | 88.33 | -22.76 | 246.71 | 237.41 | 3.92 | Taxation | 18.92 | 22.43 | -15.65 | 54.87 | 62.15 | -11.71 | PAT | 49.31 | 65.9 | -25.17 | 191.84 | 175.26 | 9.46 | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | Net profit | 49.31 | 65.9 | -25.17 | 191.84 | 175.26 | 9.46 | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | Net profit after discontinued operations | 49.31 | 65.9 | -25.17 | 191.84 | 175.26 | 9.46 | EPS (Rs)* | 6.20 | 8.29 | -25.17 | 24.12 | 22.04 | 9.46 | | * EPS is on current equity of Rs 7.95 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 |
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