- Sales of Communications and signal Processing products segment has gone up 154.67% to Rs 69.03 crore (accounting for 99.82% of total sales). Sales of Health care segment has gone up 60,750.00% to Rs 0.12 crore (accounting for 0.18% of total sales).
- Profit before interest, tax and other unallocable items (PBIT) has jumped 109.03% to Rs 11.40 crore. PBIT of Communications and signal Processing products segment rose 97.91% to Rs 12.07 crore (accounting for 105.94% of total PBIT). PBIT of Health care segment fell 4.44% to Rs -0.68 crore (accounting for -5.94% of total PBIT).
- PBIT margin of Communications and signal Processing products segment fell from 22.51% to 17.49%. PBIT margin of Health care segment rose from negative 3,24,300.00% to negative 556.61%. Overall PBIT margin fell from 20.11% to 16.48%.
Full year results analysis.
Net sales (including other operating income) of Avantel has increased 47.17% to Rs 154.45 crore. Sales of Communications and signal Processing products segment has gone up 45.56% to Rs 154.74 crore (accounting for 99.88% of total sales). Sales of Health care segment has gone up 1,336.64% to Rs 0.19 crore (accounting for 0.12% of total sales).
Profit before interest, tax and other unallocable items (PBIT) has jumped 63.20% to Rs 36.67 crore. PBIT of Communications and signal Processing products segment rose 68.89% to Rs 39.93 crore (accounting for 108.89% of total PBIT). PBIT of Health care segment fell 177.94% to Rs -3.26 crore (accounting for -8.89% of total PBIT).
PBIT margin of Communications and signal Processing products segment rose from 22.24% to 25.80%. PBIT margin of Health care segment rose from negative 8,957.25% to negative 1,732.89%. Overall PBIT margin rose from 21.13% to 23.67%.
Operating profit margin has jumped from 25.38% to 30.31%, leading to 75.75% rise in operating profit to Rs 46.82 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 46.71% to 45.76%. Employee cost decreased from 12.18% to 10.56%. Other expenses fell from 16.66% to 15.86%.
Other income fell 64.96% to Rs 0.48 crore. PBIDT rose 68.87% to Rs 47.3 crore. Provision for interest rose 221.85% to Rs 4.86 crore. Loan funds rose to Rs 30.34 crore as of 31 March 2023 from Rs 15.65 crore as of 31 March 2022. Inventories rose to Rs 44.60 crore as of 31 March 2023 from Rs 16.77 crore as of 31 March 2022. Sundry debtors were higher at Rs 39.84 crore as of 31 March 2023 compared to Rs 36.16 crore as of 31 March 2022. Cash and bank balance declined from Rs 1.33 crore as of 31 March 2022 to Rs 1.25 crore as of 31 March 2023.
PBDT rose 60.15% to Rs 42.44 crore. Provision for depreciation rose 43.18% to Rs 5.77 crore. Fixed assets increased to Rs 39.81 crore as of 31 March 2023 from Rs 33.68 crore as of 31 March 2022.
Profit before tax grew 63.20% to Rs 36.67 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 9.83 crore, compared to Rs 4.49 crore. Effective tax rate was 26.81% compared to 19.98%.
Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 49.28% to Rs 26.84 crore.
Other developments
The company has signed a contract worth of Rs.54.38 Crores dated June 9, 2023 with Ministry of Defence, Coast Guard Headquarters, New Delhi for supply of SATCOM Terminals and Hub Stations. The Company has received a Purchase Order worth of Rs.4.24 Crores dated July 13, 2023, from M/s. Mazagon Dock Shipbuilders Limited for Supply, Installation and Commissioning of UHF SATCOM Systems.
As per the annual report 2023, the company has successfully completed all the deliveries of the
1 KW HF project of Indian Navy and the installations of HF Radio sets are currently under progress. The RTIS project with
Indian Railways is currently under execution and shall be completed by October 2023. It have also designed, developed
and supplied 5 Kw HF Transmitter systems which will be an import substitute for Indian Navy requirements. Further the company
has successfully completed development of SATCOM System for Multi Utility Helicopters of Lockheed Martin being
supplied to Indian Navy. Keeping in mind the future business prospects, this year the Company has also embarked on
development of HF Software Defined Radios (SDRs) with 2G/3G ALE & ECCM Capability and different variants of MSS for
submarines.
In F.Y. 2023-24, the focus of the company would be around development of HF / VHF /UHF SDRs for ship borne as well as land based platforms and design & development of Air Defence Radar systems for Indian Army.
Promoters’ stake was 40.10% as of 30 June 2023 ,compared to 40.14% as of 30 June 2022 .
| Avantel : Consolidated Financial Results |
|
|
|
| |
2306 (3) |
2206 (3) |
Var.(%) |
2303 (12) |
2203 (12) |
Var (%) |
| Sales |
68.95 |
26.99 |
155 |
154.45 |
104.95 |
47 |
| OPM (%) |
20.7 |
27.3 |
|
30.3 |
25.4 |
|
| OP |
14.25 |
7.37 |
93 |
46.82 |
26.64 |
76 |
| Other income |
0.21 |
0.12 |
75 |
0.48 |
1.37 |
-65 |
| PBIDT |
14.46 |
7.49 |
93 |
47.30 |
28.01 |
69 |
| Interest |
1.49 |
0.68 |
118 |
4.86 |
1.51 |
221 |
| PBDT |
12.97 |
6.81 |
91 |
42.44 |
26.50 |
60 |
| Depreciation |
1.57 |
1.35 |
16 |
5.77 |
4.03 |
43 |
| PBT |
11.40 |
5.45 |
109 |
36.67 |
22.47 |
63 |
| EO Exp |
0.00 |
0.00 |
|
0.00 |
0.00 |
|
| PBT after EO |
11.40 |
5.45 |
109 |
36.67 |
22.47 |
63 |
| Tax |
3.39 |
1.07 |
216 |
9.83 |
4.49 |
119 |
| PAT |
8.01 |
4.38 |
83 |
26.84 |
17.98 |
49 |
| EPS (Rs)* |
# |
# |
|
16.5 |
11.1 |
|
| *
on current equity of Rs 16.22 crore. Face Value: Rs 10 |
|
|
| EPS is
calculated after excluding EO and relevant tax |
|
|
| # EPS can
not be annualised due to seasonality in operations |
|
| Figures in
Rs crore |
|
|
|
|
|
| Source:
Capitaline Corporate database |
|
|
|