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Results
05-Aug-23
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Analysis
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Macrotech Developers
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Sales down 40%, net down 34%
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Consolidated net sales (including other operating income) of Macrotech Developers for the quarter ended Jun 2023 has declined 39.55% to Rs 1617.4 crore. Operating profit margin has jumped from 17.44% to 20.40%, leading to 29.29% decline in operating profit to Rs 330.00 crore. Employee cost increased from 3.59% to 7.37%. Other expenses fell from 78.97% to 72.23%. Selling and administration expenses fell from 71.02% to 62.09%. Construction development cost fell from 71.02% to 62.09%. PBIDT fell 17.63% to Rs 384.4 crore. Provision for interest rose 4.02% to Rs 124.1 crore. PBDT fell 25.07% to Rs 260.3 crore. Provision for depreciation rose 22.45% to Rs 24 crore. Profit before tax down 27.91% to Rs 236.30 crore. Share of profit/loss was 150% lower at Rs -1.5 crore. Provision for tax was expense of Rs 55.6 crore, compared to Rs 55.9 crore. Effective tax rate was 23.68% compared to 17.08%. Minority interest increased 60% to Rs 0.80 crore. Net profit attributable to owners of the company decreased 34.12% to Rs 178.40 crore. Promoters’ stake was 74.96% as of 30 June 2023 ,compared to 82.20% as of 30 June 2022 .
| Macrotech Developers : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
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| Net Sales (including other operating income) | 1,617.40 | 2,675.80 | -39.55 | 9,470.40 | 9,233.20 | 2.57 | | OPM (%) | 20.40 | 17.44 | 296 bps | 21.82 | 23.60 | -178 bps | | OP | 330.00 | 466.70 | -29.29 | 2,066.20 | 2,178.58 | -5.16 | | Other Inc. | 54.40 | 0 | - | 140.80 | 292.09 | -51.80 | | PBIDT | 384.40 | 466.70 | -17.63 | 2,207.00 | 2,470.67 | -10.67 | | Interest | 124.10 | 119.30 | 4.02 | 479.10 | 680.34 | -29.58 | | PBDT | 260.30 | 347.40 | -25.07 | 1,727.90 | 1,790.33 | -3.49 | | Depreciation | 24 | 19.6 | 22.45 | 92.8 | 74.77 | 24.11 | | PBT | 236.30 | 327.80 | -27.91 | 1635.1 | 1715.56 | -4.69 | | Share of Profit/(Loss) from Associates | -1.5 | -0.6 | -150.00 | -5.2 | 0.98 | PL | | PBT before EO | 234.8 | 327.2 | -28.24 | 1629.9 | 1716.54 | -5.05 | | EO Income | 0 | 0 | - | -1177.4 | 0 | - | | PBT after EO | 234.8 | 327.2 | -28.24 | 452.5 | 1716.54 | -73.64 | | Taxation | 55.6 | 55.9 | -0.54 | -37 | 508.03 | LP | | PAT | 179.2 | 271.3 | -33.95 | 489.5 | 1208.51 | -59.50 | | Minority Interest (MI) | 0.8 | 0.5 | 60.00 | 2.8 | 6.14 | -54.40 | | Net profit | 178.4 | 270.8 | -34.12 | 486.7 | 1202.37 | -59.52 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 178.4 | 270.8 | -34.12 | 486.7 | 1202.37 | -59.52 | | EPS (Rs)* | 1.85 | 2.81 | -34.12 | 16.81 | 12.47 | 34.79 | | | * EPS is on current equity of Rs 963.96 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 |
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