For
the quarter ending June 2023, consolidated Net sales (including other operating income) of Sandhar Technologies Limited has increased 22.78% to Rs 828.91 crore compared to quarter ended June 2022. Sales of India segment has gone up 20.37% to Rs 694.28 crore (accounting for 83.76% of total sales). Sales of Europe segment has gone up 36.97% to Rs 134.62 crore (accounting for 16.24% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 58.58% to Rs 41.04 crore. PBIT of India segment rose 62.28% to Rs 34.49 crore (accounting for 84.04% of total PBIT). PBIT of Europe segment rose 41.56% to Rs 6.55 crore (accounting for 15.96% of total PBIT).
PBIT margin of India segment rose from 3.68% to 4.97%. PBIT margin of Europe segment rose from 4.71% to 4.87%. Overall PBIT margin rose from 3.83% to 4.95%.
Operating profit margin has jumped from 8.08% to 8.79%, leading to 33.49% rise in operating profit to Rs 72.83 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 63.87% to 61.36%. Employee cost increased from 13.12% to 13.85%. Other expenses rose from 15.11% to 16.00%. Other income fell 3.01% to Rs 2.9 crore. PBIDT rose 31.59% to Rs 75.73 crore. Provision for interest rose 59.69% to Rs 11.37 crore.
PBDT rose 27.62% to Rs 64.36 crore. Provision for depreciation rose 21.16% to Rs 34.93 crore.
Profit before tax grew 36.25% to Rs 29.43 crore. Provision for tax was expense of Rs 8.17 crore, compared to Rs 6.05 crore. Effective tax rate was 27.53% compared to 32.25%.
Minority interest increased 500% to Rs 0.12 crore. Net profit attributable to owners of the company increased 68.56% to Rs 21.39 crore. Promoters’ stake was 70.38% as of 30 June 2023 ,compared to 70.38% as of 30 June 2022 .
Full year results analysis.
Net sales (including other operating income) of Sandhar Technologies Limited has increased 25.18% to Rs 2908.91 crore. Sales of India segment has gone up 26.74% to Rs 2,476.02 crore (accounting for 85.12% of total sales). Sales of Europe segment has gone up 16.99% to Rs 432.89 crore (accounting for 14.88% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 36.89% to Rs 137.25 crore. PBIT of India segment rose 43.34% to Rs 121.54 crore (accounting for 88.55% of total PBIT). PBIT of Europe segment rose 1.55% to Rs 15.71 crore (accounting for 11.45% of total PBIT).
PBIT margin of India segment rose from 4.34% to 4.91%. PBIT margin of Europe segment fell from 4.18% to 3.63%. Overall PBIT margin rose from 4.31% to 4.72%.
Operating profit margin has declined from 8.87% to 8.56%, leading to 20.90% rise in operating profit to Rs 249.09 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 61.31% to 62.89%. Employee cost decreased from 13.57% to 13.19%. Other expenses fell from 16.34% to 15.38%. Other income rose 78.94% to Rs 12.49 crore. PBIDT rose 22.80% to Rs 261.58 crore. Provision for interest rose 102.03% to Rs 35.78 crore. Loan funds rose to Rs 666.34 crore as of 31 March 2023 from Rs 619.79 crore as of 31 March 2022. Inventories rose to Rs 300.45 crore as of 31 March 2023 from Rs 259.70 crore as of 31 March 2022. Sundry debtors were lower at Rs 355.36 crore as of 31 March 2023 compared to Rs 445.37 crore as of 31 March 2022. Cash and bank balance rose to Rs 7.08 crore as of 31 March 2023 from Rs 6.62 crore as of 31 March 2022. Investments declined from Rs 53.26 crore as of 31 March 2022 to Rs 49.04 crore as of 31 March 2023.
PBDT rose 15.62% to Rs 225.8 crore. Provision for depreciation rose 21.48% to Rs 121.52 crore. Fixed assets increased to Rs 1,220.41 crore as of 31 March 2023 from Rs 1,064.58 crore as of 31 March 2022. Intangible assets increased from Rs 5.53 crore to Rs 66.32 crore.
Profit before tax grew 9.46% to Rs 104.28 crore. Share of profit/loss was 77.91% higher at Rs -2.81 crore. Extraordinary items were increased to Rs -1.10 crore. Provision for tax was expense of Rs 26.81 crore, compared to Rs 25.51 crore. Effective tax rate was 26.71% compared to 31.32%.
Minority interest increased 195% to Rs 0.59 crore. Net profit attributable to owners of the company increased 30.93% to Rs 72.97 crore.
Equity capital stood at Rs 60.19 crore as of 31 March 2023 to Rs 60.19 crore as of 31 March 2022. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 70.38% as of 31 March 2023 ,compared to 70.38% as of 31 March 2022 .
Cash flow from operating activities increased to Rs 307.90 crore for year ended March 2023 from Rs 48.62 crore for year ended March 2022. Cash flow used in acquiring fixed assets during the year ended March 2023 stood at Rs 256.65 crore, compared to Rs 297.03 crore during the year ended March 2022.
| Sandhar Technologies Limited: Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202306 | 202206 | Var.(%) | 202303 | 202203 | Var.(%) |
|---|
| Net Sales (including other operating income) | 828.91 | 675.10 | 22.78 | 2,908.91 | 2,323.70 | 25.18 | | OPM (%) | 8.79 | 8.08 | 70 bps | 8.56 | 8.87 | -30 bps | | OP | 72.83 | 54.56 | 33.49 | 249.09 | 206.03 | 20.90 | | Other Inc. | 2.90 | 2.99 | -3.01 | 12.49 | 6.98 | 78.94 | | PBIDT | 75.73 | 57.55 | 31.59 | 261.58 | 213.01 | 22.80 | | Interest | 11.37 | 7.12 | 59.69 | 35.78 | 17.71 | 102.03 | | PBDT | 64.36 | 50.43 | 27.62 | 225.80 | 195.30 | 15.62 | | Depreciation | 34.93 | 28.83 | 21.16 | 121.52 | 100.03 | 21.48 | | PBT | 29.43 | 21.60 | 36.25 | 104.28 | 95.27 | 9.46 | | Share of Profit/(Loss) from Associates | 0.25 | -2.84 | LP | -2.81 | -12.72 | 77.91 | | PBT before EO | 29.68 | 18.76 | 58.21 | 101.47 | 82.55 | 22.92 | | EO Income | 0 | 0 | - | -1.1 | -1.11 | 0.90 | | PBT after EO | 29.68 | 18.76 | 58.21 | 100.37 | 81.44 | 23.24 | | Taxation | 8.17 | 6.05 | 35.04 | 26.81 | 25.51 | 5.10 | | PAT | 21.51 | 12.71 | 69.24 | 73.56 | 55.93 | 31.52 | | Minority Interest (MI) | 0.12 | 0.02 | 500.00 | 0.59 | 0.2 | 195.00 | | Net profit | 21.39 | 12.69 | 68.56 | 72.97 | 55.73 | 30.93 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 21.39 | 12.69 | 68.56 | 72.97 | 55.73 | 30.93 | | EPS (Rs)* | 3.55 | 2.11 | 68.56 | 12.26 | 9.39 | 30.51 | | | * EPS is on current equity of Rs 60.19 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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| Sandhar Technologies Limited : Consolidated Segment Results |
| | Quarter ended | Year ended |
|---|
| % of (Total) | 202306 | 202206 | Var.(%) | % of (Total) | 202303 | 202203 | Var.(%) |
|---|
| Sales | | India | 83.76 | 694.28 | 576.81 | 20.37 | 85.12 | 2,476.02 | 1,953.68 | 26.74 | | Europe | 16.24 | 134.62 | 98.29 | 36.97 | 14.88 | 432.89 | 370.02 | 16.99 | | Total Reported Sales | 100.00 | 828.91 | 675.10 | 22.78 | 100.00 | 2,908.91 | 2,323.70 | 25.18 | | Less: Inter segment revenues | | 0.00 | 0.00 | - | | 0.00 | 0.00 | - | | Net Sales | 100.00 | 828.91 | 675.10 | 22.78 | 100.00 | 2,908.91 | 2,323.70 | 25.18 | | PBIT | | India | 84.04 | 34.49 | 21.25 | 62.28 | 88.55 | 121.54 | 84.79 | 43.34 | | Europe | 15.96 | 6.55 | 4.63 | 41.56 | 11.45 | 15.71 | 15.47 | 1.55 | | Total PBIT | 100.00 | 41.04 | 25.88 | 58.58 | 100.00 | 137.25 | 100.26 | 36.89 | | Less : Interest | | 11.37 | 7.12 | 59.63 | | 35.78 | 17.71 | 102.02 | | Add: Other un-allcoable | | 0.00 | 0.00 | - | | -1.10 | -1.11 | 0.35 | | PBIT Margin(%) | | India | | 4.97 | 3.68 | 128.32 | | 4.91 | 4.34 | 56.85 | | Europe | | 4.87 | 4.71 | 15.79 | | 3.63 | 4.18 | -55.18 | | PBT | 100.00 | 29.67 | 18.76 | 58.18 | 100.00 | 100.36 | 81.44 | 23.23 |
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