Capitaline

Results 11-Aug-23

Analysis

Precision Wires India

Sales down 3%, net down 2%

Standalone net sales (including other operating income) of Precision Wires India for the quarter ended Jun 2023 has declined 2.84% to Rs 802.74 crore. Operating profit margin has jumped from 4.09% to 4.52%, leading to 7.47% rise in operating profit to Rs 36.27 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 91.74% to 91.32%. Employee cost increased from 1.04% to 1.19%. Other expenses fell from 3.11% to 3.08%. Power and Oil fuel cost rose from 0.92% to 1.05%.

PBIDT rose 7.47% to Rs 36.27 crore. Provision for interest up 33.20% to Rs 10.03 crore.

PBDT rose 0.08% to Rs 26.24 crore. Provision for depreciation rose 11.60% to Rs 4.04 crore.

Profit before tax down 1.77% to Rs 22.20 crore. Provision for tax was expense of Rs 5.65 crore, compared to Rs 5.77 crore. Effective tax rate was 25.45% compared to 25.53%.

Profit after tax fell 1.66% to Rs 16.55 crore.

Promoters’ stake was 57.93% as of 30 June 2023 ,compared to 59.67% as of 30 June 2022 .

Precision Wires India : Standalone Results

	Quarter ended			Year ended
Particulars	202306	202206	Var.(%)	202303	202203	Var.(%)
Net Sales (including other operating income)	802.74	826.18	-2.84	3,055.47	2,690.04	13.58
OPM (%)	4.52	4.09	43 bps	4.20	4.62	-42 bps
OP	36.27	33.75	7.47	128.36	124.31	3.26
Other Inc.	0.00	0.00	-	0.00	0.00	-
PBIDT	36.27	33.75	7.47	128.36	124.31	3.26
Interest	10.03	7.53	33.20	32.91	24.9	32.17
PBDT	26.24	26.22	0.08	95.45	99.41	-3.98
Depreciation	4.04	3.62	11.60	14.17	15.17	-6.59
PBT	22.20	22.60	-1.77	81.28	84.24	-3.51
PBT before EO	22.2	22.6	-1.77	81.28	84.24	-3.51
EO Income	0	0	-	0	0	-
PBT after EO	22.2	22.6	-1.77	81.28	84.24	-3.51
Taxation	5.65	5.77	-2.08	21.79	21.23	2.64
PAT	16.55	16.83	-1.66	59.49	63.01	-5.59
P/(L) from discontinued operations net of tax	0	0	-	0	0	-
Net profit after discontinued operations	16.55	16.83	-1.66	59.49	63.01	-5.59
EPS (Rs)*	0.93	0.94	-1.66	3.33	3.53	-5.59

* EPS is on current equity of Rs 17.87 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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