On consolidated basis
Quarter ended March 2024 compared
with Quarter ended March 2023.
Net sales (including other operating income) of Birla Corporation has increased
7.87% to Rs 2656.43 crore. Sales of Cement segment has gone up 7.97%
to Rs 2,530.52 crore (accounting for 95.21% of total sales). Sales
of Jute segment has gone up 5.69% to Rs 125.81 crore (accounting for 4.73% of
total sales). Sales of Others segment fell 45.65% to Rs 1.50 crore
(accounting for 0.06% of total sales). Inter-segment sales came down
from Rs 2.96 crore to Rs 1.40 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 86.91% to Rs 359.90
crore. PBIT of Cement segment rose 88.61% to Rs 353.31 crore
(accounting for 98.17% of total PBIT). PBIT of Jute segment rose
23.88% to Rs 7.21 crore (accounting for 2.00% of total PBIT). PBIT
of Others segment fell 5.08% to Rs -0.62 crore (accounting for -0.17% of total
PBIT).
PBIT margin of Cement segment rose
from 7.99% to 13.96%. PBIT margin of Jute segment rose from 4.89% to
5.73%. PBIT margin of Others segment fell from negative 21.38% to
negative 41.33%. Overall PBIT margin rose from 7.81% to
13.54%.
Operating profit margin has jumped
from 11.14% to 17.78%, leading to 72.21% rise in operating profit to Rs 472.41
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 12.20% to 15.24%. Purchase of finished
goods cost rose from 0.13% to 0.34%. Employee cost decreased from
5.62% to 5.08%. Other expenses fell from 70.19% to 61.29%.
Power and Oil fuel cost fell from 24.80% to 18.52%.
Freight charges fell from 25.74% to 23.80%.
Other income fell 47.69% to Rs 25.69
crore. PBIDT rose 54% to Rs 498.1 crore. Provision for
interest fell 7.16% to Rs 82.37 crore. Loan funds declined from Rs
4,462.27 crore as of 31 March 2023 to Rs 3,903.47 crore as of 31 March
2024. Inventories declined from Rs 1,061.60 crore as of 31 March
2023 to Rs 964.55 crore as of 31 March 2024. Sundry debtors were
higher at Rs 414.94 crore as of 31 March 2024 compared to Rs 323.34 crore as of
31 March 2023. Cash and bank balance declined from Rs 218.29 crore
as of 31 March 2023 to Rs 159.21 crore as of 31 March
2024. Investments rose to Rs 1,287.03 crore as of 31 March 2024 from
Rs 867.23 crore as of 31 March 2023 .
PBDT rose 77.12% to Rs 415.73
crore. Provision for depreciation rose 6.86% to Rs 149.7
crore. Fixed assets increased to Rs 10,270.86 crore as of 31 March
2024 from Rs 10,200.49 crore as of 31 March 2023. Intangible assets
stood at Rs 0.03 crore.
Profit before tax grew 181.13% to Rs
266.03 crore. Share of profit/loss were nil in both the
periods. Extraordinary items were decreased to Rs 7.03
crore. Provision for tax was expense of Rs 79.72 crore, compared to
Rs 27.98 crore. Effective tax rate was 29.20% compared to 24.78%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 127.59% to Rs 193.34 crore.
Equity capital stood at Rs 77.01
crore as of 31 March 2024 to Rs 77.01 crore as of 31 March 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 62.90% as of 31
March 2024 ,compared to 62.90% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Birla Corporation has increased
11.29% to Rs 9662.72 crore. Sales of Cement segment has gone up
12.16% to Rs 9,247.51 crore (accounting for 95.64% of total
sales). Sales of Jute segment has gone down 4.92% to Rs 415.11 crore
(accounting for 4.29% of total sales). Sales of Others segment fell
15.90% to Rs 6.61 crore (accounting for 0.07% of total sales). Inter-segment
sales came down from Rs 7.09 crore to Rs 6.51 crore.
Profit before interest, tax and
other unallocable items (PBIT) has jumped 158.95% to Rs 964.58
crore. PBIT of Cement segment rose 172.48% to Rs 951.28 crore
(accounting for 98.62% of total PBIT). PBIT of Jute segment fell
39.51% to Rs 15.60 crore (accounting for 1.62% of total PBIT). PBIT
of Others segment rose 4.56% to Rs -2.30 crore (accounting for -0.24% of total
PBIT).
PBIT margin of Cement segment rose
from 4.23% to 10.29%. PBIT margin of Jute segment fell from 5.91% to
3.76%. PBIT margin of Others segment fell from negative 30.66% to
negative 34.80%. Overall PBIT margin rose from 4.29% to
9.98%.
Operating profit margin has jumped
from 8.89% to 14.88%, leading to 86.22% rise in operating profit to Rs 1,437.60
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 13.60% to 15.46%. Purchase of finished
goods cost rose from 0.22% to 0.25%. Employee cost decreased from
5.92% to 5.80%. Other expenses fell from 71.50% to 63.50%.
Power and Oil fuel cost fell from 26.95% to 20.31%.
Freight charges fell from 23.93% to 23.78%.
Other income fell 24.31% to Rs 85.57
crore. PBIDT rose 72.10% to Rs 1523.17 crore. Provision
for interest rose 9.74% to Rs 371.71 crore. Loan funds declined from
Rs 4,462.27 crore as of 31 March 2023 to Rs 3,903.47 crore as of 31 March
2024. Inventories declined from Rs 1,061.60 crore as of 31 March
2023 to Rs 964.55 crore as of 31 March 2024. Sundry debtors were higher
at Rs 414.94 crore as of 31 March 2024 compared to Rs 323.34 crore as of 31
March 2023. Cash and bank balance declined from Rs 218.29 crore as
of 31 March 2023 to Rs 159.21 crore as of 31 March 2024. Investments
rose to Rs 1,287.03 crore as of 31 March 2024 from Rs 867.23 crore as of 31
March 2023 .
PBDT rose 110.76% to Rs 1151.46
crore. Provision for depreciation rose 13.42% to Rs 578.31
crore. Fixed assets increased to Rs 10,270.86 crore as of 31 March
2024 from Rs 10,200.49 crore as of 31 March 2023. Intangible assets
stood at Rs 0.03 crore.
Profit before tax grew 1,472% to Rs
573.15 crore. Share of profit/loss were nil in both the
periods. Extraordinary items were increased to Rs 6.78
crore. Provision for tax was expense of Rs 159.37 crore, compared to
Rs 2.61 crore. Effective tax rate was 27.48% compared to 6.05%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 938.42% to Rs 420.56 crore.
Equity capital stood at Rs 77.01
crore as of 31 March 2024 to Rs 77.01 crore as of 31 March 2023. Per
share face Value remained same at Rs 10.00.
Promoters’ stake was 62.90% as of 31
March 2024 ,compared to 62.90% as of 31 March 2023 .
Cash flow from operating activities
increased to Rs 1,619.45 crore for year ended March 2024 from Rs 805.46 crore
for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 529.40 crore, compared to Rs
631.01 crore during the year ended March 2023.
Others:
Operational highlights
Cement segment
Volumes
in Q4FY2024 stood at 4.85 million tonnes up 9.4% YoY and for FY2024 stood at 15.73
million tonnes up 12.2% YoY.
Blended
cement contribution stood at 84% for Q4FY2024 and 89.8% for FY2024.
Trade
sales stood at 71.5% of the total sales in Q4FY2024 and 77.2% in FY2024.
Premium
cement contribution stood at 54.8% of the trade sales in Q4FY2024 and 53.7% in
FY2024.
Realization
per ton stood at Rs 5178/ton in Q4FY2024 and Rs 5204/ton in FY2024.
EBITDA
per ton stood at 964/ton in Q4FY2024 and Rs 808/ton in FY2024.
Dividend: The
Board of Directors have recommended a dividend of Rs 10.00 per share of face value of Rs 10 each.
| Birla Corporation : Consolidated Results | | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 2,656.43 | 2,462.57 | 7.87 | 9,662.72 | 8,682.27 | 11.29 | | OPM (%) | 17.78 | 11.14 | 664 bps | 14.88 | 8.89 | 599 bps | | OP | 472.41 | 274.33 | 72.21 | 1,437.60 | 772.01 | 86.22 | | Other Inc. | 25.69 | 49.11 | -47.69 | 85.57 | 113.05 | -24.31 | | PBIDT | 498.10 | 323.44 | 54.00 | 1,523.17 | 885.06 | 72.10 | | Interest | 82.37 | 88.72 | -7.16 | 371.71 | 338.72 | 9.74 | | PBDT | 415.73 | 234.72 | 77.12 | 1,151.46 | 546.34 | 110.76 | | Depreciation | 149.7 | 140.09 | 6.86 | 578.31 | 509.88 | 13.42 | | PBT | 266.03 | 94.63 | 181.13 | 573.15 | 36.46 | 1,472.00 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 266.03 | 94.63 | 181.13 | 573.15 | 36.46 | 1,472.00 | | EO Income | 7.03 | 18.3 | -61.58 | 6.78 | 6.65 | 1.95 | | PBT after EO | 273.06 | 112.93 | 141.80 | 579.93 | 43.11 | 1,245.23 | | Taxation | 79.72 | 27.98 | 184.92 | 159.37 | 2.61 | 6,006.13 | | PAT | 193.34 | 84.95 | 127.59 | 420.56 | 40.5 | 938.42 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | | Net profit | 193.34 | 84.95 | 127.59 | 420.56 | 40.5 | 938.42 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 193.34 | 84.95 | 127.59 | 420.56 | 40.5 | 938.42 | | EPS (Rs)* | 24.46 | 9.24 | 164.62 | 53.97 | 4.45 | 1,113.55 | | | * EPS is on current equity of Rs 77.01 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 |
|
| Birla Corporation : Consolidated Segment Results | | | Quarter ended | Year ended |
|---|
| % of (Total) | 202403 | 202303 | Var.(%) | % of (Total) | 202403 | 202303 | Var.(%) |
|---|
| Sales | | Cement | 95.21 | 2,530.52 | 2,343.73 | 7.97 | 95.64 | 9,247.51 | 8,244.89 | 12.16 | | Jute | 4.73 | 125.81 | 119.04 | 5.69 | 4.29 | 415.11 | 436.61 | -4.92 | | Others | 0.06 | 1.50 | 2.76 | -45.65 | 0.07 | 6.61 | 7.86 | -15.90 | | Total Reported Sales | 100.00 | 2,657.83 | 2,465.53 | 7.80 | 100.00 | 9,669.23 | 8,689.36 | 11.28 | | Less: Inter segment revenues | | 1.40 | 2.96 | -52.70 | | 6.51 | 7.09 | -8.18 | | Net Sales | 100.00 | 2,656.43 | 2,462.57 | 7.87 | 100.00 | 9,662.72 | 8,682.27 | 11.29 | | PBIT | | Cement | 98.17 | 353.31 | 187.32 | 88.61 | 98.62 | 951.28 | 349.12 | 172.48 | | Jute | 2.00 | 7.21 | 5.82 | 23.88 | 1.62 | 15.60 | 25.79 | -39.51 | | Others | -0.17 | -0.62 | -0.59 | -5.08 | -0.24 | -2.30 | -2.41 | 4.56 | | Total PBIT | 100.00 | 359.90 | 192.55 | 86.91 | 100.00 | 964.58 | 372.50 | 158.95 | | Less : Interest | | 82.37 | 88.72 | -7.16 | | 371.71 | 338.72 | 9.74 | | Add: Other un-allcoable | | -4.47 | 9.10 | PL | | -12.94 | 9.33 | PL | | PBIT Margin(%) | | Cement | | 13.96 | 7.99 | 596.96 | | 10.29 | 4.23 | 605.25 | | Jute | | 5.73 | 4.89 | 84.18 | | 3.76 | 5.91 | -214.88 | | Others | | -41.33 | -21.38 | -1,995.65 | | -34.80 | -30.66 | -413.42 | | PBT | 100.00 | 273.06 | 112.93 | 141.80 | 100.00 | 579.93 | 43.11 | 1,245.23 |
|
|