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Consolidated net sales (including other operating income) of Shanthi Gears for the quarter ended Mar 2024 has increased 24.51% to Rs 153.64 crore. Operating profit margin has declined from 21.60% to 17.32%, leading to 0.15% decline in operating profit to Rs 26.61 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 46.98% to 48.18%. Employee cost decreased from 14.56% to 11.40%. Other expenses rose from 16.52% to 23.14%. Other income up 242.45% to Rs 9.52 crore. PBIDT rose 22.77% to Rs 36.13 crore. Provision for interest remained nil. Loan funds remained nil. PBDT rose 22.77% to Rs 36.13 crore. Provision for depreciation rose 46.53% to Rs 4.22 crore. Profit before tax grew 20.19% to Rs 31.91 crore. Provision for tax was expense of Rs 6.23 crore, compared to Rs 7.08 crore. Effective tax rate was 19.52% compared to 26.67%. Profit after tax rose 31.90% to Rs 25.68 crore. Full year results analysis
Net sales (including other operating income) of Shanthi Gears has increased 20.28% to Rs 536.05 crore. Operating profit margin has declined from 20.16% to 18.99%, leading to 13.31% rise in operating profit to Rs 101.79 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 48.07% to 48.42%. Employee cost decreased from 15.97% to 14.18%. Other expenses rose from 15.79% to 18.61%. Other income up 87.37% to Rs 21.06 crore. PBIDT rose 21.55% to Rs 122.85 crore. Provision for interest remained nil. PBDT rose 21.55% to Rs 122.85 crore. Provision for depreciation rose 21.42% to Rs 13.21 crore. Profit before tax grew 21.57% to Rs 109.64 crore. Provision for tax was expense of Rs 27.39 crore, compared to Rs 23.14 crore. Effective tax rate was 24.98% compared to 25.66%. Profit after tax rose 22.67% to Rs 82.25 crore. Order book update Order book as end of Mar 31, 2024 was Rs 328 crore. Order intake in FY24 was up 31% to Rs 579 crore. Other developments Equity capital stood at Rs 7.67 crore as of 31 March 2024 to Rs 7.67 crore as of 31 March 2023. Per share face Value remained same at Rs 1.00. Promoters’ stake was 70.47% as of 31 March 2024 ,compared to 70.47% as of 31 March 2023 . The Board of Directors has recommended a final dividend of Rs.2/- (Rupees Two only) per equity
share of Rupee 1/- each (ISIN INE631A01022) for the financial year ended 31st March, 2024
together with the interim dividend of Rs.3/- per share, paid on 23rd February, 2024, the total
dividend for the financial year 2023-24 works out to Rs.5/- (Rupees Five only) per share. The said
final dividend, if approved by the Members at the ensuing AGM, will be paid within 30 days from
the date of the AGM (i.e., on or before 26th August, 2024). Inventories rose to Rs 85.23 crore as of 31 March 2024 from Rs 66.60 crore as of 31 March 2023. Sundry debtors were higher at Rs 117.96 crore as of 31 March 2024 compared to Rs 68.12 crore as of 31 March 2023. Cash and bank balance declined from Rs 90.08 crore as of 31 March 2023 to Rs 7.91 crore as of 31 March 2024. Investments declined from Rs 57.31 crore as of 31 March 2023 to Rs 45.31 crore as of 31 March 2024. Fixed assets increased to Rs 75.56 crore as of 31 March 2024 from Rs 72.12 crore as of 31 March 2023. Intangible assets increased from Rs 0.15 crore to Rs 0.69 crore. Cash flow from operating activities decreased to Rs 36.25 crore for year ended March 2024 from Rs 62.95 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 20.00 crore, compared to Rs 15.27 crore during the year ended March 2023.
| Shanthi Gears : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 153.64 | 123.40 | 24.51 | 536.05 | 445.65 | 20.28 | | OPM (%) | 17.32 | 21.60 | -428 bps | 18.99 | 20.16 | -117 bps | | OP | 26.61 | 26.65 | -0.15 | 101.79 | 89.83 | 13.31 | | Other Inc. | 9.52 | 2.78 | 242.45 | 21.06 | 11.24 | 87.37 | | PBIDT | 36.13 | 29.43 | 22.77 | 122.85 | 101.07 | 21.55 | | Interest | 0 | 0 | - | 0 | 0 | - | | PBDT | 36.13 | 29.43 | 22.77 | 122.85 | 101.07 | 21.55 | | Depreciation | 4.22 | 2.88 | 46.53 | 13.21 | 10.88 | 21.42 | | PBT | 31.91 | 26.55 | 20.19 | 109.64 | 90.19 | 21.57 | | PBT before EO | 31.91 | 26.55 | 20.19 | 109.64 | 90.19 | 21.57 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 31.91 | 26.55 | 20.19 | 109.64 | 90.19 | 21.57 | | Taxation | 6.23 | 7.08 | -12.01 | 27.39 | 23.14 | 18.37 | | PAT | 25.68 | 19.47 | 31.90 | 82.25 | 67.05 | 22.67 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 25.68 | 19.47 | 31.90 | 82.25 | 67.05 | 22.67 | | EPS (Rs)* | 3.35 | 2.54 | 31.90 | 10.72 | 8.74 | 22.67 | | | * EPS is on current equity of Rs 7.67 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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