Results     29-May-24
Analysis
EIH
Revenue up 16.4% YoY to Rs 741.3 cr, PAT up 164.2% YoY to Rs 222.9 cr in Q4FY2024
On consolidated basis

Quarter ended March 2024 compared with Quarter ended March 2023.

Net sales (including other operating income) of EIH has increased 16.37% to Rs 741.34 crore.  

Operating profit margin has jumped from 32.05% to 41.02%, leading to 48.93% rise in operating profit to Rs 304.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 8.29% to 8.69%.   Employee cost decreased from 18.19% to 17.53%.   Other expenses fell from 41.46% to 32.75%.   

Other income rose 48.08% to Rs 39.67 crore.  PBIDT rose 48.83% to Rs 343.79 crore.  Provision for interest fell 80.70% to Rs 2.33 crore.  Loan funds declined from Rs 238.39 crore as of 31 March 2023 to Rs 199.31 crore as of 31 March 2024.  Inventories declined from Rs 63.83 crore as of 31 March 2023 to Rs 61.83 crore as of 31 March 2024.  Sundry debtors were lower at Rs 199.99 crore as of 31 March 2024 compared to Rs 224.27 crore as of 31 March 2023.  Cash and bank balance rose to Rs 640.57 crore as of 31 March 2024 from Rs 458.91 crore as of 31 March 2023.  Investments rose to Rs 448.16 crore as of 31 March 2024 from Rs 384.47 crore as of 31 March 2023 .  

PBDT rose 55.97% to Rs 341.46 crore.  Provision for depreciation rose 2.59% to Rs 32.53 crore.  Fixed assets increased to Rs 2,662.29 crore as of 31 March 2024 from Rs 2,580.05 crore as of 31 March 2023.  Intangible assets increased from Rs 386.94 crore to Rs 392.56 crore.  

Profit before tax grew 65.02% to Rs 308.93 crore.  Share of profit/loss was 43.82% higher at Rs 12.57 crore.  Provision for tax was expense of Rs 90.54 crore, compared to Rs 52.4 crore.  Effective tax rate was 26.78% compared to 36.25%.

Minority interest increased 216.56% to Rs 24.66 crore.  Net profit attributable to owners of the company increased 164.23% to Rs 222.93 crore.  

Equity capital stood at Rs 125.07 crore as of 31 March 2024 to Rs 125.07 crore as of 31 March 2023.  Per share face Value remained same at Rs 2.00.  

Promoters’ stake was 32.85% as of 31 March 2024 ,compared to 32.85% as of 31 March 2023 .  

Full year results analysis.

Net sales (including other operating income) of EIH has increased 24.39% to Rs 2511.27 crore.  

Operating profit margin has jumped from 29.59% to 36.91%, leading to 55.16% rise in operating profit to Rs 926.91 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 9.53% to 9.09%.   Employee cost decreased from 21.36% to 19.59%.   Other expenses fell from 39.52% to 34.41%.   

Other income rose 47.81% to Rs 114.7 crore.  PBIDT rose 54.31% to Rs 1041.61 crore.  Provision for interest fell 45.43% to Rs 19.41 crore.  Loan funds declined from Rs 238.39 crore as of 31 March 2023 to Rs 199.31 crore as of 31 March 2024.  Inventories declined from Rs 63.83 crore as of 31 March 2023 to Rs 61.83 crore as of 31 March 2024.  Sundry debtors were lower at Rs 199.99 crore as of 31 March 2024 compared to Rs 224.27 crore as of 31 March 2023.  Cash and bank balance rose to Rs 640.57 crore as of 31 March 2024 from Rs 458.91 crore as of 31 March 2023.  Investments rose to Rs 448.16 crore as of 31 March 2024 from Rs 384.47 crore as of 31 March 2023 .  

PBDT rose 59.86% to Rs 1022.2 crore.  Provision for depreciation rose 4.21% to Rs 131.49 crore.  Fixed assets increased to Rs 2,662.29 crore as of 31 March 2024 from Rs 2,580.05 crore as of 31 March 2023.  Intangible assets increased from Rs 386.94 crore to Rs 392.56 crore.  

Profit before tax grew 73.54% to Rs 890.71 crore.  Share of profit/loss was 71.75% higher at Rs 33.8 crore.  Extraordinary items were increased to Rs -7.27 crore.  Provision for tax was expense of Rs 239.54 crore, compared to Rs 124.73 crore.  Effective tax rate was 26.12% compared to 26.89%.

Minority interest increased 165.84% to Rs 38.60 crore.  Net profit attributable to owners of the company increased 96.86% to Rs 639.10 crore.  

Equity capital stood at Rs 125.07 crore as of 31 March 2024 to Rs 125.07 crore as of 31 March 2023.  Per share face Value remained same at Rs 2.00.  

Promoters’ stake was 32.85% as of 31 March 2024 ,compared to 32.85% as of 31 March 2023 .  

 

Dividend: The board has recommended a Final Dividend of Rs. 1.2/- shares of Rs. 2/- each for the financial year 2023-24.



EIH : Consolidated Results
 Quarter endedYear ended
Particulars202403202303Var.(%)202403202303Var.(%)
Net Sales (including other operating income)741.34637.0616.372,511.272,018.8124.39
OPM (%)41.0232.05897 bps36.9129.59732 bps
OP304.12204.2048.93926.91597.4055.16
Other Inc.39.6726.7948.08114.7077.6047.81
PBIDT343.79230.9948.831,041.61675.0054.31
Interest2.3312.07-80.7019.4135.57-45.43
PBDT341.46218.9255.971,022.20639.4359.86
Depreciation32.5331.712.59131.49126.184.21
PBT308.93187.2165.02890.71513.2573.54
Share of Profit/(Loss) from Associates12.578.7443.8233.819.6871.75
PBT before EO321.5195.9564.07924.51532.9373.48
EO Income16.63-51.39LP-7.27-69.0389.47
PBT after EO338.13144.56133.90917.24463.997.72
Taxation90.5452.472.79239.54124.7392.05
PAT247.5992.16168.65677.7339.1799.81
Minority Interest (MI)24.667.79216.5638.614.52165.84
Net profit222.9384.37164.23639.1324.6596.86
P/(L) from discontinued operations net of tax00-0-10.07-
Net profit after discontinued operations222.9384.37164.23639.1314.58103.16
EPS (Rs)*3.391.8187.7910.305.9573.12
* EPS is on current equity of Rs 125.07 crore, Face value of Rs 2, 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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