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Results
29-May-24
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Analysis
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EIH
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Revenue up 16.4% YoY to Rs 741.3 cr, PAT up 164.2% YoY to Rs 222.9 cr in Q4FY2024
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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 ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 741.34 | 637.06 | 16.37 | 2,511.27 | 2,018.81 | 24.39 | | OPM (%) | 41.02 | 32.05 | 897 bps | 36.91 | 29.59 | 732 bps | | OP | 304.12 | 204.20 | 48.93 | 926.91 | 597.40 | 55.16 | | Other Inc. | 39.67 | 26.79 | 48.08 | 114.70 | 77.60 | 47.81 | | PBIDT | 343.79 | 230.99 | 48.83 | 1,041.61 | 675.00 | 54.31 | | Interest | 2.33 | 12.07 | -80.70 | 19.41 | 35.57 | -45.43 | | PBDT | 341.46 | 218.92 | 55.97 | 1,022.20 | 639.43 | 59.86 | | Depreciation | 32.53 | 31.71 | 2.59 | 131.49 | 126.18 | 4.21 | | PBT | 308.93 | 187.21 | 65.02 | 890.71 | 513.25 | 73.54 | | Share of Profit/(Loss) from Associates | 12.57 | 8.74 | 43.82 | 33.8 | 19.68 | 71.75 | | PBT before EO | 321.5 | 195.95 | 64.07 | 924.51 | 532.93 | 73.48 | | EO Income | 16.63 | -51.39 | LP | -7.27 | -69.03 | 89.47 | | PBT after EO | 338.13 | 144.56 | 133.90 | 917.24 | 463.9 | 97.72 | | Taxation | 90.54 | 52.4 | 72.79 | 239.54 | 124.73 | 92.05 | | PAT | 247.59 | 92.16 | 168.65 | 677.7 | 339.17 | 99.81 | | Minority Interest (MI) | 24.66 | 7.79 | 216.56 | 38.6 | 14.52 | 165.84 | | Net profit | 222.93 | 84.37 | 164.23 | 639.1 | 324.65 | 96.86 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | -10.07 | - | | Net profit after discontinued operations | 222.93 | 84.37 | 164.23 | 639.1 | 314.58 | 103.16 | | EPS (Rs)* | 3.39 | 1.81 | 87.79 | 10.30 | 5.95 | 73.12 | | | * 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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