For the quarter ending March
2024, consolidated Net sales (including other operating income) of Federal-Mogul Goetze (India) has increased 4.42% to Rs 427.81 crore compared to quarter ended March 2023. Operating profit margin has jumped from 13.03% to 16.92%, leading to 35.64% rise in operating profit to Rs 72.39 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 39.51% to 35.60%. Purchase of finished goods cost fell from 1.17% to 0.81%. Employee cost increased from 21.94% to 22.02%. Other expenses rose from 24.63% to 24.90%. Other income rose 13.22% to Rs 8.99 crore. PBIDT rose 32.74% to Rs 81.38 crore. Provision for interest rose 30.77% to Rs 1.36 crore. Loan funds declined from Rs 8.30 crore as of 31 March 2023 to Rs 7.87 crore as of 31 March 2024. Inventories declined from Rs 195.73 crore as of 31 March 2023 to Rs 193.32 crore as of 31 March 2024. Sundry debtors were higher at Rs 283.18 crore as of 31 March 2024 compared to Rs 272.36 crore as of 31 March 2023. Cash and bank balance rose to Rs 418.17 crore as of 31 March 2024 from Rs 330.04 crore as of 31 March 2023. Investments rose to Rs 1.65 crore as of 31 March 2024 from Rs 1.57 crore as of 31 March 2023 .
PBDT rose 32.77% to Rs 80.02 crore. Provision for depreciation rose 6.70% to Rs 21.51 crore. Fixed assets declined from Rs 592.90 crore as of 31 March 2023 to Rs 589.16 crore as of 31 March 2024.
Profit before tax grew 45.87% to Rs 58.51 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 15.34 crore, compared to Rs 5.89 crore. Effective tax rate was 26.22% compared to 14.68%.
Minority interest increased 12.25% to Rs 2.84 crore. Net profit attributable to owners of the company increased 27.26% to Rs 40.33 crore. Equity capital stood at Rs 55.63 crore as of 31 March 2024 to Rs 55.63 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.98% as of 31 March 2024 ,compared to 74.98% as of 31 March 2023 .
Full year results analysis.
Net sales (including other operating income) of Federal-Mogul Goetze (India) has increased 3.76% to Rs 1695.58 crore. Operating profit margin has jumped from 12.81% to 14.06%, leading to 13.95% rise in operating profit to Rs 238.47 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 38.58% to 36.76%. Purchase of finished goods cost fell from 1.27% to 0.41%. Employee cost increased from 21.05% to 22.14%. Other expenses rose from 26.31% to 26.63%. Other income rose 64.82% to Rs 31.81 crore. PBIDT rose 18.24% to Rs 270.28 crore. Provision for interest rose 24.55% to Rs 4.82 crore. Loan funds declined from Rs 8.30 crore as of 31 March 2023 to Rs 7.87 crore as of 31 March 2024. Inventories declined from Rs 195.73 crore as of 31 March 2023 to Rs 193.32 crore as of 31 March 2024. Sundry debtors were higher at Rs 283.18 crore as of 31 March 2024 compared to Rs 272.36 crore as of 31 March 2023. Cash and bank balance rose to Rs 418.17 crore as of 31 March 2024 from Rs 330.04 crore as of 31 March 2023. Investments rose to Rs 1.65 crore as of 31 March 2024 from Rs 1.57 crore as of 31 March 2023 .
PBDT rose 18.13% to Rs 265.46 crore. Provision for depreciation rose 1.14% to Rs 84.62 crore. Fixed assets declined from Rs 592.90 crore as of 31 March 2023 to Rs 589.16 crore as of 31 March 2024.
Profit before tax grew 28.22% to Rs 180.84 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 47.48 crore, compared to Rs 33.66 crore. Effective tax rate was 26.26% compared to 23.87%.
Minority interest decreased 0.46% to Rs 6.48 crore. Net profit attributable to owners of the company increased 25.79% to Rs 126.88 crore.
Equity capital stood at Rs 55.63 crore as of 31 March 2024 to Rs 55.63 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00.
Promoters’ stake was 74.98% as of 31 March 2024 ,compared to 74.98% as of 31 March 2023 .
| Federal-Mogul Goetze (India) : Consolidated Results |
| | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 427.81 | 409.70 | 4.42 | 1,695.58 | 1,634.14 | 3.76 | | OPM (%) | 16.92 | 13.03 | 389 bps | 14.06 | 12.81 | 126 bps | | OP | 72.39 | 53.37 | 35.64 | 238.47 | 209.28 | 13.95 | | Other Inc. | 8.99 | 7.94 | 13.22 | 31.81 | 19.30 | 64.82 | | PBIDT | 81.38 | 61.31 | 32.74 | 270.28 | 228.58 | 18.24 | | Interest | 1.36 | 1.04 | 30.77 | 4.82 | 3.87 | 24.55 | | PBDT | 80.02 | 60.27 | 32.77 | 265.46 | 224.71 | 18.13 | | Depreciation | 21.51 | 20.16 | 6.70 | 84.62 | 83.67 | 1.14 | | PBT | 58.51 | 40.11 | 45.87 | 180.84 | 141.04 | 28.22 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 58.51 | 40.11 | 45.87 | 180.84 | 141.04 | 28.22 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 58.51 | 40.11 | 45.87 | 180.84 | 141.04 | 28.22 | | Taxation | 15.34 | 5.89 | 160.44 | 47.48 | 33.66 | 41.06 | | PAT | 43.17 | 34.22 | 26.15 | 133.36 | 107.38 | 24.19 | | Minority Interest (MI) | 2.84 | 2.53 | 12.25 | 6.48 | 6.51 | -0.46 | | Net profit | 40.33 | 31.69 | 27.26 | 126.88 | 100.87 | 25.79 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 40.33 | 31.69 | 27.26 | 126.88 | 100.87 | 25.79 | | EPS (Rs)* | 7.25 | 5.70 | 27.26 | 22.81 | 18.13 | 25.79 | | | * EPS is on current equity of Rs 55.63 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 |
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