Results     31-May-24
Analysis
India Nippon Electricals
Solid performance
Consolidated net sales (including other operating income) of India Nippon Electricals has increased 23.87% to Rs 195.68 crore.  Operating profit margin has jumped from 9.43% to 11.04%, leading to 45.03% rise in operating profit to Rs 21.61 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 64.54% to 62.65%.   Purchase of finished goods cost rose from 2.61% to 4.00%.   Employee cost increased from 11.93% to 12.22%.   Other expenses fell from 11.46% to 9.84%.   Other direct service cost fell from 4.43% to 4.34%.  

Other income rose 64.88% to Rs 8.31 crore.  PBIDT rose 50.05% to Rs 29.92 crore.  Loan funds declined from Rs 3.65 crore as of 31 March 2023 to Rs 2.94 crore as of 31 March 2024.  Inventories rose to Rs 69.17 crore as of 31 March 2024 from Rs 56.06 crore as of 31 March 2023.  Sundry debtors were higher at Rs 141.75 crore as of 31 March 2024 compared to Rs 119.47 crore as of 31 March 2023.  Cash and bank balance declined from Rs 22.82 crore as of 31 March 2023 to Rs 18.91 crore as of 31 March 2024.  Investments rose to Rs 431.86 crore as of 31 March 2024 from Rs 355.02 crore as of 31 March 2023 . 

PBDT rose 50.28% to Rs 29.83 crore.  Provision for depreciation rose 0.26% to Rs 3.82 crore.  Fixed assets increased to Rs 154.79 crore as of 31 March 2024 from Rs 145.65 crore as of 31 March 2023.  Intangible assets declined from Rs 1.59 crore to Rs 1.45 crore. 

Profit before tax grew 62.16% to Rs 26.01 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 5.59 crore, compared to Rs 1.83 crore.  Effective tax rate was 21.49% compared to 11.41%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 43.70% to Rs 20.42 crore. 

Equity capital stood at Rs 11.31 crore as of 31 March 2024 to Rs 11.31 crore as of 31 March 2023.  Per share face Value remained same at Rs 5.00. 

Promoters’ stake was 70.37% as of 31 March 2024 compared to 70.39% as of 31 March 2023. 

Full year results analysis

Net sales (including other operating income) of India Nippon Electricals has increased 10.34% to Rs 724.08 crore.  Operating profit margin has jumped from 8.06% to 9.17%, leading to 25.50% rise in operating profit to Rs 66.39 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 66.91% to 65.64%.   Purchase of finished goods cost rose from 2.50% to 3.37%.   Employee cost increased from 12.09% to 12.14%.   Other expenses fell from 10.49% to 9.69%.   Other direct service cost fell from 4.38% to 4.00%.    

Other income rose 10.24% to Rs 24.87 crore.  PBIDT rose 20.94% to Rs 91.26 crore.  Provision for interest fell 7.14% to Rs 0.39 crore.  Loan funds declined from Rs 3.65 crore as of 31 March 2023 to Rs 2.94 crore as of 31 March 2024.  Inventories rose to Rs 69.17 crore as of 31 March 2024 from Rs 56.06 crore as of 31 March 2023.  Sundry debtors were higher at Rs 141.75 crore as of 31 March 2024 compared to Rs 119.47 crore as of 31 March 2023.  Cash and bank balance declined from Rs 22.82 crore as of 31 March 2023 to Rs 18.91 crore as of 31 March 2024.  Investments rose to Rs 431.86 crore as of 31 March 2024 from Rs 355.02 crore as of 31 March 2023 . 

PBDT rose 21.10% to Rs 90.87 crore.  Provision for depreciation rose 3.21% to Rs 15.09 crore.  Fixed assets increased to Rs 154.79 crore as of 31 March 2024 from Rs 145.65 crore as of 31 March 2023.  Intangible assets declined from Rs 1.59 crore to Rs 1.45 crore. 

Profit before tax grew 25.42% to Rs 75.78 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 16.48 crore, compared to Rs 12.19 crore.  Effective tax rate was 21.75% compared to 20.18%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 22.95% to Rs 59.30 crore. 

Equity capital stood at Rs 11.31 crore as of 31 March 2024 to Rs 11.31 crore as of 31 March 2023.  Per share face Value remained same at Rs 5.00. 

Promoters’ stake was 70.37% as of 31 March 2024 compared to 70.39% as of 31 March 2023 . 

The scrip is currently trading at Rs 655

 

 

India Nippon Electricals : Consolidated Results

Particulars

2403 (03)

2303 (03)

Var.(%)

2403 (12)

2303 (12)

Var.(%)

Net Sales

195.68

157.97

24

724.08

656.25

10

OPM (%)

11.0

9.4

 

9.2

8.1

 

OP

21.61

14.9

45

66.39

52.9

26

Other Inc.

8.31

5.04

65

24.87

22.56

10

PBIDT

29.92

19.94

50

91.26

75.46

21

Interest

0.09

0.09

0

0.39

0.42

-7

PBDT

29.83

19.85

50

90.87

75.04

21

Depreciation

3.82

3.81

0

15.09

14.62

3

PBT

26.01

16.04

62

75.78

60.42

25

Share of Profit/(Loss) from Associates

0

0

 

0

0

 

PBT before EO

26.01

16.04

62

75.78

60.42

25

EO Income

0

0

 

0

0

 

PBT after EO

26.01

16.04

62

75.78

60.42

25

Taxation

5.59

1.83

205

16.48

12.19

35

PAT

20.42

14.21

44

59.3

48.23

23

Minority Interest (MI)

0

0

 

0

0

 

Net profit

20.42

14.21

44

59.3

48.23

23

EPS (Rs)*

#

#

 

26.2

21.3

 

Notes

* EPS is on current equity of Rs 11.31 crore, Face value of Rs 5, Excluding extraordinary items.

# EPS is not annualised

bps : Basis points

EO : Extraordinary items

Figures in Rs crore

Source: Capitaline Corporate Database

 



Previous News
  India Nippon Electricals standalone net profit declines 3.26% in the September 2020 quarter
 ( Results - Announcements 13-Nov-20   13:32 )
  India Nippon Electricals consolidated net profit rises 111.43% in the December 2020 quarter
 ( Results - Announcements 13-Feb-21   11:49 )
  India Nippon Electricals consolidated net profit rises 41.07% in the March 2022 quarter
 ( Results - Announcements 26-May-22   16:52 )
  India Nippon Electricals consolidated net profit rises 29.29% in the September 2021 quarter
 ( Results - Announcements 14-Nov-21   16:26 )
  Board of India Nippon Electricals recommends interim dividend
 ( Corporate News - 13-Feb-24   14:12 )
  India Nippon Electricals to convene board meeting
 ( Corporate News - 23-May-24   19:02 )
  India Nippon Electricals fixes record date for interim dividend
 ( Market Beat - Reports 09-Feb-19   15:59 )
  India Nippon Electricals consolidated net profit rises 6.30% in the June 2022 quarter
 ( Results - Announcements 11-Aug-22   08:43 )
  India Nippon Electrical
 ( Results - Analysis 20-May-17   21:36 )
  India Nippon Electricals to discuss results
 ( Corporate News - 30-Jul-20   10:51 )
  Outcome of board meeting of India Nippon Electricals
 ( Corporate News - 23-Mar-15   20:01 )
Other Stories
  Plastiblends India
  14-Jul-24   15:45
  Avenue Supermarts
  14-Jul-24   07:07
  HCL Technologies
  13-Jul-24   06:27
  Tata Consultancy Services
  12-Jul-24   09:47
  Tata Elxsi
  11-Jul-24   05:54
  Shalby
  08-Jul-24   18:33
  Apollo Hospitals Enterprise
  04-Jun-24   10:04
  ITL Industries
  01-Jun-24   02:14
  International Combustion (India)
  31-May-24   11:32
  Fluidomat
  31-May-24   11:28
Back Top