Results     31-May-24
Analysis
International Combustion (India)
Net up 6% even as sales was up 26%
Net sales (including other operating income) of International Combustion (India) for the quarter ended Mar 2024 has increased 25.59% to Rs 81.27 crore.  Operating profit margin has declined from 10.06% to 9.65%, leading to 20.43% rise in operating profit to Rs 7.84 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 52.71% to 52.33%.   Employee cost decreased from 19.79% to 18.37%.   Other expenses rose from 17.02% to 19.27%.   

Other income up 254.84% to Rs 1.1 crore.  PBIDT rose 31.09% to Rs 8.94 crore.  Provision for interest up 29.41% to Rs 0.66 crore.  Loan funds rose to Rs 31.15 crore as of 31 March 2024 from Rs 13.12 crore as of 31 March 2023.  Inventories rose to Rs 70.14 crore as of 31 March 2024 from Rs 53.28 crore as of 31 March 2023.  Sundry debtors were higher at Rs 67.33 crore as of 31 March 2024 compared to Rs 46.49 crore as of 31 March 2023.  Cash and bank balance rose to Rs 5.56 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023.  Investments declined from Rs 11.21 crore as of 31 March 2023 to Rs 9.30 crore as of 31 March 2024.  

PBDT rose 31.22% to Rs 8.28 crore.  Provision for depreciation rose 30.84% to Rs 1.4 crore.  Fixed assets increased to Rs 59.69 crore as of 31 March 2024 from Rs 42.98 crore as of 31 March 2023.  

Profit before tax grew 31.30% to Rs 6.88 crore.  Provision for tax was expense of Rs 3.18 crore, compared to Rs 1.76 crore.  Effective tax rate was 46.22% compared to 33.59%.

Profit after tax rose 6.32% to Rs 3.70 crore.  


Full year results analysis

Net sales (including other operating income) of International Combustion (India) has increased 33.35% to Rs 296.78 crore.  Operating profit margin has jumped from 7.79% to 12.91%, leading to 120.93% rise in operating profit to Rs 38.31 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 53.97% to 52.27%.   Employee cost decreased from 21.39% to 18.70%.   Other expenses fell from 16.96% to 16.20%.   

Other income up 88.78% to Rs 1.85 crore.  PBIDT rose 119.21% to Rs 40.16 crore.  Provision for interest up 53.20% to Rs 3.11 crore.  Loan funds rose to Rs 31.15 crore as of 31 March 2024 from Rs 13.12 crore as of 31 March 2023.  Inventories rose to Rs 70.14 crore as of 31 March 2024 from Rs 53.28 crore as of 31 March 2023.  Sundry debtors were higher at Rs 67.33 crore as of 31 March 2024 compared to Rs 46.49 crore as of 31 March 2023.  Cash and bank balance rose to Rs 5.56 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023.  Investments declined from Rs 11.21 crore as of 31 March 2023 to Rs 9.30 crore as of 31 March 2024.  

PBDT rose 127.44% to Rs 37.05 crore.  Provision for depreciation rose 19.09% to Rs 4.99 crore.  Fixed assets increased to Rs 59.69 crore as of 31 March 2024 from Rs 42.98 crore as of 31 March 2023.  

Profit before tax grew 164.96% to Rs 32.06 crore.  Provision for tax was expense of Rs 12.11 crore, compared to Rs 3.79 crore.  Effective tax rate was 37.77% compared to 31.32%.

Profit after tax rose 140.07% to Rs 19.95 crore.  

Equity capital stood at Rs 2.39 crore as of 31 March 2024 to Rs 2.39 crore as of 31 March 2023.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 52.88% as of 31 March 2024 ,compared to 52.79% as of 31 March 2023 .  


International Combustion (India) : Standalone Results
Quarter endedYear ended
Particulars202403202303Var.(%)202403202303Var.(%)
Net Sales (including other operating income)81.2764.7125.59296.78222.5633.35
OPM (%)9.6510.06-41 bps12.917.79512 bps
OP7.846.5120.4338.3117.34120.93
Other Inc.1.100.31254.841.850.9888.78
PBIDT8.946.8231.0940.1618.32119.21
Interest0.660.5129.413.112.0353.20
PBDT8.286.3131.2237.0516.29127.44
Depreciation1.41.0730.844.994.1919.09
PBT6.885.2431.3032.0612.1164.96
PBT before EO6.885.2431.3032.0612.1164.96
EO Income00-00-
PBT after EO6.885.2431.3032.0612.1164.96
Taxation3.181.7680.6812.113.79219.53
PAT3.73.486.3219.958.31140.07
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations3.73.486.3219.958.31140.07
EPS (Rs)*15.4814.566.3283.4734.77140.07
* EPS is on current equity of Rs 2.39 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



International Combustion (I): Consolidated Segment Results 
Particulars % to total 2403 (3) 2303 (3) Var. (%) % to total 2403 (12) 2303 (12) Var.(%)
Sales
Mineral & Material Processing & Handling Equipment 65 54.32 40.96 33 65 197.33 136.00 45
Geared Motors & Gear Box 26 21.35 19.35 10 27 81.27 68.96 18
Building Materials 9 7.39 6.04 22 8 25.46 21.21 20
Total 100 83.05 66.35 25 100 304.06 226.17 34
Less Inter segment revenue 1.78 1.64 7.27 3.61
Net sales 81.27 64.71 26 296.78 222.56 33
PBIT
Mineral & Material Processing & Handling Equipment 102 14.54 11.05 32 95 58.20 34.59 68
Geared Motors & Gear Box -2 -0.26 0.85 -130 6 3.81 4.36 -13
Building Materials 0 0.03 -0.33 -110 -1 -0.51 -2.26 -77
Total 100 14.31 11.57 24 100 61.50 36.70 68
Less: Interest (net) 0.66 0.51 30 3.11 2.03 53
Less: Others Un-allocable Exp/Income (net) 6.77 5.81 16 26.33 22.57 17
Add: EO
PBT 6.88 5.24 31 32.07 12.10 165
Note: Figures in Rs crore
Source: Capitaline 2000


Previous News
  International Combustion (India) standalone net profit rises 822.22% in the December 2021 quarter
 ( Results - Announcements 31-Jan-22   16:20 )
  International Combustion (India) standalone net profit rises 6.32% in the March 2024 quarter
 ( Results - Announcements 31-May-24   07:32 )
  International Combustion (India) standalone net profit rises 329.06% in the September 2023 quarter
 ( Results - Announcements 21-Oct-23   12:39 )
  International Combustion (India) standalone net profit declines 96.19% in the March 2016 quarter
 ( Results - Announcements 20-May-16   17:08 )
  International Combustion (India) to conduct board meeting
 ( Corporate News - 05-Aug-20   10:31 )
  International Combustion (India) net profit rises 17.86% in the December 2013 quarter
 ( Results - Announcements 22-Jan-14   18:30 )
  International Combustion (India) to hold board meeting
 ( Corporate News - 23-May-22   11:16 )
  International Combustion (India) to hold board meeting
 ( Corporate News - 14-Jul-14   19:20 )
  International Combustion (India) to hold board meeting
 ( Corporate News - 24-Apr-15   14:49 )
  International Combustion (India) standalone net profit rises 163.64% in the March 2023 quarter
 ( Results - Announcements 25-May-23   17:25 )
  International Combustion (India) to hold board meeting
 ( Corporate News - 20-Jan-15   09:54 )
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
  Fluidomat
  31-May-24   11:28
  ISGEC Heavy Engineering
  31-May-24   11:24
Back Top