For
quarter ended June 2024, standalone Net sales (including other operating income) of Swaraj Engines has increased 4.54% to Rs 417.99 crore compared to quarter ended June 2023. Operating profit margin has jumped from 13.80% to 13.93%, leading to 5.58% rise in operating profit to Rs 58.24 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 79.05% to 78.43%. Employee cost increased from 2.83% to 3.01%. Other expenses rose from 4.16% to 4.40%. Other income fell 4.79% to Rs 4.37 crore. PBIDT rose 4.79% to Rs 62.61 crore. Provision for interest up 16.67% to Rs 0.07 crore.
PBDT rose 4.77% to Rs 62.54 crore. Provision for depreciation down 2.80% to Rs 4.51 crore.
Profit before tax grew 5.41% to Rs 58.03 crore. Provision for tax was expense of Rs 14.84 crore, compared to Rs 14.13 crore. Effective tax rate was 25.57% compared to 25.67%.
Profit after tax rose 5.55% to Rs 43.19 crore.
Promoters’ stake was 52.12% as of 30 June 2024 ,compared to 52.12% as of 30 June 2023 .
Full year results analysis
Net sales (including other operating income) of Swaraj Engines has declined 0.18% to Rs 1,419.24 crore. Operating profit margin has jumped from 13.11% to 13.26%, leading to 0.94% rise in operating profit to Rs 188.17 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 79.80% to 78.97%. Employee cost decreased from 3.07% to 3.03%. Other expenses rose from 4.06% to 4.71%. Other income up 20.17% to Rs 14.36 crore. PBIDT rose 2.10% to Rs 202.53 crore. Provision for interest up 212.50% to Rs 0.25 crore. Loan funds rose to Rs 0.36 crore as of 31 March 2024 from Rs 0.34 crore as of 31 March 2023. Inventories rose to Rs 70.80 crore as of 31 March 2024 from Rs 69.61 crore as of 31 March 2023. Sundry debtors were lower at Rs 120.19 crore as of 31 March 2024 compared to Rs 128.09 crore as of 31 March 2023. Cash and bank balance rose to Rs 175.69 crore as of 31 March 2024 from Rs 109.07 crore as of 31 March 2023. Investments declined from Rs 26.13 crore as of 31 March 2023 to Rs 20.11 crore as of 31 March 2024.
PBDT rose 2.02% to Rs 202.28 crore. Provision for depreciation down 6.63% to Rs 17.31 crore. Fixed assets increased to Rs 113.28 crore as of 31 March 2024 from Rs 89.50 crore as of 31 March 2023. Intangible assets declined from Rs 0.10 crore to Rs 0.09 crore.
Profit before tax grew 2.91% to Rs 184.97 crore. Provision for tax was expense of Rs 47.1 crore, compared to Rs 46.13 crore. Effective tax rate was 25.46% compared to 25.66%.
Profit after tax rose 3.19% to Rs 137.87 crore.
Promoters’ stake was 52.12% as of 31 March 2024 ,compared to 52.13% as of 31 March 2023 .
Cash flow from operating activities increased to Rs 142.38 crore for year ended March 2024 from Rs 132.83 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 47.79 crore, compared to Rs 12.88 crore during the year ended March 2023.
Other Highlights
The
Company`s Q1 FY25 engine sales registered a growth of 8.9% to reach 41,849
units as compared to last year`s engine sale of 38,437 units.
The
Company`s capacity augmentation program from 1,50,000 units to 1,95,000 units
per annum has also been completed and the aforesaid enhanced engine production
capacity has now become fully operational to meet the future engine demand.