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Standalone net sales (including other operating income) of Ratnaveer Precision Engineering for the quarter ended Jun 2024 has increased 73.57% to Rs 204.22 crore. Operating profit margin has declined from 12.42% to 12.05%, leading to 68.38% rise in operating profit to Rs 24.60 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 82.11% to 84.17%. Employee cost decreased from 1.41% to 0.90%. Other expenses fell from 4.38% to 3.65%. Other income up 17.31% to Rs 0.61 crore. PBIDT rose 66.62% to Rs 25.21 crore. Provision for interest up 39.07% to Rs 4.77 crore. PBDT rose 74.70% to Rs 20.44 crore. Provision for depreciation rose 190.29% to Rs 2.99 crore. Profit before tax grew 63.54% to Rs 17.45 crore. Provision for tax was expense of Rs 4.94 crore, compared to Rs 2.46 crore. Effective tax rate was 28.31% compared to 23.06%. Profit after tax rose 52.38% to Rs 12.51 crore.
Full year results analysis
Net sales (including other operating income) of Ratnaveer Precision Engineering has increased 24.10% to Rs 595.38 crore. Sales of Domestic segment has gone up 42.03% to Rs 550.44 crore (accounting for 92.45% of total sales). Sales of Outside India segment has gone down 51.25% to Rs 44.94 crore (accounting for 7.55% of total sales). Profit before interest, tax and other unallocable items (PBIT) has jumped 19.01% to Rs 51.18 crore. PBIT of Domestic segment rose 19.01% to Rs 51.18 crore (accounting for 100.00% of total PBIT). PBIT margin of Domestic segment fell from 11.10% to 9.30%. Overall PBIT margin fell from 8.96% to 8.60%. Operating profit margin has declined from 9.51% to 8.39%, leading to 9.56% rise in operating profit to Rs 49.98 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 82.74% to 87.20%. Employee cost decreased from 1.56% to 1.05%. Other expenses fell from 6.69% to 4.06%. Other income up 401.43% to Rs 7.02 crore. PBIDT rose 21.23% to Rs 57 crore. Provision for interest fell 1.63% to Rs 12.09 crore. Loan funds declined from Rs 229.99 crore as of 31 March 2023 to Rs 207.24 crore as of 31 March 2024. Inventories rose to Rs 244.93 crore as of 31 March 2024 from Rs 205.83 crore as of 31 March 2023. Sundry debtors were lower at Rs 44.77 crore as of 31 March 2024 compared to Rs 63.37 crore as of 31 March 2023. Cash and bank balance rose to Rs 59.54 crore as of 31 March 2024 from Rs 30.37 crore as of 31 March 2023. PBDT rose 29.31% to Rs 44.91 crore. Provision for depreciation rose 44.78% to Rs 5.82 crore. Fixed assets increased to Rs 85.40 crore as of 31 March 2024 from Rs 43.66 crore as of 31 March 2023. Intangible assets increased from Rs 15.21 crore to Rs 33.64 crore. Profit before tax grew 27.29% to Rs 39.09 crore. Provision for tax was expense of Rs 8.04 crore, compared to Rs 5.67 crore. Effective tax rate was 20.57% compared to 18.46%. Profit after tax rose 24% to Rs 31.05 crore. Others Promoters’ stake was 55.48% as of 30 June 2024 ,compared to 55.48% as of 31 March 2024 . Cash flow from operating activities increased to Rs 12.35 crore for year ended March 2024 from Rs 0.47 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 66.01 crore, compared to Rs 18.46 crore during the year ended March 2023.
| Ratnaveer Precision Engineering : Standalone Results | | Quarter ended | Year ended |
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| Particulars | 202406 | 202306 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 204.22 | 117.66 | 73.57 | 595.38 | 479.75 | 24.10 | | OPM (%) | 12.05 | 12.42 | -37 bps | 8.39 | 9.51 | -111 bps | | OP | 24.60 | 14.61 | 68.38 | 49.98 | 45.62 | 9.56 | | Other Inc. | 0.61 | 0.52 | 17.31 | 7.02 | 1.40 | 401.43 | | PBIDT | 25.21 | 15.13 | 66.62 | 57.00 | 47.02 | 21.23 | | Interest | 4.77 | 3.43 | 39.07 | 12.09 | 12.29 | -1.63 | | PBDT | 20.44 | 11.70 | 74.70 | 44.91 | 34.73 | 29.31 | | Depreciation | 2.99 | 1.03 | 190.29 | 5.82 | 4.02 | 44.78 | | PBT | 17.45 | 10.67 | 63.54 | 39.09 | 30.71 | 27.29 | | PBT before EO | 17.45 | 10.67 | 63.54 | 39.09 | 30.71 | 27.29 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 17.45 | 10.67 | 63.54 | 39.09 | 30.71 | 27.29 | | Taxation | 4.94 | 2.46 | 100.81 | 8.04 | 5.67 | 41.80 | | PAT | 12.51 | 8.21 | 52.38 | 31.05 | 25.04 | 24.00 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 12.51 | 8.21 | 52.38 | 31.05 | 25.04 | 24.00 | | EPS (Rs)* | 2.58 | 1.69 | 52.38 | 6.40 | 5.16 | 24.00 | | | * EPS is on current equity of Rs 48.50 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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