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Results
05-Aug-24
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Analysis
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Nitta Gelatin India
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Lower operating profit
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Consolidated
net sales (including other operating income) of Nitta Gelatin India has
increased 4.93% to Rs 134.61 crore.
Operating profit margin has declined from 30.22% to 20.85%, leading to
27.60% decline in operating profit to Rs 28.07 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 41.01% to 45.25%. Employee cost decreased from 9.49% to
8.89%. Other expenses rose from 21.93%
to 24.24%.
Other
income fell 27.09% to Rs 2.18 crore.
PBIDT fell 27.56% to Rs 30.25 crore.
Provision for interest fell 42.86% to Rs 0.2 crore.
PBDT
fell 27.43% to Rs 30.05 crore. Provision
for depreciation fell 3.83% to Rs 3.52 crore.
Profit
before tax down 29.72% to Rs 26.53 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 6.9
crore, compared to Rs 9.6 crore.
Effective tax rate was 26.01% compared to 25.43%.
Net
profit attributable to owners of the company decreased 28.59% to Rs 19.66
crore.
Promoters’
stake was 74.48% as of 30 June 2024 ,compared to 74.48% as of 30 June 2023
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Full year results
analysis
Net
sales (including other operating income) of Nitta Gelatin India has declined
5.77% to Rs 532.73 crore.
Operating
profit margin has jumped from 19.96% to 23.04%, leading to 8.77% rise in
operating profit to Rs 122.74 crore. Raw
material cost as a % of total sales (net of stock adjustments) decreased from
47.64% to 43.23%. Employee cost
increased from 8.99% to 10.52%. Other
expenses rose from 23.39% to 23.52%.
Other
income rose 1,264.63% to Rs 11.19 crore.
PBIDT rose 17.83% to Rs 133.93 crore.
Provision for interest fell 30.23% to Rs 2.4 crore. Loan funds declined from Rs 39.23 crore as of
31 March 2023 to Rs 14.05 crore as of 31 March 2024. Inventories rose to Rs 96.43 crore as of 31
March 2024 from Rs 93.06 crore as of 31 March 2023. Sundry debtors were lower at Rs 85.31 crore
as of 31 March 2024 compared to Rs 87.75 crore as of 31 March 2023. Cash and bank balance rose to Rs 75.69 crore
as of 31 March 2024 from Rs 30.82 crore as of 31 March 2023. Investments rose to Rs 1.10 crore as of 31
March 2024 from Rs 1.01 crore as of 31 March 2023 .
PBDT
rose 19.33% to Rs 131.53 crore.
Provision for depreciation rose 7.29% to Rs 15.15 crore. Fixed assets increased to Rs 120.96 crore as
of 31 March 2024 from Rs 119.54 crore as of 31 March 2023. Intangible assets declined from Rs 0.94 crore
to Rs 0.78 crore.
Profit
before tax grew 21.10% to Rs 116.38 crore.
Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 32.27
crore, compared to Rs 25.17 crore.
Effective tax rate was 27.73% compared to 25.41%.
Minority
interest decreased 59.05% to Rs 1.47 crore.
Net profit attributable to owners of the company increased 17.54% to Rs
82.64 crore.
Equity
capital stood at Rs 9.08 crore as of 31 March 2024 to Rs 9.08 crore as of 31
March 2023. Per share face Value
remained same at Rs 10.00.
Promoters’
stake was 74.48% as of 31 March 2024 ,compared to 74.48% as of 31 March 2023
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Cash
flow from operating activities decreased to Rs 94.05 crore for year ended March
2024 from Rs 101.04 crore for year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 16.25 crore, compared to Rs 21.63
crore during the year ended March 2023.
The
scrip trades at Rs 810
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Nitta Gelatin India : Consolidated Results
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Particulars
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2406 (03)
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2306 (03)
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Var.(%)
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2403 (12)
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2303 (12)
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Var.(%)
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Net Sales
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134.61
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128.29
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5
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532.73
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565.37
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-6
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OPM (%)
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20.9
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30.2
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23.0
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20.0
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OP
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28.08
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38.77
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-28
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122.73
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112.84
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9
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Other Inc.
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2.18
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2.99
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-27
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11.19
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0.82
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1265
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PBIDT
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30.26
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41.76
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-28
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133.92
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113.66
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18
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Interest
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0.20
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0.35
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-43
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2.40
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3.44
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-30
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PBDT
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30.06
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41.41
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-27
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131.52
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110.22
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19
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Depreciation
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3.52
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3.66
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-4
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15.15
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14.12
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7
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PBT
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26.54
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37.75
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-30
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116.38
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96.1
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21
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Share of Profit/(Loss) from Associates
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0.00
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0.00
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0.00
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0
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PBT before EO
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26.54
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37.75
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-30
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116.38
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96.1
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21
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EO Income
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0.00
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0.00
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0.00
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2.97
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PBT after EO
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26.54
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37.75
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-30
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116.38
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99.07
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17
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Taxation
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6.90
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9.60
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-28
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32.27
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25.17
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28
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PAT
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19.64
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28.15
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-30
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84.11
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73.9
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14
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Minority Interest (MI)
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-0.03
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0.62
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-105
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1.47
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3.59
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-59
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Net profit
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19.66
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27.53
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-29
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82.64
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70.31
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18
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EPS (Rs)*
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#
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#
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91.0
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75.0
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Notes
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* EPS is on current equity of Rs 9.08 crore, Face value of Rs
10, Excluding extraordinary items.
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# EPS is not annualised
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bps : Basis points
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EO : Extraordinary items
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Figures in Rs crore
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Source: Capitaline Corporate Database
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