 |
Results
10-Nov-24
|
|
|
|
|
|
|
|
Analysis
|
|
|
|
Rupa & Company
|
|
Revenue up 2% YoY to Rs 507.4 cr in H1FY2025
|
|
|
|
|
On consolidated basis
Quarter ended September 2024
compared with Quarter ended September 2023.
Net sales (including other operating income) of Rupa & Company has declined
1.65% to Rs 297.1 crore.
Operating profit margin has declined
from 10.74% to 9.60%, leading to 12.11% decline in operating profit to Rs 28.51
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 47.81% to 48.65%. Purchase of finished
goods cost fell from 1.92% to 1.18%. Employee cost increased from
4.51% to 4.52%. Other expenses rose from 35.41% to 37.53%.
Expenses from contract rose from 21.37% to 25.79%.
Other income fell 1.59% to Rs 4.33
crore. PBIDT fell 10.86% to Rs 32.84 crore. Provision for
interest fell 3.08% to Rs 5.03 crore. Loan funds declined from Rs
267.27 crore as of 30 September 2023 to Rs 221.36 crore as of 30 September
2024. Inventories rose to Rs 568.41 crore as of 30 September 2024
from Rs 543.57 crore as of 30 September 2023. Sundry debtors were
higher at Rs 366.82 crore as of 30 September 2024 compared to Rs 329.55 crore
as of 30 September 2023. Cash and bank balance declined from Rs 194.13
crore as of 30 September 2023 to Rs 165.13 crore as of 30 September
2024.
PBDT fell 12.13% to Rs 27.81
crore. Provision for depreciation fell 3.94% to Rs 3.66
crore. Fixed assets declined from Rs 248.09 crore as of 30 September
2023 to Rs 239.50 crore as of 30 September 2024. Intangible assets
declined from Rs 5.47 crore to Rs 1.06 crore.
Profit before tax down 13.25% to Rs
24.15 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 5.71 crore, compared to
Rs 7.31 crore. Effective tax rate was 23.64% compared to 26.26%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
decreased 10.18% to Rs 18.44 crore.
Equity capital stood at Rs 7.96
crore as of 30 September 2024 to Rs 7.96 crore as of 30 September
2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 73.28% as of 30
September 2024 ,compared to 73.28% as of 30 September 2023 .
Year-to-date (YTD) results
analysis.
Net sales (including other operating income) of Rupa & Company has
increased 1.99% to Rs 507.4 crore.
Operating profit margin has jumped
from 8.80% to 9.16%, leading to 6.21% rise in operating profit to Rs 46.50
crore. Raw material cost as a % of total sales (net of stock
adjustments) increased from 48.53% to 50.28%. Purchase of finished
goods cost fell from 1.79% to 1.43%. Employee cost decreased from
4.96% to 4.56%. Other expenses fell from 36.83% to 36.71%.
Expenses from contract rose from 20.95% to 23.85%.
Other income rose 18.59% to Rs 9.06
crore. PBIDT rose 8.05% to Rs 55.56 crore. Provision for
interest fell 5% to Rs 9.88 crore. Loan funds declined from Rs
267.27 crore as of 30 September 2023 to Rs 221.36 crore as of 30 September
2024. Inventories rose to Rs 568.41 crore as of 30 September 2024
from Rs 543.57 crore as of 30 September 2023. Sundry debtors were
higher at Rs 366.82 crore as of 30 September 2024 compared to Rs 329.55 crore
as of 30 September 2023. Cash and bank balance declined from Rs
194.13 crore as of 30 September 2023 to Rs 165.13 crore as of 30 September
2024.
PBDT rose 11.36% to Rs 45.68
crore. Fixed assets declined from Rs 248.09 crore as of 30 September
2023 to Rs 239.50 crore as of 30 September 2024. Intangible assets
declined from Rs 5.47 crore to Rs 1.06 crore.
Profit before tax grew 13.80% to Rs
38.42 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 9.51 crore, compared to
Rs 9 crore. Effective tax rate was 24.75% compared to 26.66%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 16.76% to Rs 28.91 crore.
Equity capital stood at Rs 7.96
crore as of 30 September 2024 to Rs 7.96 crore as of 30 September
2023. Per share face Value remained same at Rs 1.00.
Promoters’ stake was 73.28% as of 30
September 2024 ,compared to 73.28% as of 30 September 2023 .
Cash flow from operating activities
has turned negative Rs 3.32 crore for YTD ended September 2024 from positive Rs
91.39 crore for YTD ended September 2023. Cash flow used in
acquiring fixed assets during the YTD ended September 2024 stood at Rs 2.98
crore, compared to Rs 8.04 crore during the YTD ended September
2023.
Full year results analysis.
Net sales (including other operating income) of Rupa & Company has
increased 6.42% to Rs 1216.51 crore.
Operating profit margin has jumped
from 7.78% to 9.63%, leading to 31.65% rise in operating profit to Rs 117.10
crore. Raw material cost as a % of total sales (net of stock adjustments)
decreased from 47.31% to 45.34%. Purchase of finished goods cost
fell from 2.22% to 2.04%. Employee cost decreased from 5.49% to
4.96%. Other expenses rose from 36.62% to 37.38%.
Expenses from contract rose from 19.77% to 21.74%.
Other income rose 3.77% to Rs 16.79
crore. PBIDT rose 27.36% to Rs 133.89 crore. Provision
for interest fell 8.79% to Rs 20.65 crore. Loan funds declined from
Rs 258.20 crore as of 31 March 2023 to Rs 234.74 crore as of 31 March
2024. Inventories declined from Rs 486.19 crore as of 31 March 2023
to Rs 423.05 crore as of 31 March 2024. Sundry debtors were higher
at Rs 488.21 crore as of 31 March 2024 compared to Rs 432.92 crore as of 31
March 2023. Cash and bank balance rose to Rs 220.97 crore as of 31
March 2024 from Rs 114.05 crore as of 31 March 2023.
PBDT rose 37.28% to Rs 113.24
crore. Provision for depreciation rose 11.09% to Rs 14.73
crore. Fixed assets declined from Rs 247.93 crore as of 31 March
2023 to Rs 243.13 crore as of 31 March 2024. Intangible assets
declined from Rs 5.89 crore to Rs 1.22 crore.
Profit before tax grew 42.29% to Rs
98.51 crore. Share of profit/loss were nil in both the
periods. Provision for tax was expense of Rs 24.91 crore, compared
to Rs 15.5 crore. Effective tax rate was 26.31% compared to 22.39%.
Minority interest was nil in both
the periods. Net profit attributable to owners of the company
increased 29.87% to Rs 69.78 crore.
Equity capital stood at Rs 7.96
crore as of 31 March 2024 to Rs 7.96 crore as of 31 March 2023. Per
share face Value remained same at Rs 1.00.
Promoters’ stake was 73.28% as of 31
March 2024 ,compared to 73.28% as of 31 March 2023 .
Cash flow from operating activities
decreased to Rs 155.66 crore for year ended March 2024 from Rs 184.85 crore for
year ended March 2023. Cash flow used in acquiring fixed assets
during the year ended March 2024 stood at Rs 9.98 crore, compared to Rs 30.48
crore during the year ended March 2023.
Management Commentary:
“We are pleased to present
comprehensive overview of the performance of the Company this quarter and half
year ended September 2024. For the half year, we have reported a stable
performance - our volume grew by 5%, and the value grew by 2%. The industry
continues to witness aggressive price strategies and resistance for price
increase post stabilization of yarn prices. Additionally, demand usually associated
with the festive season has partially shifted to Q3 this financial year. We
expect improved performance in the coming quarters, with a potential boost from
thermal wear sales, athleisure and modern trade business.
Revenues for the quarter stood at
Rs. 297 crores, a decline of 1.6% YoY, impacted mainly due to aggressive price
strategies vis-à-vis growth in volume by 2%. In terms of sales volumes for the
first half of the year, athleisure segment showed a promising growth of 35%.
Revenues from Modern Trade also demonstrated a robust growth of 35% in H1 FY25,
contributing 7% to the overall revenues. This underscores our strong presence
in major online platforms. Additionally, we have also observed a significant
growth of 25% in X-factors areas in H1 FY25. This showcases our successful
utilization of diverse revenues streams. Exports remained subdued, with export
revenue at Rs. 14 crores, contributing 3% to total revenues.
Amidst these challenging conditions,
our efforts were focused on efficient working capital management and reducing
debt. As on Sept’24 our net debt stands at Rs. 20 crores. Our branding and
advertisement expenses as on H1 FY25 stood at Rs. 33 crores which stood at 6.5%
of our overall revenues. Our Exclusive Brand Outlet (EBO) count reached 31
stores as of H1 FY25, and we continue to expand our retail footprint to reach a
broader customer base.
Looking ahead, we aspire to reach
new business milestones and bring innovative products to our diverse range of
customer segments. Our commitment to a customer-first approach will be key to
reinforcing our leadership in the industry and advancing a sustainable business
model.”
| Rupa & Company : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202409 | 202309 | Var.(%) | 202409 | 202309 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 297.10 | 302.09 | -1.65 | 507.40 | 497.52 | 1.99 | 1,216.51 | 1,143.09 | 6.42 | | OPM (%) | 9.60 | 10.74 | -114 bps | 9.16 | 8.80 | 36 bps | 9.63 | 7.78 | 184 bps | | OP | 28.51 | 32.44 | -12.11 | 46.50 | 43.78 | 6.21 | 117.10 | 88.95 | 31.65 | | Other Inc. | 4.33 | 4.40 | -1.59 | 9.06 | 7.64 | 18.59 | 16.79 | 16.18 | 3.77 | | PBIDT | 32.84 | 36.84 | -10.86 | 55.56 | 51.42 | 8.05 | 133.89 | 105.13 | 27.36 | | Interest | 5.03 | 5.19 | -3.08 | 9.88 | 10.40 | -5.00 | 20.65 | 22.64 | -8.79 | | PBDT | 27.81 | 31.65 | -12.13 | 45.68 | 41.02 | 11.36 | 113.24 | 82.49 | 37.28 | | Depreciation | 3.66 | 3.81 | -3.94 | 7.26 | 7.26 | 0 | 14.73 | 13.26 | 11.09 | | PBT | 24.15 | 27.84 | -13.25 | 38.42 | 33.76 | 13.80 | 98.51 | 69.23 | 42.29 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 24.15 | 27.84 | -13.25 | 38.42 | 33.76 | 13.80 | 98.51 | 69.23 | 42.29 | | EO Income | 0 | 0 | - | 0 | 0 | - | -3.82 | 0 | - | | PBT after EO | 24.15 | 27.84 | -13.25 | 38.42 | 33.76 | 13.80 | 94.69 | 69.23 | 36.78 | | Taxation | 5.71 | 7.31 | -21.89 | 9.51 | 9 | 5.67 | 24.91 | 15.5 | 60.71 | | PAT | 18.44 | 20.53 | -10.18 | 28.91 | 24.76 | 16.76 | 69.78 | 53.73 | 29.87 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 18.44 | 20.53 | -10.18 | 28.91 | 24.76 | 16.76 | 69.78 | 53.73 | 29.87 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 18.44 | 20.53 | -10.18 | 28.91 | 24.76 | 16.76 | 69.78 | 53.73 | 29.87 | | EPS (Rs)* | 2.32 | 2.58 | -10.18 | 3.64 | 3.11 | 16.76 | 9.13 | 6.76 | 35.10 | | | * EPS is on current equity of Rs 7.95 crore, Face value of Rs 1, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
|
|
|
|
|
Previous News |
Rupa & Company consolidated net profit rises 21.70% in the September 2023 quarter
(
Results
-
Announcements
07-Nov-23
07:45
)
|
|
|
Rupa & Company
(
Results
-
Analysis
24-May-22
10:39
)
|
|
|
Rupa & Company standalone net profit rises 10.78% in the June 2018 quarter
(
Results
-
Announcements
11-Aug-18
12:43
)
|
|
|
Rupa & Company ropes in Anushka Sharma as brand ambassador for Softline leggings
(
Corporate News
-
20-Sep-18
18:14
)
|
|
|
Rupa & Company to table results
(
Corporate News
-
02-Aug-19
12:25
)
|
|
|
Rupa & Company to hold board meeting
(
Corporate News
-
07-Nov-22
12:02
)
|
|
|
Rupa & Company schedules AGM
(
Corporate News
-
14-Jul-22
16:39
)
|
|
|
Rupa & Company standalone net profit declines 40.09% in the June 2017 quarter
(
Results
-
Announcements
11-Aug-17
16:25
)
|
|
|
Rupa & Company to hold board meeting
(
Corporate News
-
24-Jul-15
17:22
)
|
|
|
Rupa & Company to hold board meeting
(
Corporate News
-
13-Oct-15
09:56
)
|
|
|
Rupa & Company consolidated net profit rises 34.29% in the December 2021 quarter
(
Results
-
Announcements
08-Feb-22
17:28
)
|
|
|
|
|
|
Other Stories |
|
|
|
|
|
|
|
|
|
|
|
|
|