Capitaline

Results 11-Feb-25

Analysis

EPL

PBT up 8%

Net sales (including other operating income) of EPL has increased 4.02% to Rs 1014.3 crore. Sales of AMESA segment has gone up 1% to Rs 353.5 crore (accounting for 32% of total sales). Sales of EAP segment has gone down 1% to Rs 250 crore (accounting for 23% of total sales). Sales of AMERICAS segment rose 7% to Rs 271.3 crore (accounting for 25% of total sales). Sales of EUROPE segment has gone up 9% to Rs 225.7 crore (accounting for 21% of total sales). Inter-segment sales fell from Rs 87.7 crore to Rs 86.2 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 21% to Rs 119.9 crore. PBIT of AMESA segment fell 13% to Rs 34.1 crore (accounting for 28% of total PBIT). PBIT of EAP segment fell 8% to Rs 37.9 crore (accounting for 32% of total PBIT). PBIT of AMERICAS segment rose 67% to Rs 29.2 crore (accounting for 24% of total PBIT). PBIT of EUROPE segment rose 909% to Rs 23.2 crore (accounting for 19% of total PBIT).

PBIT margin of AMESA segment fell from 11.2% to 9.6%. PBIT margin of EAP segment fell from 16.3% to 15.2%. PBIT margin of AMERICAS segment rose from 6.9% to 10.8%. PBIT margin of EUROPE segment rose from 1.1% to 10.3%. Overall PBIT margin rose from 9.3% to 10.9%.

Operating profit margin has jumped from 18.81% to 19.88%, leading to 9.92% rise in operating profit to Rs 201.60 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 42.65% to 42.51%. Other expenses fell from 19.23% to 18.91%.

Other income fell 46.41% to Rs 12.7 crore. PBIDT rose 3.48% to Rs 214.3 crore. Provision for interest fell 6.80% to Rs 27.4 crore.

PBDT rose 5.18% to Rs 186.9 crore. Provision for depreciation rose 2.49% to Rs 86.3 crore.

Profit before tax grew 7.59% to Rs 100.60 crore. Provision for tax was expense of Rs 6.4 crore, compared to Rs 7 crore. Effective tax rate was 6.37% compared to 7.42%.

Minority interest decreased 50% to Rs 0.60 crore. Net profit attributable to owners of the company increased 8.59% to Rs 93.50 crore.

Promoters’ stake was 51.45% as of 31 December 2024 ,compared to 51.50% as of 31 December 2023 .

For year-to-date (YTD) results analysis

Net sales (including other operating income) of EPL has increased 7.66% to Rs 3107.9 crore. Sales of AMESA segment has gone up 5% to Rs 1114.3 crore (accounting for 33% of total sales). Sales of EAP segment has gone up 7% to Rs 761.5 crore (accounting for 22% of total sales). Sales of AMERICAS segment rose 12% to Rs 805.9 crore (accounting for 24% of total sales). Sales of EUROPE segment has gone up 13% to Rs 719 crore (accounting for 21% of total sales). Inter-segment sales rose from Rs 249.6 crore to Rs 292.8 crore.

Profit before interest, tax and other unallocable items (PBIT) has jumped 25% to Rs 298.5 crore. PBIT of AMESA segment rose 1% to Rs 121.1 crore (accounting for 34% of total PBIT). PBIT of EAP segment rose 1% to Rs 120.2 crore (accounting for 33% of total PBIT). PBIT of AMERICAS segment rose 149% to Rs 72.1 crore (accounting for 20% of total PBIT). PBIT of EUROPE segment rose 322% to Rs 62.5 crore (accounting for 17% of total PBIT).

PBIT margin of AMESA segment fell from 11.3% to 10.9%. PBIT margin of EAP segment fell from 16.7% to 15.8%. PBIT margin of AMERICAS segment rose from 4% to 8.9%. PBIT margin of EUROPE segment rose from 2.3% to 8.7%. Overall PBIT margin rose from 8.8% to 10.6%.

Operating profit margin has jumped from 18.13% to 19.56%, leading to 16.14% rise in operating profit to Rs 607.90 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 43.20% to 41.90%. Employee cost increased from 19.53% to 19.68%. Other expenses fell from 19.44% to 19.23%.

Other income fell 23.33% to Rs 33.2 crore. PBIDT rose 13.13% to Rs 641.1 crore. Provision for interest rose 2.40% to Rs 85.5 crore.

PBDT rose 14.98% to Rs 555.6 crore. Provision for depreciation rose 2.95% to Rs 255.1 crore.

Profit before tax grew 27.66% to Rs 300.50 crore. Provision for tax was expense of Rs 50.4 crore, compared to Rs 43 crore. Effective tax rate was 16.88% compared to 18.07%.

Minority interest decreased 17.07% to Rs 3.40 crore. Net profit attributable to owners of the company increased 28.18% to Rs 244.70 crore.

Promoters’ stake was 51.45% as of 31 December 2024 ,compared to 51.50% as of 31 December 2023 .

The scrip is currently trading at Rs 249

EPL : Consolidated Results
Particulars	2412 (03)	2312 (03)	Var.(%)	2412 (09)	2312 (09)	Var.(%)	2403 (12)	2303 (12)	Var.(%)
Net Sales	1,014.30	975.1	4	3,107.90	2886.9	8	3,916.10	3,694.10	6
OPM (%)	19.9	18.8		19.6	18.1		18.2	15.6
OP	201.60	183.40	10	607.90	523.40	16	714.30	577.80	24
Other Inc.	12.7	23.7	-46	33.2	43.3	-23	59.4	42.1	41
PBIDT	214.30	207.10	3	641.10	566.70	13	773.70	619.9	25
Interest	27.4	29.4	-7	85.5	83.5	2	115.6	67.4	72
PBDT	186.90	177.70	5	555.60	483.20	15	658.10	552.5	19
Depreciation	86.3	84.2	2	255.1	247.8	3	332.8	280.5	19
PBT	100.60	93.50	8	300.50	235.40	28	325.30	272	20
Share of Profit/(Loss) from Associates	-0.1	0.8	-113	-2	2.6	-177	3.5	-2.9	LP
PBT before EO	100.50	94.30	7	298.50	238.00	25	328.80	269.1	22
EO Income	0.00	0.00		0.00	0.00		-60.5	-1.1	999
PBT after EO	100.50	94.30	7	298.50	238.00	25	268.3	268	0
Taxation	6.4	7	-9	50.4	43	17	58.20	37.30	56
PAT	94.10	87.30	8	248.10	195.00	27	210.1	230.7	-9
PPA	0.00	0.00		0.00	0.00		0.00	0.00
PAT after PPA	94.10	87.30	8	248.10	195.00	27	210.1	230.7	-9
Minority Interest (MI)	0.6	1.1	-45	3.4	4.1	-17	-3.1	4	LP
Net profit	93.50	86.20	8	244.70	190.90	28	213.2	226.7	-6
EPS (Rs)*	#	#		#	#		8.2	7.2
Notes
* EPS is on current equity of Rs 63.64 crore, Face value of Rs 2, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

EPL : Consolidated Segment Results
	% of (Total)	2412 (03)	2312 (03)	Var.(%)	% of (Total)	2412 (09)	2312 (09)	Var.(%)	% of (Total)	2403 (12)	2303 (12)	Var.(%)
Sales
AMESA	32	353.5	350	1	33	1114.3	1064.9	5	33	1,418.50	1,369.20	4
EAP	23	250	252.4	-1	22	761.5	712.7	7	22	935.6	849.8	10
AMERICAS	25	271.3	252.8	7	24	805.9	722.5	12	23	988.9	875.8	13
EUROPE	21	225.7	207.6	9	21	719	636.4	13	21	892.7	843.5	6
Total Reported Sales	100	1,100.5	1,062.80	4	100	3,400.7	3,136.50	8	100	4,235.7	3,938.30	8
Less: Inter segment revenues		86.2	87.7	-2		292.8	249.6	17		319.6	244.2	31
Net Sales		1,014.30	975.10	4		3,107.90	2,886.90	8		3,916.10	3,694.10	6
PBIT
AMESA	28	34.1	39.2	-13	34	121.1	120.3	1	42	161.7	146.9	10
EAP	32	37.9	41.2	-8	33	120.2	119.1	1	38	146.2	123.7	18
AMERICAS	24	29.2	17.5	67	20	72.1	29	149	14	53.0	37.9	40
EUROPE	19	23.2	2.3	909	17	62.5	14.8	322	6	24.7	20.2	22
Inter segment revenues	-4	-4.5	-1		-4	-16	-7.6		-1	-4.1	-10.1	-59
Total PBIT	100	119.9	99.2	21	100	359.9	275.6	31	100	381.5	318.6	20
Less : Interest		27.4	29.4	-7		85.5	83.5	2		115.6	67.4	72
Add: Other un-allcoable		8.0	24.5	LP		24.1	45.9	LP		2.4	16.8	LP
PBT		100.5	94.3	7		298.5	238.0	25		268.3	268.0	0

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