Zodiac Clothing has reported good performance in the quarter ended March 12. The company has reported 59% increase in the consolidated Net profit at Rs 3.61 crore despite a subdued sales growth of 5% to Rs 90.20 crore. Strong 320 bps jump in the operating margins to 8.2% boosted profitability.
Quarterly Performance:
For the quarter ended March 12, the company has posted small 5% increase in the consolidated total income from operations at Rs 90.20 crore. Raw material cost as % of sales net of stock adjustments slipped jumped up 350 bps to 68.7% while staff cost inched up 30 bps to 17.6%. However, other expenses reported steep fall by 760 bps to 4.9% and boosted OPM up 8.2% in quarter under review against meager 5% in the corresponding previous year. Resultantly operating profit jumped up 72% to Rs 7.39 crore.
Other income declined 19% to Rs 2.41 crore while interest cost inched up 31% to Rs 2.90 crore and depreciation increased 9% to Rs 2.67 crore. PBT was thus higher by 63% to Rs 4.23 crore. After considering 94% jump in taxation at Rs 0.62 crore, Net Profit was higher by 59% to Rs 3.61 crore.
On the standalone front, it has reported 557% jump in the Net profit at Rs 3.81 crore over marginal 3% increase in the total income from operations at Rs 74.99 crore. Sharp rise in the operating profit margin from 0.3% to 4% in the quarter has propelled growth in profitability.
Yearly Performance:
For the year ended March 12, the company has reported 47% dip in the net profit at Rs 17.75 crore over 6% increase in the sales at Rs 377.55 crore. Sharp 340 bps dip in the operating margins coupled with high base of EO income in corresponding previous year has pulled down the profitability.
On the Standalone front, the company has posted 53% dip in the Net profit at Rs 10.98 crore over 5% increase in the total income from operations at Rs 308.08 crore.
Other Information:
Apart from interim dividend of Rs 1 per share announced in February 12, the board of directors has declared dividend of Rs 2 per share for FY12.
Zodiac Clothing: Consolidated Financial Results
| 1203 (3) | 1103 (12) | Var % | 1203 (12) | 1103 (12) | Var % |
| Total Income from Operations | 90.20 | 86.25 | 5 | 377.55 | 357.32 | 6 |
| OPM (%) | 8.2 | 5.0 | | 7.4 | 10.8 | |
| Operating Profit | 7.39 | 4.29 | 72 | 28.06 | 38.74 | -28 |
| Other income | 2.41 | 2.98 | -19 | 4.79 | 4.40 | 9 |
| PBIDT | 9.80 | 7.27 | 35 | 32.85 | 43.14 | -24 |
| Interest | 2.90 | 2.22 | 31 | 3.54 | 2.80 | 26 |
| PBDT | 6.90 | 5.05 | 37 | 29.31 | 40.34 | -27 |
| Depreciation | 2.67 | 2.46 | 9 | 8.17 | 7.16 | 14 |
| PBT before EO | 4.23 | 2.59 | 63 | 21.14 | 33.18 | -36 |
| EO | 0.00 | 0.00 | 0 | 0.89 | 8.60 | -90 |
| PBT | 4.23 | 2.59 | 63 | 22.03 | 41.78 | -47 |
| Current Tax | 0.62 | 0.32 | 94 | 4.28 | 8.60 | -50 |
| Net Profit | 3.61 | 2.27 | 59 | 17.75 | 33.18 | -47 |
| EPS (Rs)* | 7.5 | 4.7 | | 8.8 | 13.7 | |
* EPS is on current equity capital of Rs 19.27crore Face value of Rs 10
Var % exceeding 999 is truncated to 999
Figures in Rs crore
Source: Capitaline Corporate Databases |
Zodiac Clothing: Standalone Results
| 1203 (3) | 1103 (3) | Var % | 1203 (12) | 1103 (12) | Var % |
| Total Income from Operations | 74.99 | 73.05 | 3 | 308.08 | 294.60 | 5 |
| OPM (%) | 4.0 | 0.3 | | 4.6 | 8.1 | |
| Operating Profit | 2.97 | 0.24 | 999 | 14.03 | 23.78 | -41 |
| Other income | 3.61 | 2.16 | 67 | 8.25 | 5.65 | 46 |
| PBIDT | 6.58 | 2.40 | 174 | 22.28 | 29.43 | -24 |
| Interest | 0.76 | 0.38 | 100 | 2.86 | 2.06 | 39 |
| PBDT | 5.82 | 2.02 | 188 | 19.42 | 27.37 | -29 |
| Depreciation | 1.70 | 1.44 | 18 | 6.27 | 5.23 | 20 |
| PBT before EO | 4.12 | 0.58 | 610 | 13.15 | 22.14 | -41 |
| EO | 0.00 | 0.00 | 0 | 0.89 | 8.60 | 100 |
| PBT | 4.12 | 0.58 | 610 | 14.04 | 30.74 | -54 |
| Current Tax | 0.31 | 0.00 | 100 | 3.06 | 7.44 | -59 |
| Net Profit | 3.81 | 0.58 | 557 | 10.98 | 23.30 | -53 |
| EPS (Rs)* | 7.9 | 1.2 | | 5.3 | 8.7 | |
* EPS is on current equity capital of Rs 19.27crore Face value of Rs 10
Var % exceeding 999 is truncated to 999
Figures in Rs crore
Source: Capitaline Corporate Databases |