Moreover, OPM expanded by 190 basis points to 11.1% on the back of fall in costs across the business, led to robust 51% growth in operating profit to Rs 2.91 crore. Even after the increase in interest cost and depreciation there was 64% growth in PBT to Rs 2.01 crore. Further, the decline the effective tax rate during the quarter facilitated the 67% growth in net profit to Rs 1.61 crore.
Net sales higher by 26% to Rs 26.16 crore for the quarter ended September 2011, on the back of robust 40% growth in Equipment business to Rs 23.75 crore. However, revenues from Electronics business (13% of total sales) fell by 25% to Rs 3.55 crore. Moreover, OPM expanded by 190 basis points to 11.1% on the back of 150 basis points fall in other expenses coupled with 60 basis points decline in consumption cost as well 40 basis points decline in staff cost as percentage to sales and net of stock adjustments. As a result operating profit witnessed robust 51% growth to Rs 2.91 crore. Further, Other income rise by 52% to Rs 0.04 crore.
At PBIT level, margins from the Equipment business expanded by 340 basis points to 12.2% resulting sharp 94% growth in Equipment business to Rs 2.91 crore. However, the margins from the Electronics business fell by 460 basis points to 10% resulting 48% decline in Electronics business to Rs 0.35 crore.
With 125% rise in interest cost to Rs 0.33 crore and marginal 4% incline in depreciation to Rs 0.61 crore, there was 64% growth in PBT to Rs 2.01 crore. Further, the fall in effective tax rate by 140 basis points to 20.1% net profit grew by 67% to Rs 1.61 crore.
Net sales higher by 29% to Rs 44.76 crore for the half-year ended September 2011. In addition, OPM expanded by 180 basis points to 10.9% resulting 53% growth in operating profit to Rs 4.89 crore. Also, other income grew by 28% to Rs 0.07 crore. Further, with 107% rise in interest cost to Rs 0.58 crore and 4% incline in depreciation to Rs 1.20 crore there was robust 76% growth in PBT to Rs 3.17 crore. The fall in effective tax rate by 90 basis points to 20.2% led to 77% growth in net profit to Rs 2.53 crore.
- The scrip was down by 3.77% to Rs 43.35 at BSE, India on 15th November 2011
Financial Results: Hind Rectifiers
|1109(03)||1009(03)||Var (%)||1109(06)||1009(06)||Var (%)||1103(12)|
|Total Income from operations||26.16||20.83||26||44.76||34.80||29||101.639|
|*Paid up Equity capital of Rs 3.01 crore, Face Value Rs 2|
PL: Profit to Loss, LP: Loss to Profit
#EPS is not calculated due to the seasonality of the business
Figures in Rs crore
Source: Capitaline Corporate Database
Hind Rectifiers - Segment Results
|1109(03)||1009(03)||Var (%)||% Of Total||1109(06)||1009(06)||Var(%)||% Of Total||1103(12)|
|Less: Inter Segment Revenue||1.14||0.88||1.94||1.96||7.10|
|Net Sales/Income from operations||26.16||20.83||26||44.76||34.80||29||101.64|
|Segment Results (PBIT)|
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