Ador Fontech
Net down 8% on higher tax
Nov 14, 2019 05:11 IST capital market
Ador Fontechthat manufacturers welding consumables of electrodes and wires, welding/cutting machines, life enhancement services, thermal spray products & services, has registered 2% growth in consolidated sales to Rs 50.11 crore. But with 50 bps expansion in OPM to 11.9% the operating profit stood higher by 6% to Rs 5.94 crore. The PBT was up by 5% to Rs 5.54 crore after accounting lower other income, higher interest and lower depreciation. But with taxation stand higher by 49% to Rs 1.73 crore, the PAT was down by 8% to Rs 3.81 crore.
- Sales for the period was up by 2% Rs 50.11 crore. The value of production (VOP) for the period was also up by 2% to Rs 51.27 crore. Sales was about 0.98 times of its VOP and in corresponding previous period the sales was 0.98 times of its VOP. Sales lower than VOP is reflective of inventory build-up which will get liquidated going forward.
- OPM expanded by 50 bps to 11.9% and that is largely due to lower material cost, which more than offset the rise in all other cost heads. The material cost was down by 300 bps to 19.5%. The cost of traded goods was up by 40 bps to 36.1%, the staff cost was up by 110 bps to 13.4% and manufacturing cost was up by 50 bps to 8.5%. The OE was up by 60 bps to 10.9%.
Half yearly performance
Consolidated sales was up by 3% to Rs 94.66 crore and that together with 30 bps expansion in OPM to 10.8%, the operating profit was up by 6% to Rs 10.18 crore. After accounting for higher OI, higher interest and lower depreciation, the PBT was up by 6% to Rs 9.46 crore. The PAT was eventually lower by 2% to Rs 6.33 crore after accounting for 26% increase in taxation to Rs 3.13 crore.
Ador Fontech : Consolidated Results
| 1909 (3) | 1809 (3) | Var. (%) | 1909 (6) | 1809 (6) | Var. (%) | 1903 (12) | 1803 (12) | Var. (%) | |
| Sales | 50.11 | 49.11 | 2 | 94.66 | 91.65 | 3 | 186.43 | 152.04 | 23 |
| OPM (%) | 11.9 | 11.4 | 10.8 | 10.5 | 9.0 | 6.9 | |||
| OP | 5.94 | 5.60 | 6 | 10.18 | 9.61 | 6 | 16.81 | 10.52 | 60 |
| Other inc. | 0.60 | 0.63 | -5 | 1.24 | 1.22 | 2 | 2.91 | 3.98 | -27 |
| PBIDT | 6.54 | 6.23 | 5 | 11.42 | 10.83 | 5 | 19.72 | 14.50 | 36 |
| Interest | 0.11 | 0.02 | 450 | 0.19 | 0.06 | 217 | 0.15 | 0.15 | 0 |
| PBDT | 6.43 | 6.21 | 4 | 11.23 | 10.77 | 4 | 19.57 | 14.35 | 36 |
| Dep. | 0.89 | 0.91 | -2 | 1.77 | 1.82 | -3 | 3.28 | 3.46 | -5 |
| PBT | 5.54 | 5.30 | 5 | 9.46 | 8.95 | 6 | 16.29 | 10.89 | 50 |
| EO Exp | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
| PBT after EO | 5.54 | 5.30 | 5 | 9.46 | 8.95 | 6 | 16.29 | 10.89 | 50 |
| Taxation | 1.73 | 1.16 | 49 | 3.13 | 2.48 | 26 | 5.30 | 3.94 | 35 |
| PAT | 3.81 | 4.14 | -8 | 6.33 | 6.47 | -2 | 10.99 | 6.95 | 58 |
| EPS (Rs)* | # | # | # | # | 3.1 | 2.0 | |||
| * EPS is on current equity of Rs 7.0 crore, Face value of Rs 2 # EPS is not annualised due to seasonality of business Figures in Rs crore Source: Capitaline Corporate Database | |||||||||
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