D B Corp

Net jump 157% on good OP show as well as lower interest & dep

Jun 25, 2021 08:06 IST capital market

Consolidated net sales (including other operating income) of D B Corp for the quarter ended March 2021 has declined 6% to Rs 456.6 crore.  Operating profit margin has jumped from 13.6% to 22.1%, leading to 53% rise in operating profit to Rs 101.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 34.70% to 26.54%.   Employee cost increased from 21.46% to 23.21%.   Other expenses fell from 30.28% to 28.12%.   Other income rose 14% to Rs 3.54 crore.  Provision for interest fell 32% to Rs 4.79 crore.  Provision for depreciation fell 7% to Rs 28.16 crore.   Profit before tax grew 125% to Rs 71.71 crore. Share of profit/loss were nil in both the periods.  EO income for the period was Rs 13.19 crore compared to nil in corresponding previous period. The Company has reassessed its performance royalty liability recorded in earlier years post the intellectual property appellate board (IPAB) order and has accordingly written back Rs 13.194 crore. Thus the PBT after EO was up 166% to Rs 84.91 crore.  Provision for tax was expense of Rs 22.99 crore, a jump of 192%. PAT was up 157% to Rs 61.91 croreMinority interest was nil in both the periods.  Net profit attributable to owners of the company increased 157% to Rs 61.91 crore. 

Yearly performance


Net sales (including other operating income) has declined 32% to Rs 1507.7 crore.  Operating profit margin has slumped from 21.7% to 20.2%, leading to 37% decline in operating profit to Rs 304.77 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 34.46% to 27.95%.   Employee cost increased from 18.80% to 25.17%.   Other expenses rose from 25.08% to 26.66%.   Other income rose 16% to Rs 14.49 crore.  Provision for interest fell 3% to Rs 24.31 crore.  Provision for depreciation fell 5% to Rs 114.89 crore.   Profit before tax shrink 48% to Rs 180.06 crore.  Share of profit/loss were nil in both the periods. EO income was Rs 13.19 crore against nil in previous year. The Company has reassessed its performance royalty liability recorded in earlier years post the intellectual property appellate board (IPAB) order and has accordingly written back Rs 13.194 crore. Thus PBT was down 44% to Rs 193.25 crore.  Provision for tax was expense of Rs 51.83 crore, compared to Rs 73.19 crore.  PAT was down 49% to R 141.42 crore. Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 49% to Rs 141.42 crore.  

Other developments

The Board of Directors have recommended a final dividend of Rs. 3 per equity share of Rs 10 each for the year ended March 3 1, 2021.

Equity capital stood at Rs 174.96 crore as of 31 March 2021 to Rs 174.96 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters stake was 71.81% as of 31 March 2021,compared to 71.66% as of 31 March 2020.  Promoters pledged stake was 24.28% as of 31 March 2021,compared to 40.40% as of 31 March 2020.  

D.B. Corp:Consolidated Results

 

2103 (3) 2003 (3) Var. (%) 2103 (12) 2003 (12) Var. (%)
Sales 456.60 486.65 -6 1507.70 2223.83 -32
OPM (%) 22.1 13.6 20.2 21.7
OP 101.12 65.95 53 304.77 481.51 -37
Other inc. 3.54 3.10 14 14.49 12.48 16
PBIDT 104.66 69.05 52 319.26 493.99 -35
Interest 4.79 7.00 -32 24.31 25.11 -3
PBDT 99.87 62.05 61 294.95 468.88 -37
Dep. 28.16 30.12 -7 114.89 120.72 -5
PBT 71.71 31.93 125 180.05 348.16 -48
EO Income 13.19 0.00 13.19 0.00
PBT after EO 84.91 31.93 166 193.25 348.16 -44
Tax 22.99 7.87 192 51.83 73.19 -29
PAT 61.91 24.05 157 141.42 274.98 -49
Minority Interest 0.00 0.00 0.00 0.00
Net Profit 61.91 24.05 157 141.42 274.98 -49
EPS * # # 7.5 15.7
* Not annualised due to seasonality of business.
*On current equity of Rs 174.961 crore. Face Value: Rs 10
Var. (%) exceeding 999 has been truncated to 999
EO: Extraordinary items; LP: Loss to Profit, PL: Profit to Loss

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