Frontier Springs

Sales down 14%, net down 8%

Nov 09, 2020 10:11 IST capital market

Frontier Springs hasreported 14% fall in sales for the quarter ended Sep 2020 to Rs 21.78 crore. But with operating profit margin expand by 70 bps to 17%, the fall at operating profit was restricted at 10% to Rs 3.71 crore. With other income stand higher by 45% to Rs 0.21 crore, the PBIDT was down by 8% to Rs 3.92 crore. With interest and depreciation stand lower, the fall at PBT was restricted at Rs 3.23 crore. With taxation stand lower by 4% to Rs 0.94 crore, the PAT was down by 8% to Rs 2.28 crore.
  • Sales was lowerby 14% to Rs21.78 crorewith lingering impact of COVID pandemic as railways start operation at full swing and its production units are still ramping up operations. But the value of production (VoP) was down by 11% to Rs 22.20 crore. Sales was 0.98 times of its VoP for the quarter and it was 1.02 times of VoP in corresponding previous period. Sales lowerthan VoP reflects inventory build-up, which will be liquidated in coming quarter.
  • OPM expanded by marginal 70 bps to 17.0% largely due to fall in material cost. The material cost as % of sales was down by 150 bps to 39.4%. The staff was up by 100 bps to 3.8% and the OE was up by 40 bps to 40.2%. Thus hit by lower sales the OP was down by 10% to Rs 3.71 crore.

Half Yearly performance

Sales was down by 22% to Rs 38.58 crore and with OPM expand by 50 bps to 17.3%, the operating profit was down by 20% to Rs 6.66 crore. The other income was up by 2% to Rs 0.40 crore and thus the PBIDT was down by 19% to Rs 7.06 crore. The interest cost was down by 34% to Rs 0.26 crore and the depreciation was up by 1% to Rs 1.22 crore. Thus the PBT was down by 21% to Rs 5.58 crore. The taxation was down by 8% to Rs 1.74 crore and the PAT was down by 26% to Rs 3.85 crore.

Frontier Springs: Results

 

2009 (3) 1909 (3) Var. (%) 2009 (6) 1909 (6) Var. (%) 2003 (12) 1903 (12) Var.(%)
Sales 21.78 25.22 -14 38.58 49.51 -22 99.87 83.13 20
OPM (%) 17.0 16.3 17.3 16.8 19.7 15.2
OP 3.71 4.12 -10 6.66 8.31 -20 19.70 12.65 56
Other inc. 0.21 0.15 45 0.40 0.39 2 0.90 0.70 28
PBIDT 3.92 4.26 -8 7.06 8.70 -19 20.61 13.35 54
Interest 0.09 0.20 -54 0.26 0.39 -34 0.65 0.83 -22
PBDT 3.83 4.06 -6 6.80 8.31 -18 19.96 12.52 59
Dep. 0.60 0.61 -1 1.22 1.21 1 2.39 2.22 8
PBT 3.23 3.45 -7 5.58 7.10 -21 17.56 10.30 70
Taxation 0.94 0.98 -4 1.74 1.89 -8 3.52 1.90 85
PAT 2.28 2.47 -8 3.85 5.20 -26 14.04 8.40 67
EPS (Rs)* # # # # 35.4 21.2
* EPS is on current equity of Rs 3.9632 crore, Face value of Rs 10
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database

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