Frontier Springs

Sales down 3%, net down 41%

Jun 08, 2021 12:06 IST capital market

Standalone net sales (including other operating income) for the quarter ended Mar 2021 has declined 3% to Rs 21.05 crore.  Operating profit margin has slumped from 23% to 17.6%, leading to 26% decline in operating profit to Rs 3.71 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 39.86% to 8.01%.   Employee cost increased from 3.35% to 4.48%.   Other expenses rose from 35.31% to 39.82%.   Other income fell 36% to Rs 0.29 crore.  Provision for interest up 26% to Rs 0.15 crore.  Provision for depreciation rose 33% to Rs 0.81 crore.  Profit before tax down 36% to Rs 3.04 crore.  Provision for tax was expense of Rs 0.37 crore, compared to Rs 0.15 crore.  Effective tax rate was 12.17% compared to 3.18%.Profit after tax fell 41% to Rs 2.67 crore.  

Yearly performance

Net sales (including other operating income) has declined 23% to Rs 76.96 crore.  Operating profit margin has slumped from 19.8% to 16.5%, leading to 36% decline in operating profit to Rs 12.73 crore.     Other income up 8% to Rs 0.97 crore.  Provision for interest fell 35% to Rs 0.49 crore.  Provision for depreciation rose 11% to Rs 2.67 crore.  Profit before tax down 40% to Rs 10.54 crore.  Provision for tax was expense of Rs 2.74 crore, compared to Rs 3.52 crore.  Effective tax rate was 26.00% compared to 20.07%.Profit after tax fell 44% to Rs 7.80 crore.   

Other developments

Equity capital stood at Rs 3.96 crore as of 31 March 2021 to Rs 3.96 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters stake was 51.76% as of 31 March 2021,compared to 51.76% as of 31 March 2020.  

Frontier Springs: Results

 

2103 (3) 2003 (3) Var. (%) 2103 (12) 2003 (12) Var.(%)
Sales 21.05 21.75 -3 76.96 99.87 -23
OPM (%) 17.6 23.0 16.5 19.8
OP 3.71 5.00 -26 12.73 19.79 -36
Other inc. 0.29 0.45 -36 0.97 0.90 8
PBIDT 4.00 5.44 -27 13.70 20.70 -34
Interest 0.15 0.12 26 0.49 0.76 -35
PBDT 3.85 5.33 -28 13.21 19.94 -34
Dep. 0.81 0.61 33 2.67 2.39 11
PBT 3.04 4.72 -36 10.54 17.54 -40
Taxation 0.37 0.15 141 2.74 3.52 -22
PAT 2.67 4.56 -41 7.80 14.02 -44
EPS (Rs)* # # 19.7 35.4
* 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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