Honeywell Automation India

Sales down 4%, net down 6%

Jun 01, 2021 07:06 IST capital market

Standalone net sales (including other operating income) of Honeywell Automation India for the quarter ended March 2021 has declined 4% to Rs 672.70 crore. But with 90 bps expansion in Operating profit margin from 18.3% to 19.2%, the operating profit was flat at Rs 129.16 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 39.58% to 41.82%.   Purchase of finished goods cost rose from 7.14% to 9.11%.   Employee cost decreased from 19.56% to 18.20%.   Other expenses fell from 15.68% to 12.25%.   Other income fell 30% to Rs 23.73 crore.  Provision for interest up 9% to Rs 1.65 crore.    Provision for depreciation rose 8.17% to Rs 12.98 crore.  Profit before tax down 7% to Rs 138.26 crore.  Provision for tax was expense of Rs 34.24 crore, compared to Rs 37.8 crore.  Effective tax rate was 24.76% compared to 25.38%.Profit after tax fell 6% to Rs 104.02 crore.  

Yearly performance 

Net sales (including other operating income) has declined 8% to Rs 3,042.78 crore.  Operating profit margin has slumped from 19.4% to 19.4%, leading to 8% decline in operating profit to Rs 588.92 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 41.22% to 41.47%.   Purchase of finished goods cost rose from 8.83% to 9.17%.   Employee cost increased from 16.82% to 17.12%.   Other expenses fell from 13.80% to 13.01%.   Other income fell 14% to Rs 83.97 crore.  Provision for interest fell 10% to Rs 6.21 crore.  Provision for depreciation rose 18% to Rs 48.66 crore.  Profit before tax down 10% to Rs 618.02 crore.  Provision for tax was expense of Rs 157.98 crore, compared to Rs 195.07 crore.  Effective tax rate was 25.56% compared to 28.41%.Profit after tax fell 6% to Rs 460.04 crore.  

Other developments

To pay a dividend of Rs 85 per equity share for the financial year ended March 31, 2021.

Equity capital stood at Rs 8.84 crore as of 31 March 2021 to Rs 8.84 crore as of 31 March 2020.  Per share face Value remained same at Rs 10.00.  

Promoters stake was 75.00% as of 31 March 2021,compared to 75.00% as of 31 March 2020.  

Honeywell Automation India: Standalone Results

 

2103 (3) 2003 (3) Var. (%) 2103 (12) 2003 (12) Var. (%)
Sales 672.70 704.26 -4 3042.78 3290.01 -8
OPM (%) 19.2 18.3 19.4 19.4
OP 129.16 128.74 0 588.92 637.12 -8
Other inc. 23.73 33.72 -30 83.97 97.65 -14
PBIDT 152.89 162.46 -6 672.89 734.77 -8
Interest (net) 1.65 1.52 9 6.21 6.87 -10
PBDT 151.24 160.94 -6 666.68 727.90 -8
Depreciation 12.98 12.00 8 48.66 41.35 18
PBT 138.26 148.94 -7 618.02 686.55 -10
EO 0.00 0.00 0.00 0.00
PBT after EO 138.26 148.94 -7 618.02 686.55 -10
Taxation 34.24 37.80 -9 157.98 195.07 -19
PAT 104.02 111.14 -6 460.04 491.48 -6
PPI/ EO (net of tax) 0.00 0.00 0.00 0.00
Net profit 104.02 111.14 -6 460.04 491.48 -6
EPS (Rs)* # # 520.4 556.0
* EPS is on current equity of Rs 8.84 crore, Face value of Rs 10
# EPS is not annualised due to seasonality of business;
Var (%) exceeding 999 is restricted to 999
Figures in Rs crore
Source: Capitaline Corporate Database

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