Mishra Dhatu Nigam

Sales down 39%, net down 50%

Jul 06, 2020 11:07 IST capital market

Mishra Dhatu Nigam has registered 39% fall in its sales to Rs 203.63 crore for the quarter ended March 2020 hit by lockdown related to COVID pandemic. Lower sales together with 830 bps crash in operating profit margin to 24.6% has dragged the operating profit down by 50.11 crore. Other income was up by 15% to Rs 14.19 crore and thus the fall in PBIDT moderated to stand at 48% to Rs 64.30 crore. The interest cost was down by 11% to Rs 1.97 crore and depreciation was up by 11% to Rs 6.63 crore. Thus the PBT was down by 52% to Rs 55.70 crore. The taxation as down by 56% to Rs 15.32 crore and PAT was down by 50% to Rs 40.39 crore.

Yearly performance

Consolidated sales for the period were flat (up 0%) to Rs 712.88 crore. With OPM expand by 190 bps to 27.7%, the operating profit was up by 8% to Rs 197.68 crore. Other income was down by 1% to Rs 36.44 crore and thus the growth at PBIDT restricted at 6% to Rs 234.12 crore. After accounting for lower interest and higher depreciation, the PBT was up by 6% to Rs 202.09 crore. The taxation was down by 30% to Rs 42.35 crore and the PAT was up by 22% to Rs 159.73 crore.

Order Book

The order book position as on Apr 1, 2020 stood at Rs 1687 crore.

Dividend

During the F.Y. 2019-20, the company paid an interim dividend of Rs 1.00 per equity share and further proposes to pay another Rs 1.56 per equity share as final dividend for 2019-20.

Mishra Dhatu Nigam : Standalone Results

 

2003 (3) 1903 (3) Var. (%) 2003 (12) 1903 (12) Var. (%)
Sales 203.63 336.43 -39 712.88 710.85 0
OPM (%) 24.6 32.9 27.7 25.8
OP 50.11 110.69 -55 197.68 183.71 8
Other inc. 14.19 12.36 15 36.44 36.89 -1
PBIDT 64.30 123.05 -48 234.12 220.61 6
Interest 1.97 2.23 -11 5.92 6.36 -7
PBDT 62.33 120.82 -48 228.20 214.24 7
Dep. 6.63 5.97 11 26.11 23.19 13
PBT 55.70 114.85 -52 202.09 191.05 6
EO Exp 0.00 0.00 0.00 0.00
PBT after EO 55.70 114.85 -52 202.09 191.05 6
Taxation 15.32 34.56 -56 42.35 60.49 -30
PAT 40.39 80.29 -50 159.73 130.56 22
EPS (Rs)* # # 8.5 7.0
* EPS is on current equity of Rs187.34 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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