Poddar Pigments

PBT up 58%

Jun 26, 2021 11:06 IST capital market

Poddar Pigments standalone net sales increased 5.23% to Rs 80.92 crore in Q4FY21 compared to Q4FY20. Operating profit margin has jumped from 9.01% to 15.89%, leading to 85.57% rise in operating profit to Rs 12.86 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 72.13% to 68.16%. Employee cost decreased from 9.24% to 8.06%. Other expenses fell from 9.74% to 8.22%.  

Other income fell 94.67% to Rs 0.09 crore. Provision for interest remained nil. Provision for depreciation was down 29.73% to Rs 0.52 crore. Profit before tax grew 58.33% to Rs 12.35 crore. Provision for tax was expense of Rs 2.05 crore compared to Rs 1.85 crore. Effective tax rate was 16.60% compared to 23.72%. 

Profit after tax rose 73.11% to Rs 10.30 crore.

Full year results analysis 

Net sales (including other operating income) of Poddar Pigments has declined 26.91% to Rs 260.70 crore. Operating profit margin has jumped from 7.75% to 11.39%, leading to 7.41% rise in operating profit to Rs 29.70 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 75.16% to 69.18%. Employee cost increased from 7.59% to 9.84%. Other expenses rose from 9.39% to 9.55%.  

Other income fell 17.27% to Rs 3.64 crore. Provision for interest fell 6.67% to Rs 0.28 crore. Loan funds remained nil. Inventories declined from Rs 50.78 crore as of 31 March 2020 to Rs 43.22 crore as of 31 March 2021. Sundry debtors were higher at Rs 40.78 crore as of 31 March 2021 compared to Rs 40.62 crore as of 31 March 2020. Cash and bank balance declined from Rs 11.64 crore as of 31 March 2020 to Rs 8.98 crore as of 31 March 2021. Investments rose to Rs 91.07 crore as of 31 March 2021 from Rs 50.26 crore as of 31 March 2020. 

Provision for depreciation down 27.99% to Rs 2.11 crore. Fixed assets increased to Rs 70.46 crore as of 31 March 2021 from Rs 43.80 crore as of 31 March 2020. Intangible assets declined from Rs 0.33 crore to Rs 0.26 crore.  

Profit before tax grew 7.39% to Rs 30.95 crore. Provision for tax was expense of Rs 7.29 crore, compared to Rs 7.57 crore. Effective tax rate was 23.55% compared to 26.27%. 

Profit after tax rose 11.34% to Rs 23.66 crore.  

Promoters stake was 62.43% as of 31 March 2021 compared to 62.43% as of 31 March 2020 .  

Cash flow from operating activities decreased to Rs 24.25 crore for year ended March 2021 from Rs 30.59 crore for year ended March 2020. Cash flow used in acquiring fixed assets during the year ended March 2021 stood at Rs 18.26 crore, compared to Rs 18.52 crore during the year ended March 2020.  

The scrip trades at Rs 240

Poddar Pigments : Standalone Results

 

Particulars 2103 (03) 2003 (03) Var.(%) 2103 (12) 2003 (12) Var.(%)
Net Sales 80.92 76.9 5 260.7 356.67 -27
OPM (%) 15.9 9.0 11.4 7.8
OP 12.86 6.93 86 29.7 27.65 7
Other Inc. 0.09 1.69 -95 3.64 4.4 -17
PBIDT 12.95 8.62 50 33.34 32.05 4
Interest 0.08 0.08 0 0.28 0.3 -7
PBDT 12.87 8.54 51 33.06 31.75 4
Depreciation 0.52 0.74 -30 2.11 2.93 -28
PBT 12.35 7.8 58 30.95 28.82 7
Taxation 2.05 1.85 11 7.29 7.57 -4
PAT 10.3 5.95 73 23.66 21.25 11
EPS (Rs)* # # 22.3 20.0
Notes
* EPS is on current equity of Rs 10.61 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

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