Consolidated sales was down by 13% to Rs 359.51 crore and that together with 470 bps erosion in OPM to 14.1%, the operating profit was down by 34% to Rs 50.72 crore. After accounting for lower OI, lower interest and depreciation, the PBT was a down by 52% to Rs 22.95 crore. The share of loss from JV/Associates was higher at Rs 0.91 crore (against a profit of Rs 0.32 crore) the PBT was down by 55% to Rs 22.04 crore. But with taxation stand lower by 74% to Rs 3.84 crore, the fall at PAT moderated to stand at 46% to Rs 18.20 crore.
The Company derived 98% of sales from the Passenger Vehicle segment of the Indian Automotive Industry. Maruti Suzuki including Suzuki Motors Gujarat continue to remain PPAPs top customer accounting for 56% of the Part Sales. The Companys second biggest customer, Honda has contributed 19% to the Companys topline of year.
Ajay Kumar Jain, CMD of PPAP, commenting on the performance said, Despite the Corona crisis, the Company was able to significantly contain the losses during this unprecedented period due to our flexible operations and high cost consciousness.
PPAP Automotive : Consolidated Financial Results
|2006 (3)||1906 (3)||Var. (%)||2003 (12)||1903 (12)||Var. (%)|
|Share of P/(L) from Assoc/JV||-1.09||0.04||PL||-0.91||0.32||-381|
|PBT before EO||-20.68||8.41||PL||22.04||48.55||-55|
|PBT after EO||-20.68||8.41||PL||22.04||48.55||-55|
|Provn for taxation||-4.92||2.60||LP||3.84||14.81||-74|
|* EPS is on current equity of Rs 14.00 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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