Savita Oil Technologies

Volatile oil prices affecting the show

Nov 06, 2018 11:11 IST capital market

For the quarter ended Sep 18, net sales of Savita Oil Technologies were up by 29% to Rs 473.05 crore. OPM stood at 6% as compared to an OPM of 9.5%, thus at OP level, the company reported profit of Rs 34.48 crore down by 18% YoY. Other income was higher by 406% to Rs 7.24 crore. Interest was higher by 308% to Rs 10.76 crore while depreciation costs were lower by 11% to Rs 5.78 crore. Thus, PBT stood at Rs 25.18 crore down by 27% YoY. After paying total tax of Rs 6.96 crore, PAT for Sep 18 quarter stood at Rs 18.22 crore down by 33% YoY.

Net sales of Petroleum products, which accounts for 96% of total revenue, stood at Rs 558.48 crore up by 31% YoY for Sep 18 quarter. PBIT stood at Rs 24.38 crore, down by 16% YoY with PBIT margin at 4.4%. Net sales of Wind Power segment which account for 4% of total sales, stood at Rs 20.68 crore. Profit at PBIT level stood at Rs 14.97 crore up by 16% YoY with PBIT margin at 72.4%.

Performance for the 6 months ended Sep 18

For the 6 months ended Sep 18, net sales of Savita Oil Technologies were up 29% on YoY basis at Rs 1113.68 crore. OPM stood at 6.6% down by 260 bps on YoY basis thus at OP level, the company reported profit of Rs 73.04 crore down by 8% YoY. Other income was higher by 23% to Rs 8.89 crore. Interest was stood at Rs 19 crore largely due to higher working capital requirements while depreciation costs were lower by 11% to Rs 11.42 crore. Thus, PBT stood at Rs 51.51 crore down by 24% YoY. There was a 12% decrease in total tax to Rs 15.08 crore, resulting in a 28% decrease in PAT to Rs 36.43 crore.

Net sales of Petroleum products, which accounts for 97% of total revenue, stood at Rs 1090.47 crore PBIT stood at Rs 57.91 crore, down by 5% YoY and accounted for 75% of total PBIT.

Net sales of Wind Power segment stood at Rs 30.48 crore and accounted for 3% of total sales. PBIT stood at Rs 19.23 crore, down by 7% YoY and accounted for 25% of total PBIT.

Savita Oil Technologies: Results

 

1809(03) 1709(03) Var. (%) 1809(06) 1709(06) Var. (%) 1803 (12) 1703 (12) Var. (%)
Net Sales 573.05 442.79 29% 1113.68 864.34 29% 1782.70 1497.17 19%
OPM(%) 6.0% 9.5% 6.6% 9.2% 10.4% 10.4%
OP 34.48 42.20 -18% 73.04 79.11 -8% 186.16 155.10 20%
Other Income 7.24 1.43 406% 8.89 7.22 23% 9.55 13.05 -27%
PBIDT 41.72 43.63 -4% 81.93 86.33 -5% 195.71 168.15 16%
Interest 10.76 2.64 308% 19.00 5.66 236% 13.75 13.71 0%
PBDT 30.96 40.99 -24% 62.93 80.67 -22% 181.96 154.44 18%
Depreciation 5.78 6.47 -11% 11.42 12.79 -11% 25.88 28.28 -8%
PBT 25.18 34.52 -27% 51.51 67.88 -24% 156.08 126.16 24%
EO 0.00 0.00 0% 0.00 0.00 0% 0.00 0.00 0%
PBT after EO 25.18 34.52 -27% 51.51 67.88 -24% 156.08 126.16 24%
Total Tax 6.96 7.15 -3% 15.08 17.12 -12% 44.87 32.54 38%
PAT 18.22 27.37 -33% 36.43 50.76 -28% 111.21 93.62 19%
PPI 0.00 0.00 0% 0.00 0.00 0% 14.98 0.00 0%
PAT after PPI 18.22 27.37 -33% 36.43 50.76 -28% 126.19 93.62 35%
EPS* # # # # 77.7 65.4
* Annualized On Current Equity Of Rs 14.32 Crore of face value of Rs 10 each
#EPS not annualised due to seasonality of business, PPI: Prior Period Item
EO: Extraordinary Items, PL: Profit to Loss, LP: Loss to Profit
EPS Is Calculated After Excluding EO And Relevant Tax
Figures In Rs Crore
Source: Capitaline Database

Savita Oil Technologies: Segmental Result

 

1809(03) 1709(03) (%) of Total Var. (%) 1809(03) 1709(03) (%) of Total Var. (%) 1803(12) 1703(12) (%) of Total Var. (%)
Net Sales
Petroleum Products 558.48 426.32 96 31 1090.47 879.58 97 1790.25 1648.40 98
Wind Power 20.68 17.61 4 17 30.48 30.60 3 41.67 46.73 2
Others 1.13 0.29 0 290 1.58 0.38 0 2.26 1.19 0
Total 580.29 444.22 100 31 1122.53 910.56 100 1834.18 1696.32 100
PBIT
Petroleum Products 24.38 29.01 62 -16 57.91 61.17 75 -5 164.15 132.28 89 24
Wind Power 14.97 12.85 38 16 19.23 20.58 25 -7 19.95 24.39 11 -18
Others 0.00 0.00 0 0 0.00 0.00 0 0 0.00 0.00 0 0
Total Segment Results 39.35 41.86 100 -6 77.14 81.75 100 -6 184.10 156.67 100 18
Less :-
Finance costs 10.76 2.64 308 19.00 5.66 236 13.75 13.71 0
Others 3.41 4.70 -27 6.63 8.21 -19 14.27 16.81 -15
PBT 25.18 34.52 -27 51.51 67.88 -24 156.08 126.15 24
Figures in Rs crore, LP: Loss to Profit, PL: Profit to Loss
Source: Capitaline Database

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