SKF India

Sales jump 130% on low base

Jul 24, 2021 08:07 IST capital market

Standalone net sales (including other operating income) of SKF India for the quarter has increased 130% to Rs 693.53 crore.?With operating profit margin stand at positive 16.4% (against negative 0.2% in corresponding previous period), the operating profit was RS 113.76 crore compared to a loss of Rs 0.63 crore in the corresponding previous period. ?Other income fell 58% to Rs 6.41 crore.??Provision for interest fell 30% to Rs 0.35 crore.??Provision for depreciation down 3% to Rs 14.02 crore.??Provision for tax was debit of Rs 26.68 crore, compared to credit of Rs 0.08 crore.??Effective tax rate was 25.22% compared to 24.24%. Thus the PAT was a profit of Rs 79.12 crore compared to a loss of Rs 0.25 crore in the corresponding previous period.

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  • Value of production for the quarter was up 193% to Rs 907.62 crore. Sales for the quarter was 0.76 times of its VoP and in comparison it was 0.97 times in corresponding previous period. IT reflects inventory built-up which will get liquidated going forward.?

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  • OPM turned black to 16.4% from -0.2% in corresponding previous period. Raw material cost as a % of total sales (net of stock adjustments) increased from 15.27% to 21.59%. ??Purchase of finished goods cost fell from 46.83% to 43.71%. ??Employee cost decreased from 18.32% to 7.49%. ??Other expenses fell from 19.79% to 14.68%.

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  • Yearly performance


    Net sales (including other operating income) ??has declined 6% to Rs 2670.73 crore.??Operating profit margin has jumped from 12.3% to 15.7%, leading to 20% rise in operating profit to Rs 420.14 crore.?? Other income fell 48% to Rs 36.23 crore.??Provision for interest fell 78% to Rs 2.13 crore.?? ??Provision for depreciation rose 1% to Rs 57.95 crore.?? ??Profit before tax grew 13% to Rs 396.29 crore.??EO was nil compared to an income of Rs 34.90 crore in the corresponding previous period. Thus PBT after EO was up 2% to Rs 396.29 crore. Provision for tax was expense of Rs 98.56 crore, compared to Rs 97.78 crore.?? Profit after tax rose 3% to Rs 297.73 crore.??

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    Other developments

    Promoters stake was 52.58% as of 30 June 2021, compared to 52.58% as of 30 June 2020.??



    SKF India:? Results?
    ? 2106 (3) 2006 (3) Var. (%) 2103 (12) 2003 (12) Var. (%)
    Sales 693.53 301.24 130 2670.73 2841.58 -6
    OPM (%) 16.4 -0.2 ? 15.7 12.3 ?
    OP 113.76 -0.63 LP 420.14 349.45 20
    Other inc. 6.41 15.27 -58 36.23 69.02 -48
    PBIDT 120.17 14.64 721 456.37 418.47 9
    Interest 0.35 0.50 -30 2.13 9.48 -78
    PBDT 119.82 14.14 747 454.24 408.99 11
    Dep. 14.02 14.47 -3 57.95 57.12 1
    PBT?? 105.8 -0.33 LP 396.29 351.87 13
    EO 0.00 0.00 ? 0.00 -34.90 ?
    PBT after EO 105.80 -0.33 LP 396.29 386.77 2
    Taxation 26.68 -0.08 PL 98.56 97.78 1
    PAT 79.12 -0.25 LP 297.73 288.99 3
    EPS (Rs)* # # ? 60.2 53.2 ?
    * EPS is on? current equity of Rs 49.44 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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