Texmo Pipes and Products

Solid growth

Oct 29, 2020 03:10 IST capital market

For the quarter, sales rose 62% to Rs 81.3 crore. OPM decreased 270 bps to 7%. Thus OP rose 17% to Rs 5.69 crore. Other income fell 61% to Rs 14 lakh. As interest cost fell 27% to Rs 2.34 crore and depreciation 3% to Rs 1.45 crore, PBT increased 281% to Rs 2.04 crore.

Tax provision was up 313% to Rs 56 lakh (effective tax rate was up 210 bps to 27.6%) after which PAT rose 270% to Rs 1.48 crore.

H1FY21 results

For 6 months ended Sep20, net sales were down by 9% to Rs 162.94 crore. OPM was up by 60 bps to 6.9% resulting in a 1% decrease in OP to Rs 11.18 crore. Other income was down by 33% to Rs 0.41 crore. Interest cost was down by 26% to Rs 4.78 crore while depreciation was down 1% to Rs 2.98 crore. This resulted in a 59% growth in PBT to Rs 3.83 crore. Tax provision was up 42% to Rs 1.03 crore (effective tax rate was down 310 bps to 26.8%) after which PAT grew by 66% to Rs 2.81 crore.

The scrip trades at Rs 16.36.

Texmo Pipes and Products: Consolidated Results

 

2009 (03) 1909 (03) Var.(%) 2009 (06) 1909 (06) Var.(%) 2003 (12) 1903 (12) Var.(%)
Total Operating Income 81.30 50.17 62 162.94 179.10 -9 327.95 309.74 6
OPM(%) 7.0% 9.7% 6.9% 6.3% 6.8% 5.5%
OP 5.69 4.88 17 11.18 11.27 -1 22.41 17.02 32
Other Income 0.14 0.35 -61 0.41 0.62 -33 1.02 1.31 -22
PBIDT 5.83 5.23 11 11.59 11.89 -2 23.43 18.33 28
Interest 2.34 3.20 -27 4.78 6.46 -26 10.52 9.70 8
PBDT 3.49 2.04 71 6.82 5.43 25 12.91 8.63 50
Depreciation 1.45 1.50 -3 2.98 3.01 -1 6.20 5.60 11
PBT Before EO 2.04 0.53 281 3.83 2.42 59 6.71 3.02 122
EO 0.00 0.00 0.00 0.00 0.94 -0.61
PBT after EO 2.04 0.53 281 3.83 2.42 59 5.78 3.63 59
Tax provision 0.56 0.14 313 1.03 0.72 42 1.79 0.81 122
PAT 1.48 0.40 270 2.81 1.69 66 3.98 2.82 41
Net Profit after PPA 1.48 0.40 270 2.81 1.69 66 3.94 2.97 33
EPS (Rs)* # # # # 1.6 0.8
* Annualized on fully diluted Equity Of Rs 29.2 Crore of face value of Rs 10 each
EO: Extraordinary Items, PL: Profit to Loss
EPS Is Calculated After Excluding EO And Relevant Tax
# EPS not annualised due to seasonality of business
Figures In Rs Crore
Source: Capitaline Database

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