Texmo Pipes and Products

Robust growth

Feb 05, 2021 04:02 IST capital market

Texmo Pipes and Products reported 149% increase in its bottom-line to Rs 3.19 crore in Q3FY21 on 65% increase in topline to Rs 128.28 crore compared to corresponding previous year period. OPM was down 130 bps to 6% leading to a 37% rise in operating profits to Rs 7.71 crore. 

Other Income increased 6% to Rs 39 lakh in Q3FY21 from Rs 36 lakh in Q3FY20 while interest cost rose 21% to Rs 2.39 crore and depreciation rose 7% to Rs 1.69 crore. As a result PBT before EO was up 64% to Rs 4.02 crore. The company reported nil EO compared to EO expense of Rs 89 lakh in Q3FY20 on account of losses in settlement of insurance claim. PBT after EO rose 158% to Rs 4.02 crore. Effective rate of tax rose 28.9% compared to 9.7% leading a 116% increase in PAT to Rs 2.86 crore.  

For nine months ended Dec20, net sales rose 14% to Rs 291.21 crore. The company operating margins decreased 10 bps to 6.5%. As a result operating profits rose 12% to Rs 18.98 crore. Other income fell 18% to Rs 80 lakh. Interest cost was down 15% to Rs 7.17 crore. Depreciation rose 2% to Rs 4.67 crore.  

PBT before EO was up 63% to Rs 7.94 crore. The company reported nil EO compared to EO expense of Rs 89 lakh in 9MFY20 on account of losses in settlement of insurance claim. PBT after EO rose 100% to Rs 7.94 crore. Effective rate of tax rose 27.6% compared to 19.7% leading a 105% increase in PAT to Rs 6.09 crore 

The scrip is currently trading around Rs 27.85 on the BSE

Texmo Pipes and Products: Results

 

2012 (03) 1912 (03) Var.(%) 2012 (09) 1912 (09) Var.(%) 2003 (12) 1903 (12) Var.(%)
Total Operating Income 128.28 77.71 65 291.21 256.55 14 327.95 309.74 6
OPM(%) 6.0% 7.3% 6.5% 6.6% 6.8% 5.5%
OP 7.71 5.64 37 18.98 16.91 12 22.41 17.02 32
Other Income 0.39 0.36 6 0.80 0.98 -18 1.02 1.31 -22
PBIDT 8.10 6.01 35 19.78 17.89 11 23.43 18.33 28
Interest 2.39 1.98 21 7.17 8.44 -15 10.52 9.70 8
PBDT 5.71 4.03 42 12.61 9.46 33 12.91 8.63 50
Depreciation 1.69 1.58 7 4.67 4.60 2 6.20 5.60 11
PBT Before EO 4.02 2.44 64 7.94 4.86 63 6.71 3.02 122
EO 0.00 0.89 0.00 0.89 0.94 -0.61
PBT after EO 4.02 1.56 158 7.94 3.97 100 5.78 3.63 59
Tax provision 1.16 0.24 392 2.19 0.96 128 1.79 0.81 122
PAT 2.86 1.32 116 5.75 3.02 91 3.98 2.82 41
PPA -0.34 0.04 -0.34 0.04 0.04 -0.15
Net Profit after PPA 3.19 1.28 149 6.09 2.98 105 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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