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The Ramco Cements

PAT down 63.4% due to higher input cost

January 24, 2022 9:36 IST | capital market
On consolidated basis 

Quarter ended Dec 2021 compared with Quarter ended Dec 2020. 

Net sales (including other operating income) of The Ramco Cements has increased 15.52% to Rs 1552.5 crore.  

Operating profit margin has declined from 29.63% to 14.75%, leading to 42.50% decline in operating profit to Rs 228.92 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 11.68% to 12.82%.   Employee cost decreased from 7.90% to 7.28%.   Other expenses rose from 50.33% to 65.04%.   Selling and administration expenses rose from 19.90% to 21.68%.   Power and Oil fuel cost rose from 16.16% to 26.94%.   Freight charges rose from 2.97% to 3.14%.   

Other income rose 8.79% to Rs 6.19 crore.  PBIDT fell 41.78% to Rs 235.11 crore.  Provision for interest rose 58.10% to Rs 25.28 crore.  

PBDT fell 45.90% to Rs 209.83 crore.  Provision for depreciation rose 10.68% to Rs 99.56 crore.  

Profit before tax down 62.98% to Rs 110.27 crore.  Provision for tax was expense of Rs 29.81 crore, compared to Rs 96.43 crore.  Effective tax rate was 28.38% compared to 31.81%.

Minority interest decreased 1,800% to Rs -0.38 crore.  Net profit attributable to owners of the company decreased 63.42% to Rs 75.62 crore.  

Promoters stake was 42.47% as of 31 December 2021 ,compared to 42.61% as of 31 December 2020 .  Promoters pledged stake was 13.76% as of 31 December 2021 ,compared to 12.40% as of 31 December 2020 .   

For year-to-date (YTD) results analysis.

Net sales (including other operating income) of The Ramco Cements has increased 17.31% to Rs 4290.29 crore.  

Operating profit margin has declined from 30.31% to 23.20%, leading to 10.21% decline in operating profit to Rs 995.17 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 11.76% to 11.97%.   Employee cost decreased from 8.85% to 7.81%.   Other expenses rose from 48.71% to 57.06%.   Selling and administration expenses rose from 18.86% to 20.11%.   Power and Oil fuel cost rose from 15.14% to 21.46%.   

Other income fell 17.06% to Rs 18.72 crore.  PBIDT fell 10.35% to Rs 1013.89 crore.  Provision for interest rose 9.03% to Rs 78.98 crore.  

PBDT fell 11.67% to Rs 934.91 crore.  Provision for depreciation rose 13.03% to Rs 294.38 crore.  

Profit before tax down 19.74% to Rs 640.53 crore.  Provision for tax was credit of Rs 129.07 crore, compared to debit of Rs 246.71 crore.  Effective tax rate was negative 20.34% compared to 30.27%.

Minority interest decreased 17.20% to Rs 0.77 crore.  Net profit attributable to owners of the company increased 34.44% to Rs 762.91 crore.  

Promoters stake was 42.47% as of 31 December 2021 ,compared to 42.61% as of 31 December 2020 .  Promoters pledged stake was 13.76% as of 31 December 2021 ,compared to 12.40% as of 31 December 2020 .  

Expansion: The clinkering unit of 2.25 MTPA in Kurnool is expected to be commissioned in Feb 2022. The 1 MTPA cement grinding facility, 12 MW WHS and 18 MW of TPP in Kurnool are expected to be commissioned during FY2022-23.

The modernization of RR Nagar plant at a cost of Rs 476 cr by installing a new energy efficient klin of 3000 TPD is expected to be commissioned in FY2023-24. The company also proposes to expand the capacity of its dry mix products in Tamil Nadu, Andhra Pradesh and Orissa with the total estimated cost of Rs 160 cr to produce high value products Viz water proofing, repair products, flooring screeds including liquid products besides other dry mix products.

CAPEX: During the period Apr 01,2021 tp Dec 31,2021, the company has incurred Rs 1387 cr towards CAPEX.

Ramco Cements: Consolidated Results

 

2112 (3) 2012(3) Var (%) 2112(9) 2012(9) Var (%) 2103 (12) 2003 (12) Var (%)
Sales 1552.50 1343.89 15.52% 4290.29 3657.27 17.31% 5291.00 5389.3 -1.82%
OPM (%) 14.75% 29.63% 1488 bps 23.20% 30.31% 711 bps 29.43% 21.29% 814 bps
OP 228.92 398.15 -42.50% 995.17 1108.34 -10.21% 1557.31 1147.42 35.72%
Other inc. 6.19 5.69 8.79% 18.72 22.57 -17.06% 30.37 33.50 -9.34%
PBIDT 235.11 403.84 -41.78% 1013.89 1130.91 -10.35% 1587.68 1180.92 34.44%
Interest 25.28 15.99 58.10% 78.98 72.44 9.03% 87.62 72.14 21.46%
PBDT 209.83 387.85 -45.90% 934.91 1058.47 -11.67% 1500.06 1108.78 35.29%
Dep. 99.56 89.95 10.68% 294.38 260.45 13.03% 356.56 316.54 12.64%
PBT 110.27 297.90 -62.98% 640.53 798.02 -19.74% 1143.50 792.24 44.34%
Share of profit/loss from JV -5.22 5.22 -200.00% -5.92 17.1 -134.62% 20.75 0.68 2951.47%
PBT Before EO 105.05 303.12 -65.34% 634.61 815.12 -22.15% 1164.25 792.92 46.83%
Exceptional items - - - - - - - - -
PBT After EO 105.05 303.12 -65.34% 634.61 815.12 -22.15% 1164.25 792.92 46.83%
Total Tax 29.81 96.43 -69.09% -129.07 246.71 -152.32% 379.92 187.85 102.25%
PAT 75.24 206.69 -63.60% 763.68 568.41 34.35% 784.33 605.07 29.63%
Minority Interest -0.38 -0.020 -1800.00% 0.77 0.93 -17.20% 0.69 0.93 -25.81%
Net Profit 75.62 206.71 -63.42% 762.91 567.48 34.44% 783.64 604.14 29.71%
EPS (Rs)* # # # # 34.00 26.00
* EPS is on current equity of Rs 23.60 crore, Face value of Rs. 1 Each
# EPS is not annualised due to seasonality of business
BPS- Basis points
Figures in Rs crore
Source: Capitaline Corporate Database

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