Free Cash Flow increased by 516% from Rs37cr to Rs228cr. EPS (Continuing Operations) increased from Rs48.96 to Rs58.38 per share. Book Value per share increased from Rs386 to Rs438. Other Income increased from Rs42cr to Rs58cr – which is mainly due to an increase in fair value of investment as required by Ind AS.
At around 11.21 AM, Technocraft Industries (India) Limited was trading at Rs497.65 per piece up Rs20.20 or 4.23% on the BSE. The company stock hit a record high of Rs500 per piece during intraday trade on Monday.
Consolidated Segmental Highlights (Yearly Basis)
Drum Closure Division: Revenue from Operations increased from Rs377cr to Rs409cr. Profit Before Tax and Finance Cost but after Depreciation also increased by 35% from Rs94cr to Rs127cr.
Scaffolding Division: Revenue from Operations decreased from Rs525cr to Rs448cr. Consequently Profit Before Tax and Finance Cost but after depreciation decreased to Rs36cr mainly due to increase in costs of steel, aluminium, zinc and ocean freight during the period and slow down in the construction activities because of impact of Covid.
Management is hopeful that impact of Covid-19 is likely to get reduced and we will be able to pass-on the increase in raw material cost, in medium and long term going forward. The management believes that this division has strong prospects due to anticipated growth in Infrastructure and affordable housing construction demand in India post Covid.
Textiles: Revenue from Operations of Fabric Division increased from Rs150cr to Rs158cr and of Yarn Division marginally reduced from Rs273cr to Rs264cr amid challenging business environment in textile sector and lower capacity utilization of Fabric Division, which the management aims to improve in future. Inspite of above crisis in textile and retail sector, Loss Before Tax and Finance Cost but after Depreciation of Yarn Division reduced from Rs4.76cr to Rs0.57cr and of Fabric Division from Rs6.77cr to Rs5.93cr. EBITDA of Yarn Division increased from Rs9.4cr to Rs29.5cr and of Fabric division remained stable at Rs8cr.
Engineering Services: Revenue from Operations increased from Rs97cr to Rs115cr. Profit Before Tax and Finance Cost but after Depreciation increased substantially to Rs19.93cr as compare to Rs1.21cr of previous year. This division has done well in spite of the Covid-19 challenges and the Management is hopeful of good performance going forward in view of Work From Home for this segment and Cost Restructure supported by revival of Demand.