We expect strong growth in revenues for the consumer durable and lighting segment to continue and believe that performance of E&P segment will remain mediocre for the next four quarters
(Rs m) | Q4 FY13 | Q4 FY12 | % yoy | Q3 FY13 | % qoq |
Net sales | 11,137 | 10,602 | 5.1 | 8,730 | 27.6 |
Material costs | (933) | (1,153) | (19.1) | (262) | 256.3 |
Purchase of traded goods | (8,214) | (7,090) | 15.8 | (6,343) | 29.5 |
Personnel costs | (398) | (380) | 4.8 | (396) | 0.4 |
Other overheads | (1,461) | (1,117) | 30.8 | (1,370) | 6.6 |
Operating profit | 132 | 862 | (84.7) | 359 | (63.2) |
OPM (%) | 1.2 | 8.1 | (694) bps | 4.1 | (293) bps |
Depreciation | (43) | (37) | 16.7 | (35) | 20.3 |
Interest | (161) | (163) | (1.3) | (169) | (4.7) |
Other income | 82 | 64 | 27.7 | 27 | 203.7 |
PBT | 10 | 726 | (98.6) | 182 | (94.4) |
Tax | (4) | (236) | (98.3) | (57) | (93.2) |
Effective tax rate (%) | 38.2 | 32.5 | - | 31.5 | - |
Reported PAT | 6 | 490 | (98.7) | 124 | (94.9) |
PAT margin (%) | 0.1 | 4.6 | (456) bps | 1.4 | (137) bps |
Ann. EPS (Rs) | 0.3 | 19.7 | (98.7) | 5.0 | (94.9) |
As a % of net sales | Q4 FY13 | Q4 FY12 | bps yoy | Q3 FY13 | bps qoq |
Material costs | 8.4 | 10.9 | (250) | 3.0 | 538 |
Purchase of traded goods | 73.7 | 66.9 | 687 | 72.7 | 110 |
Personnel Costs | 3.6 | 3.6 | (1) | 4.5 | (97) |
Other overheads | 13.1 | 10.5 | 258 | 15.7 | (258) |
Total costs | 98.8 | 91.9 | 694 | 95.9 | 293 |