KEI Industries

28 Jul 2022 , 02:29 AM

Standalone net sales (including other operating income) of KEI Industries for the quarter ended June 2022 has increased 53.84% to Rs 1,565.41 crore.  Operating profit margin has declined from 11.18% to 10.20%, leading to 40.38% rise in operating profit to Rs 159.64 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 72.27% to 75.43%.   Employee cost decreased from 4.44% to 3.54%.   Other expenses fell from 13.28% to 10.96%.   Contract job process charges fell from 3.00% to 1.32%.  Other income up 26.98% to Rs 3.53 crore.  PBIDT rose 40.06% to Rs 163.17 crore.  Provision for interest fell 19.18% to Rs 9.23 crore.  PBDT rose 46.50% to Rs 153.94 crore.  Provision for depreciation rose 0.22% to Rs 13.88 crore.  Profit before tax grew 53.52% to Rs 140.06 crore.  Provision for tax was expense of Rs 36.29 crore, compared to Rs 24.12 crore.  Effective tax rate was 25.91% compared to 26.44%. Profit after tax rose 54.63% to Rs 103.77 crore.           

Sales of Segment – Cables segment has gone up 60.62% to Rs 1,420.57 crore (accounting for 86.88% of total sales).  Sales of Segment – Stainless Steel Wire segment has gone up 27.61% to Rs 61.00 crore (accounting for 3.73% of total sales).  Sales of Segment-EPC Projects segment has gone up 11.42% to Rs 153.59 crore (accounting for 9.39% of total sales).  Inter-segment sales rose Rs 53.03 crore to Rs 69.75 crore.          

Profit before interest, tax and other unallocable items (PBIT) has jumped 26.94% to Rs 139.87 crore.  PBIT of Segment – Cables segment rose 34.47% to Rs 127.37 crore (accounting for 91.06% of total PBIT).  PBIT of Segment – Stainless Steel Wire segment rose 1.64% to Rs 3.04 crore (accounting for 2.17% of total PBIT).  PBIT of Segment-EPC Projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76% of total PBIT).          

PBIT margin of Segment – Cables segment fell from 10.71% to 8.97%.  PBIT margin of Segment – Stainless Steel Wire segment fell from 6.26% to 4.98%.  PBIT margin of Segment-EPC Projects segment fell from 9.05% to 6.16%.  Overall PBIT margin fell from 10.30% to 8.55%.  

 

Consolidated net sales (including other operating income) of KEI Industries for the quarter ended Jun 2022 has increased 53.84% to Rs 1565.41 crore.  Sales of Segment-Cables segment has gone up 60.62% to Rs 1,420.57 crore (accounting for 86.88% of total sales).  Sales of Segment-Stainees Steel Wire segment has gone up 27.61% to Rs 61.00 crore (accounting for 3.73% of total sales).  Sales of Segment-EPC projects segment has gone up 11.42% to Rs 153.59 crore (accounting for 9.39% of total sales).  Inter-segment sales rose Rs 53.03 crore to Rs 69.75 crore.   Profit before interest, tax and other unallocable items (PBIT) has jumped 26.95% to Rs 139.86 crore.  PBIT of Segment-Cables segment rose 34.48% to Rs 127.36 crore (accounting for 91.06% of total PBIT).  PBIT of Segment-Stainees Steel Wire segment rose 1.64% to Rs 3.04 crore (accounting for 2.17% of total PBIT).  PBIT of Segment-EPC projects segment fell 24.14% to Rs 9.46 crore (accounting for 6.76% of total PBIT).   PBIT margin of Segment-Cables segment fell from 10.71% to 8.97%.  PBIT margin of Segment-Stainees Steel Wire segment fell from 6.26% to 4.98%.  PBIT margin of Segment-EPC projects segment fell from 9.05% to 6.16%.  Overall PBIT margin fell from 10.30% to 8.55%.   Operating profit margin has declined from 11.17% to 10.20%, leading to 40.38% rise in operating profit to Rs 159.63 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 72.27% to 75.43%.   Employee cost decreased from 4.44% to 3.54%.   Other expenses fell from 13.28% to 10.96%.   Contract job process charges fell from 3.00% to 1.32%.    Other income rose 26.98% to Rs 3.53 crore.  PBIDT rose 40.06% to Rs 163.16 crore.  Provision for interest fell 19.18% to Rs 9.23 crore.   PBDT rose 46.50% to Rs 153.93 crore.  Provision for depreciation rose 0.22% to Rs 13.88 crore.   Profit before tax grew 53.53% to Rs 140.05 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 36.29 crore, compared to Rs 24.12 crore.  Effective tax rate was 25.91% compared to 26.44%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 54.63% to Rs 103.76 crore.     Promoters stake was 38.02% as of 30 June 2022 ,compared to 39.23% as of 30 June 2021.

KEI Industries : Consolidated Results

Quarter ended Year ended Particulars 202206 202106 Var.(%) 202203 202103 Var.(%) Net Sales (including other operating income) 1,565.41 1,017.56 53.84 5,726.55 4,181.54 36.95 OPM (%) 10.20 11.17 -98 bps 10.28 10.89 -61 bps OP 159.63 113.71 40.38 588.72 455.47 29.26 Other Inc. 3.53 2.78 26.98 14.60 20.06 -27.22 PBIDT 163.16 116.49 40.06 603.32 475.53 26.87 Interest 9.23 11.42 -19.18 40.39 57.31 -29.52 PBDT 153.93 105.07 46.50 562.93 418.22 34.60 Depreciation 13.88 13.85 0.22 55.45 57.81 -4.08 PBT 140.05 91.22 53.53 507.48 360.41 40.81 Share of Profit/(Loss) from Associates 0 0 – 0.04 0.1 -60.00 PBT before EO 140.05 91.22 53.53 507.52 360.51 40.78 EO Income 0 0 – 0 0 – PBT after EO 140.05 91.22 53.53 507.52 360.51 40.78 Taxation 36.29 24.12 50.46 131.51 90.86 44.74 PAT 103.76 67.1 54.63 376.01 269.65 39.44 Minority Interest (MI) 0 0 – -0.01 0.1 LP Net profit 103.76 67.1 54.63 376.02 269.55 39.50 P/(L) from discontinued operations net of tax 0 0 – 0 0 – Net profit after discontinued operations 103.76 67.1 54.63 376.02 269.55 39.50 EPS (Rs)* 11.52 7.45 54.63 41.73 29.92 39.50 * EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, Excluding extraordinary items. EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

KEI Industries : Consolidated Segment Results

Quarter ended Year ended % of (Total) 202206 202106 Var.(%) % of (Total) 202203 202103 Var.(%) Sales Segment-Cables 86.88 1,420.57 884.43 60.62 82.33 5,122.68 3,574.26 43.32 Segment-Stainees Steel Wire 3.73 61.00 47.80 27.61 3.63 225.94 141.65 59.50 Segment-EPC projects 9.39 153.59 137.85 11.42 14.04 873.49 976.70 -10.57 Total Reported Sales 100.00 1,635.16 1,070.08 52.81 100.00 6,222.11 4,692.61 32.59 Less: Inter segment revenues   69.75 53.03 31.53   495.56 511.08 -3.04 Net Sales 100.00 1,565.41 1,017.05 53.92 100.00 5,726.55 4,181.54 36.95 PBIT Segment-Cables 91.06 127.36 94.71 34.48 83.57 486.36 409.47 18.78 Segment-Stainees Steel Wire 2.17 3.04 2.99 1.64 2.34 13.63 8.39 62.60 Segment-EPC projects 6.76 9.46 12.47 -24.14 14.09 81.98 90.74 -9.65 Total PBIT 100.00 139.86 110.17 26.95 100.00 581.97 508.59 14.43 Less : Interest 9.23 11.42 -19.17 40.39 57.31 -29.52 Add: Other un-allcoable 9.41 -7.54 LP -34.05 -90.78 62.49 PBIT Margin(%) Segment-Cables   8.97 10.71 -174.31   9.49 11.46 -196.19 Segment-Stainees Steel Wire   4.98 6.26 -127.37   6.03 5.92 11.50 Segment-EPC projects   6.16 9.05 -288.66   9.39 9.29 9.50 PBT 100.00 140.05 91.22 53.53 100.00 507.53 360.51 40.78

KEI Industries : Standalone Results

Quarter ended Year ended Particulars 202206 202106 Var.(%) 202203 202103 Var.(%) Net Sales (including other operating income) 1,565.41 1,017.56 53.84 5,726.55 4,181.49 36.95 OPM (%) 10.20 11.18 -98 bps 10.28 10.89 -61 bps OP 159.64 113.72 40.38 588.68 455.47 29.25 Other Inc. 3.53 2.78 26.98 14.89 20.06 -25.77 PBIDT 163.17 116.50 40.06 603.57 475.53 26.93 Interest 9.23 11.42 -19.18 40.39 57.31 -29.52 PBDT 153.94 105.08 46.50 563.18 418.22 34.66 Depreciation 13.88 13.85 0.22 55.45 57.81 -4.08 PBT 140.06 91.23 53.52 507.73 360.41 40.88 PBT before EO 140.06 91.23 53.52 507.73 360.41 40.88 EO Income 0 0 – 0 0 – PBT after EO 140.06 91.23 53.52 507.73 360.41 40.88 Taxation 36.29 24.12 50.46 131.51 90.86 44.74 PAT 103.77 67.11 54.63 376.22 269.55 39.57 P/(L) from discontinued operations net of tax 0 0 – 0 0 – Net profit after discontinued operations 103.77 67.11 54.63 376.22 269.55 39.57 EPS (Rs)* 11.52 7.45 54.63 41.75 29.92 39.57 * EPS is on current equity of Rs 18.02 crore, Face value of Rs 2, Excluding extraordinary items. EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

KEI Industries : Standalone Segment Results

Quarter ended Year ended % of (Total) 202206 202106 Var.(%) % of (Total) 202203 202103 Var.(%) Sales Segment – Cables 86.88 1,420.57 884.43 60.62 82.33 5,122.68 3,574.21 43.32 Segment – Stainless Steel Wire 3.73 61.00 47.80 27.61 3.63 225.94 141.65 59.50 Segment-EPC Projects 9.39 153.59 137.85 11.42 14.04 873.49 976.70 -10.57 Total Reported Sales 100.00 1,635.16 1,070.08 52.81 100.00 6,222.11 4,692.56 32.60 Less: Inter segment revenues   69.75 53.03 31.53   495.56 511.08 -3.04 Net Sales 100.00 1,565.41 1,017.05 53.92 100.00 5,726.55 4,181.49 36.95 PBIT Segment – Cables 91.06 127.37 94.72 34.47 83.57 486.42 409.53 18.78 Segment – Stainless Steel Wire 2.17 3.04 2.99 1.64 2.34 13.63 8.39 62.60 Segment-EPC Projects 6.76 9.46 12.47 -24.14 14.09 81.98 90.74 -9.65 Total PBIT 100.00 139.87 110.18 26.94 100.00 582.03 508.65 14.43 Less : Interest 9.23 11.42 -19.17 40.39 57.31 -29.52 Add: Other un-allcoable 9.41 -7.54 LP -33.91 -90.94 62.71 PBIT Margin(%) Segment – Cables   8.97 10.71 -174.38   9.50 11.46 -196.24 Segment – Stainless Steel Wire   4.98 6.26 -127.37   6.03 5.92 11.50 Segment-EPC Projects   6.16 9.05 -288.66   9.39 9.29 9.50 PBT 100.00 140.05 91.23 53.52 100.00 507.73 360.41 40.88

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