On Consolidated basis
Quarter ended Dec 2021 compared with Quarter ended Dec 2020
Net sales (including other operating income) of PCBL has increased 50.27% to Rs 1156.14 crore. Sales of Carbon Black segment has gone up 50.54% to Rs 1,128.31 crore (accounting for 96.09% of total sales). Sales of Power segment has gone up 22.94% to Rs 45.93 crore (accounting for 3.91% of total sales). Inter-segment sales rose Rs 17.45 crore to Rs 18.10 crore.
Profit before interest, tax and other unallocable items (PBIT) has slumped 8.31% to Rs 174.55 crore. PBIT of Carbon Black segment fell 16.72% to Rs 145.51 crore (accounting for 83.36% of total PBIT). PBIT of Power segment rose 85.68% to Rs 29.04 crore (accounting for 16.64% of total PBIT).
PBIT margin of Carbon Black segment fell from 23.31% to 12.90%. PBIT margin of Power segment rose from 41.86% to 63.23%. Overall PBIT margin fell from 24.19% to 14.86%.
Operating profit margin has declined from 24.47% to 14.53%, leading to 10.74% decline in operating profit to Rs 168.03 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 54.69% to 72.78%. Employee cost decreased from 4.56% to 3.43%. Other expenses fell from 15.68% to 9.31%. Loss on forex transaction fell from 0.37% to 0.28%.
Other income rose 268.31% to Rs 8.95 crore. PBIDT fell 7.18% to Rs 176.98 crore. Provision for interest fell 12.94% to Rs 6.93 crore.
PBDT fell 6.93% to Rs 170.05 crore. Provision for depreciation rose 10.87% to Rs 30.81 crore.
Profit before tax down 10.13% to Rs 139.24 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 27.72 crore, compared to Rs 29.38 crore. Effective tax rate was 19.91% compared to 18.96%.
Minority interest decreased 18.18% to Rs 0.09 crore. Net profit attributable to owners of the company decreased 11.17% to Rs 111.43 crore.
Promoters stake was 51.38% as of 31 December 2021 ,compared to 53.56% as of 31 December 2020 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of PCBL has increased 80.03% to Rs 3227.59 crore. Sales of Carbon Black segment has gone up 81.30% to Rs 3,161.29 crore (accounting for 96.27% of total sales). Sales of Power segment has gone up 30.10% to Rs 122.62 crore (accounting for 3.73% of total sales). Inter-segment sales rose Rs 46.15 crore to Rs 56.32 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 64.42% to Rs 564.58 crore. PBIT of Carbon Black segment rose 67.87% to Rs 493.44 crore (accounting for 87.40% of total PBIT). PBIT of Power segment rose 43.95% to Rs 71.14 crore (accounting for 12.60% of total PBIT).
PBIT margin of Carbon Black segment fell from 16.86% to 15.61%. PBIT margin of Power segment rose from 52.44% to 58.02%. Overall PBIT margin fell from 18.68% to 17.19%.
Operating profit margin has declined from 18.52% to 16.07%, leading to 56.21% rise in operating profit to Rs 518.62 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 60.30% to 69.46%. Employee cost decreased from 5.57% to 3.58%. Other expenses fell from 15.21% to 11.09%. Loss on forex transaction rose from 0.23% to 0.45%.
Other income rose 141.20% to Rs 16.45 crore. PBIDT rose 57.92% to Rs 535.07 crore. Provision for interest fell 13.95% to Rs 22.2 crore.
PBDT rose 63.85% to Rs 512.87 crore. Provision for depreciation rose 10.02% to Rs 90.4 crore.
Profit before tax grew 83.01% to Rs 422.47 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 84.39 crore, compared to Rs 44.67 crore. Effective tax rate was 19.98% compared to 19.35%.
Minority interest decreased 14.29% to Rs 0.24 crore. Net profit attributable to owners of the company increased 81.73% to Rs 337.84 crore.
Promoters stake was 51.38% as of 31 December 2021 ,compared to 53.56% as of 31 December 2020 .
Others
Dividend:
The board has declared an interim dividend @ 500% ie Rs 10/- per equity share of Rs 2/- each.
Phillips Carbon: Consolidated Results
| 2112(3) | 2012(3) | Var. (%) | 2112 (9) | 2012(9) | Var. (%) | 2103 (12) | 2003 (12) | Var. (%) | |
| Sales | 1156.14 | 769.40 | 50 | 3227.59 | 1792.79 | 80 | 2659.52 | 3243.54 | -18.0 |
| OPM (%) | 14.53 | 24.47 | -993 bps | 16.07 | 18.52 | -245 bps | 19.48 | 14.31 | 517 bps |
| OP | 168.03 | 188.25 | -11 | 518.62 | 332.00 | 56 | 518.04 | 464.05 | 11.6 |
| Other inc. | 8.95 | 2.43 | 268 | 16.45 | 6.82 | 141 | 18.00 | 29.01 | -38.0 |
| PBIDT | 176.98 | 190.68 | -7 | 535.07 | 338.82 | 58 | 536.04 | 493.06 | 8.7 |
| Interest | 6.93 | 7.96 | -13 | 22.20 | 25.80 | -14 | 33.88 | 45.90 | -26.2 |
| PBDT | 170.05 | 182.72 | -7 | 512.87 | 313.02 | 64 | 502.16 | 447.16 | 12.3 |
| Dep. | 30.81 | 27.79 | 11 | 90.40 | 82.17 | 10 | 110.12 | 92.36 | 19.2 |
| PBT | 139.24 | 154.93 | -10 | 422.47 | 230.85 | 83 | 392.04 | 354.80 | 10.5 |
| EO Income | – | – | – | – | – | – | – | – | – |
| PBT after EO | 139.24 | 154.93 | -10 | 422.47 | 230.85 | 83 | 392.04 | 354.80 | 10.5 |
| Taxation | 27.72 | 29.38 | -6 | 84.39 | 44.67 | 89 | 78.05 | 67.30 | 16.0 |
| PAT | 111.52 | 125.55 | -11 | 338.08 | 186.18 | 82 | 313.99 | 287.50 | 9.2 |
| Minority Interest (MI) | 0.09 | 0.12 | -25 | 0.24 | 0.28 | 0.36 | 0.95 | -62.1 | |
| Net profit | 111.43 | 125.43 | -11 | 337.84 | 185.90 | 82 | 313.63 | 286.55 | 9.5 |
| EPS (Rs)* | # | # | # | # | 16.7 | 15.3 | |||
| * EPS is on current equity of Rs 34.47 crore, Face value of Rs 2 # EPS is not annualised due to seasonality of business Figures in Rs crore Source: Capitaline Corporate Database |
Phillips Carbon : Consolidated Segment results
| Sales | % Of total | 2112 (3) | 2012 (3) | Var. (%) | % to total | 2112 (9) | 2012 (9) | Var. (%) | % to total | % Of total | 2103 (12) | 2003 (12) | Var. (%) |
| Carbon Black | 96.09% | 1128.31 | 749.49 | 51 | 96 | 3161.29 | 1743.69 | 81 | 96 | 97.47% | 2592.27 | 3157.06 | -18 |
| Power | 3.91% | 45.93 | 37.36 | 23 | 4 | 122.62 | 94.25 | 30 | 4 | 2.53% | 67.25 | 86.48 | -22 |
| Total Reportable Segment | 100.00% | 1174.24 | 786.85 | 49 | 100 | 3283.91 | 1837.94 | 79 | 100 | 100.00% | 2659.52 | 3243.54 | -18 |
| Less: Inter segment revenues | 18.10 | 17.45 | 56.32 | 45.15 | 63.45 | 65.30 | |||||||
| Net sales | 100.00% | 1156.14 | 769.40 | 50 | 3227.59 | 1792.79 | 80 | 100.00% | 2596.07 | 3178.24 | -18 | ||
| PBIT | |||||||||||||
| Carbon Black | 83.36% | 145.51 | 174.72 | -17 | 83 | 493.44 | 293.95 | 68 | 87 | 87.43% | 494.60 | 467.82 | 6 |
| Power | 16.64% | 29.04 | 15.64 | 86 | 17 | 71.14 | 49.42 | 44 | 13 | 12.57% | 71.09 | 99.05 | -28 |
| Total | 100.00% | 174.55 | 190.36 | -8 | 100 | 564.58 | 343.37 | 64 | 100 | 100.00% | 565.69 | 566.87 | 0 |
| Less: Interest | 6.93 | 7.96 | -13 | 22.20 | 25.80 | -14 | 33.88 | 45.90 | -26 | ||||
| Add: Interest Income | |||||||||||||
| Add: Other un-allocable Expenditure nEt of un-allocable income | 28.38 | 27.47 | 3 | 119.91 | 86.72 | 38 | 139.77 | 166.17 | -16 | ||||
| PBIT Margin | |||||||||||||
| Carbon Black | 12.90% | 23.31% | 15.61% | 16.86% | 19.08% | 14.82% | |||||||
| Power | 63.23% | 41.86% | 58.02% | 52.44% | 105.71% | 114.54% | |||||||
| PBT | 139.24 | 154.93 | -10 | 422.47 | 230.85 | 83 | 392.04 | 354.80 | 10 | ||||
| Figures in Rs crore Source: Capitaline Corporate Database LP Loss to profit |
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