Sandhar Technologies Limited

18 May 2022 , 05:15 PM

For the quarter ending March 2022, consolidated net sales (including other operating income) of Sandhar Technologies Limited has increased 6.48% to Rs 683.58 crore compared to quarter ended march 2021. 
Operating profit margin has declined from 12.12% to 9.17%, leading to 19.44% decline in operating profit to Rs 62.67 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 59.78% to 63.23%.   Employee cost increased from 12.40% to 12.68%.   Other expenses fell from 15.73% to 14.94%.   Other income fell 38.46% to Rs 1.92 crore.  PBIDT fell 20.17% to Rs 64.59 crore.  Provision for interest rose 54.55% to Rs 6.12 crore.  Loan funds rose to Rs 614.19 crore as of 31 March 2022 from Rs 310.34 crore as of 31 March 2021.  Inventories rose to Rs 259.70 crore as of 31 March 2022 from Rs 211.37 crore as of 31 March 2021.  Sundry debtors were higher at Rs 445.37 crore as of 31 March 2022 compared to Rs 392.92 crore as of 31 March 2021.  Cash and bank balance declined from Rs 11.12 crore as of 31 March 2021 to Rs 6.62 crore as of 31 March 2022.  Investments declined from Rs 58.41 crore as of 31 March 2021 to Rs 53.26 crore as of 31 March 2022.  PBDT fell 24.02% to Rs 58.47 crore.  Provision for depreciation rose 9.66% to Rs 26.57 crore.  Fixed assets increased to Rs 1,064.58 crore as of 31 March 2022 from Rs 850.80 crore as of 31 March 2021.  Intangible assets stood at Rs 5.53 crore.  Profit before tax down 39.49% to Rs 31.90 crore.  Share of profit/loss was 6.85% lower at Rs -2.34 crore.  Provision for tax was expense of Rs 10.76 crore, compared to Rs 10.29 crore.  Effective tax rate was 37.82% compared to 20.36%.Minority interest increased 72.73% to Rs 0.19 crore.  Net profit attributable to owners of the company decreased 56.39% to Rs 17.50 crore.  Equity capital stood at Rs 60.19 crore as of 31 March 2022 to Rs 60.19 crore as of 31 March 2021.  Per share face Value remained same at Rs 10.00.  Promoters stake was 70.38% as of 31 March 2022 ,compared to 70.35% as of 31 March 2021 .  

Full year results analysis.

Net sales (including other operating income) of Sandhar Technologies Limited has increased 24.69% to Rs 2323.7 crore.  Operating profit margin has declined from 10.11% to 8.87%, leading to 9.36% rise in operating profit to Rs 206.03 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 58.59% to 61.31%.   Employee cost decreased from 14.91% to 13.57%.   Other expenses fell from 16.39% to 16.34%.   Other income fell 35.25% to Rs 6.98 crore.  PBIDT rose 6.94% to Rs 213.01 crore.  Provision for interest rose 10.55% to Rs 17.71 crore.  Loan funds rose to Rs 614.19 crore as of 31 March 2022 from Rs 310.34 crore as of 31 March 2021.  Inventories rose to Rs 259.70 crore as of 31 March 2022 from Rs 211.37 crore as of 31 March 2021.  Sundry debtors were higher at Rs 445.37 crore as of 31 March 2022 compared to Rs 392.92 crore as of 31 March 2021.  Cash and bank balance declined from Rs 11.12 crore as of 31 March 2021 to Rs 6.62 crore as of 31 March 2022.  Investments declined from Rs 58.41 crore as of 31 March 2021 to Rs 53.26 crore as of 31 March 2022.  PBDT rose 6.63% to Rs 195.3 crore.  Provision for depreciation rose 6.47% to Rs 100.03 crore.  Fixed assets increased to Rs 1,064.58 crore as of 31 March 2022 from Rs 850.80 crore as of 31 March 2021.  Intangible assets stood at Rs 5.53 crore.  Profit before tax grew 6.79% to Rs 95.27 crore.  Share of profit/loss was 13.57% lower at Rs -12.72 crore.  Provision for tax was expense of Rs 25.51 crore, compared to Rs 20.18 crore.  Effective tax rate was 31.32% compared to 25.87%.Minority interest increased 150% to Rs 0.20 crore.  Net profit attributable to owners of the company decreased 3.50% to Rs 55.73 crore.  Equity capital stood at Rs 60.19 crore as of 31 March 2022 to Rs 60.19 crore as of 31 March 2021.  Per share face Value remained same at Rs 10.00.  Promoters stake was 70.38% as of 31 March 2022 ,compared to 70.35% as of 31 March 2021 .  Cash flow from operating activities decreased to Rs 48.62 crore for year ended March 2022 from Rs 123.72 crore for year ended March 2021.  Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 297.03 crore, compared to Rs 76.97 crore during the year ended March 2021.   Dividend update Board Recommended a final dividend @ Rs 2.25 per share for financial year ended the 31st March, 2022.

Sandhar Technologies Limited: Consolidated Results

Quarter ended Year ended Particulars 202203 202103 Var.(%) 202203 202103 Var.(%) Net Sales (including other operating income) 683.58 642.00 6.48 2,323.70 1,863.57 24.69 OPM (%) 9.17 12.12 -295 bps 8.87 10.11 -124 bps OP 62.67 77.79 -19.44 206.03 188.40 9.36 Other Inc. 1.92 3.12 -38.46 6.98 10.78 -35.25 PBIDT 64.59 80.91 -20.17 213.01 199.18 6.94 Interest 6.12 3.96 54.55 17.71 16.02 10.55 PBDT 58.47 76.95 -24.02 195.30 183.16 6.63 Depreciation 26.57 24.23 9.66 100.03 93.95 6.47 PBT 31.90 52.72 -39.49 95.27 89.21 6.79 Share of Profit/(Loss) from Associates -2.34 -2.19 -6.85 -12.72 -11.2 -13.57 PBT before EO 29.56 50.53 -41.50 82.55 78.01 5.82 EO Income -1.11 0 – -1.11 0 – PBT after EO 28.45 50.53 -43.70 81.44 78.01 4.40 Taxation 10.76 10.29 4.57 25.51 20.18 26.41 PAT 17.69 40.24 -56.04 55.93 57.83 -3.29 Minority Interest (MI) 0.19 0.11 72.73 0.2 0.08 150.00 Net profit 17.5 40.13 -56.39 55.73 57.75 -3.50 P/(L) from discontinued operations net of tax 0 0 – 0 0 – Net profit after discontinued operations 17.5 40.13 -56.39 55.73 57.75 -3.50 EPS (Rs)* 3.03 6.67 -54.62 9.39 9.59 -2.11 * EPS is on current equity of Rs 60.19 crore, Face value of Rs 10, Excluding extraordinary items. EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

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