iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

V I P Industries

28 Jul 2022 , 12:06 AM

V I P Industries consolidated net sales increased 186.41% to Rs 590.61 crore in Q1FY23 compared to Q1FY22.  Operating profit margin has jumped from 6.27% to 17.37%, leading to 694.20% rise in operating profit to Rs 102.61 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 36.56% to 36.42%.   Purchase of finished goods cost fell from 12.42% to 11.88%.   Employee cost decreased from 18.89% to 10.55%.   Other expenses fell from 25.86% to 23.17%.  The company has witnessed a strong revival after two years of disruptions caused by the Covid19 pandemic,as the impact of the pandemic subsides and the company does not anticipate any significant impact of the pandemic on its financial results and its liquidity. The financial results for the comparative quarters ended June 30, 2021 and March 31, 2022 were impacted due to the lockdowns and disruptions caused by the COVID-19 pandemic during the previous fiscal year. Other income fell 50.84% to Rs 7.05 crore.  PBIDT rose 302.27% to Rs 109.66 crore.  Provision for interest fell 11.02% to Rs 6.54 crore.  PBDT rose 417.93% to Rs 103.12 crore.  Provision for depreciation fell 0.22% to Rs 18.02 crore.  Profit before EO was Rs 85.10 crore compared to Rs 1.85 crore.  The company reported EO income of Rs 15 crore compared to nil EO items during the quarter. PBT after EO was Rs 100.1 crore. EO item relates to a partial receipt of the insurance claim from the Insurance company against the claim lodged with reference to a loss of property, plant and equipment and inventories that were destroyed due to a fire at the companys regional warehouse at Ghaziabad on April 03, 2019. The company expects to receive the balance claim in the near future. Provision for tax was debit of Rs 31 crore, compared to credit of Rs 0.68 crore.  Effective tax rate was 30.97% compared to negative 36.76%. Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 2,631.23% to Rs 69.10 crore.  Promoters stake was 50.79% as of 30 June 2022 ,compared to 53.46% as of 30 June 2021.  Full year results analysis Net sales of V I P Industries have increased 108.47% to Rs 1289.51 crore.  Operating profit margin (OPM) has turned from negative 10.55% to positive 11.20%, Operating profit for the quarter stood at Rs 144.40 crore compared to loss of Rs 65.27 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 35.81% to 39.79%.   Purchase of finished goods cost rose from 9.91% to 14.99%.   Employee cost decreased from 29.59% to 13.24%.   Other expenses fell from 38.72% to 21.85%.   Other income fell 24.80% to Rs 36.36 crore.  PBIDT stood at Rs 180.76 crore compared to loss of Rs 16.92 crore.  Provision for interest fell 17.18% to Rs 24.64 crore.  Loan funds declined from Rs 353.44 crore as of 31 March 2021 to Rs 298.18 crore as of 31 March 2022.  Inventories rose to Rs 518.38 crore as of 31 March 2022 from Rs 301.65 crore as of 31 March 2021.  Sundry debtors were higher at Rs 218.51 crore as of 31 March 2022 compared to Rs 148.47 crore as of 31 March 2021.  Cash and bank balance declined from Rs 90.50 crore as of 31 March 2021 to Rs 20.73 crore as of 31 March 2022.  Investments declined from Rs 140.98 crore as of 31 March 2021 to Rs 41.71 crore as of 31 March 2022.  PBDT stood at Rs 156.12 crore compared to loss of Rs 46.67 crore.  Provision for depreciation fell 10.24% to Rs 69.96 crore.  Fixed assets declined from Rs 287.95 crore as of 31 March 2021 to Rs 270.33 crore as of 31 March 2022.  Intangible assets declined from Rs 2.53 crore to Rs 1.94 crore.  Profit before tax reported profit of Rs 86.16 crore compared to loss of Rs 124.61 crore.  Provision for tax was debit of Rs 19.23 crore, compared to credit of Rs 27.12 crore.  Net profit reported was Rs 66.93 crore compared to loss of Rs 97.49 crore. Equity capital increased from Rs 28.26 crore as of 31 March 2021 to Rs 28.29 crore as of 31 March 2022.  Per share face Value remained same at Rs 2.00.  Promoters stake was 50.38% as of 31 March 2022 ,compared to 53.46% as of 31 March 2021 .  Cash flow from operating activities has turned negative Rs 23.68 crore for year ended March 2022 from positive Rs 17.04 crore for year ended March 2021.  Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 36.46 crore compared to Rs 9.12 crore during the year ended March 2021.  The scrip is currently trading at Rs 648   

VIP Industries: Consolidated Results
  2206 (03) 2106 (03) Var.(%) 2203 (12) 2103 (12) Var.(%)
Total Operating Income 590.61 206.21 186 1289.51 618.56 108
OPM(%) 17.4% 6.3%   11.2% -10.6%  
OP 102.61 12.92 694 144.40 -65.27 LP
Other Income 7.05 14.34 -51 36.36 48.35 -25
PBIDT 109.66 27.26 302 180.76 -16.92 LP
Interest 6.54 7.35 -11 24.64 29.75 -17
PBDT 103.12 19.91 418 156.12 -46.67 LP
Depreciation 18.02 18.06 0 69.96 77.94 -10
PBT Before EO 85.10 1.85 999 86.16 -124.61 LP
EO 15.00 0.00   0.00 0.00  
PBT after EO 100.10 1.85 999 86.16 -124.61 LP
Tax provision 31.00 -0.68 PL 19.23 -27.12 PL
PAT 69.10 2.53 999 66.93 -97.49 LP
EO (net of tax) 0.00 0.00   0.00 0.00  
PAT after EO 69.10 2.53 999 66.93 -97.49 LP
Minority Interest 0.00 0.00   0.00 0.00  
PAT after MI 69.10 2.53 999 66.93 -97.49 LP
EPS*   4.7 -6.9  
* Annualized On Current Equity Of Rs 28.26 Crore of face value of Rs 2 each
EO: Extraordinary Items, PL: Profit to Loss
EPS Is Calculated After Excluding EO And Relevant Tax
EPS not annualised due to seasonality of business
Figures In Rs Crore
Source: Capitaline Database

 

Powered by Capital Market – Live News

Related Tags

  • capital market
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.