| Net sales (including other operating income) of International Combustion (India) for the quarter ended Mar 2024 has increased 25.59% to Rs 81.27 crore. Operating profit margin has declined from 10.06% to 9.65%, leading to 20.43% rise in operating profit to Rs 7.84 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 52.71% to 52.33%. Employee cost decreased from 19.79% to 18.37%. Other expenses rose from 17.02% to 19.27%. Other income up 254.84% to Rs 1.1 crore. PBIDT rose 31.09% to Rs 8.94 crore. Provision for interest up 29.41% to Rs 0.66 crore. Loan funds rose to Rs 31.15 crore as of 31 March 2024 from Rs 13.12 crore as of 31 March 2023. Inventories rose to Rs 70.14 crore as of 31 March 2024 from Rs 53.28 crore as of 31 March 2023. Sundry debtors were higher at Rs 67.33 crore as of 31 March 2024 compared to Rs 46.49 crore as of 31 March 2023. Cash and bank balance rose to Rs 5.56 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023. Investments declined from Rs 11.21 crore as of 31 March 2023 to Rs 9.30 crore as of 31 March 2024. PBDT rose 31.22% to Rs 8.28 crore. Provision for depreciation rose 30.84% to Rs 1.4 crore. Fixed assets increased to Rs 59.69 crore as of 31 March 2024 from Rs 42.98 crore as of 31 March 2023. Profit before tax grew 31.30% to Rs 6.88 crore. Provision for tax was expense of Rs 3.18 crore, compared to Rs 1.76 crore. Effective tax rate was 46.22% compared to 33.59%. Profit after tax rose 6.32% to Rs 3.70 crore.
Full year results analysis
Net sales (including other operating income) of International Combustion (India) has increased 33.35% to Rs 296.78 crore. Operating profit margin has jumped from 7.79% to 12.91%, leading to 120.93% rise in operating profit to Rs 38.31 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 53.97% to 52.27%. Employee cost decreased from 21.39% to 18.70%. Other expenses fell from 16.96% to 16.20%. Other income up 88.78% to Rs 1.85 crore. PBIDT rose 119.21% to Rs 40.16 crore. Provision for interest up 53.20% to Rs 3.11 crore. Loan funds rose to Rs 31.15 crore as of 31 March 2024 from Rs 13.12 crore as of 31 March 2023. Inventories rose to Rs 70.14 crore as of 31 March 2024 from Rs 53.28 crore as of 31 March 2023. Sundry debtors were higher at Rs 67.33 crore as of 31 March 2024 compared to Rs 46.49 crore as of 31 March 2023. Cash and bank balance rose to Rs 5.56 crore as of 31 March 2024 from Rs 4.62 crore as of 31 March 2023. Investments declined from Rs 11.21 crore as of 31 March 2023 to Rs 9.30 crore as of 31 March 2024. PBDT rose 127.44% to Rs 37.05 crore. Provision for depreciation rose 19.09% to Rs 4.99 crore. Fixed assets increased to Rs 59.69 crore as of 31 March 2024 from Rs 42.98 crore as of 31 March 2023. Profit before tax grew 164.96% to Rs 32.06 crore. Provision for tax was expense of Rs 12.11 crore, compared to Rs 3.79 crore. Effective tax rate was 37.77% compared to 31.32%. Profit after tax rose 140.07% to Rs 19.95 crore. Equity capital stood at Rs 2.39 crore as of 31 March 2024 to Rs 2.39 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 52.88% as of 31 March 2024 ,compared to 52.79% as of 31 March 2023 .
| International Combustion (India) : Standalone Results | | Quarter ended | Year ended |
|---|
| Particulars | 202403 | 202303 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 81.27 | 64.71 | 25.59 | 296.78 | 222.56 | 33.35 | | OPM (%) | 9.65 | 10.06 | -41 bps | 12.91 | 7.79 | 512 bps | | OP | 7.84 | 6.51 | 20.43 | 38.31 | 17.34 | 120.93 | | Other Inc. | 1.10 | 0.31 | 254.84 | 1.85 | 0.98 | 88.78 | | PBIDT | 8.94 | 6.82 | 31.09 | 40.16 | 18.32 | 119.21 | | Interest | 0.66 | 0.51 | 29.41 | 3.11 | 2.03 | 53.20 | | PBDT | 8.28 | 6.31 | 31.22 | 37.05 | 16.29 | 127.44 | | Depreciation | 1.4 | 1.07 | 30.84 | 4.99 | 4.19 | 19.09 | | PBT | 6.88 | 5.24 | 31.30 | 32.06 | 12.1 | 164.96 | | PBT before EO | 6.88 | 5.24 | 31.30 | 32.06 | 12.1 | 164.96 | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 6.88 | 5.24 | 31.30 | 32.06 | 12.1 | 164.96 | | Taxation | 3.18 | 1.76 | 80.68 | 12.11 | 3.79 | 219.53 | | PAT | 3.7 | 3.48 | 6.32 | 19.95 | 8.31 | 140.07 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 3.7 | 3.48 | 6.32 | 19.95 | 8.31 | 140.07 | | EPS (Rs)* | 15.48 | 14.56 | 6.32 | 83.47 | 34.77 | 140.07 | | | * EPS is on current equity of Rs 2.39 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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| International Combustion (I): Consolidated
Segment Results |
|
|
|
| Particulars |
% to total |
2403 (3) |
2303 (3) |
Var. (%) |
% to total |
2403 (12) |
2303 (12) |
Var.(%) |
| Sales |
|
|
|
|
|
|
|
|
| Mineral & Material
Processing & Handling Equipment |
65 |
54.32 |
40.96 |
33 |
65 |
197.33 |
136.00 |
45 |
| Geared Motors & Gear Box |
26 |
21.35 |
19.35 |
10 |
27 |
81.27 |
68.96 |
18 |
| Building Materials |
9 |
7.39 |
6.04 |
22 |
8 |
25.46 |
21.21 |
20 |
| Total |
100 |
83.05 |
66.35 |
25 |
100 |
304.06 |
226.17 |
34 |
| Less Inter
segment revenue |
1.78 |
1.64 |
|
|
7.27 |
3.61 |
|
| Net sales |
|
81.27 |
64.71 |
26 |
|
296.78 |
222.56 |
33 |
| PBIT |
|
|
|
|
|
|
|
|
| Mineral & Material
Processing & Handling Equipment |
102 |
14.54 |
11.05 |
32 |
95 |
58.20 |
34.59 |
68 |
| Geared Motors & Gear Box |
-2 |
-0.26 |
0.85 |
-130 |
6 |
3.81 |
4.36 |
-13 |
| Building Materials |
0 |
0.03 |
-0.33 |
-110 |
-1 |
-0.51 |
-2.26 |
-77 |
| Total |
100 |
14.31 |
11.57 |
24 |
100 |
61.50 |
36.70 |
68 |
| Less: Interest (net) |
|
0.66 |
0.51 |
30 |
|
3.11 |
2.03 |
53 |
| Less:
Others Un-allocable Exp/Income (net) |
6.77 |
5.81 |
16 |
|
26.33 |
22.57 |
17 |
| Add: EO |
|
|
|
|
|
|
|
|
| PBT |
|
6.88 |
5.24 |
31 |
|
32.07 |
12.10 |
165 |
| Note:
Figures in Rs crore |
|
|
|
|
|
|
|
| Source:
Capitaline 2000 |
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|
|
|
|
|
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