Consolidate net sales (including other operating income) of Bharat Heavy Electricals for the quarter ended Mar 2022 has increased 12.43% to Rs 8061.68 crore. Operating profit margin (OPM) has turned from negative 17.69% to positive 14.29%, Operating profit for the quarter stood at Rs 1,151.90 crore compared to loss of Rs 1,268.40 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.97% to 44.51%. Purchase of finished goods cost rose from 23.10% to 27.44%. Employee cost decreased from 18.30% to 17.16%. Other expenses fell from 33.41% to 3.62%. Stores consumed for sales fell from 1.38% to 1.23%. Other income rose 60.72% to Rs 120.04 crore. PBIDT stood at Rs 1,271.94 crore compared to loss of Rs 1193.71 crore. Provision for interest rose 21.22% to Rs 95.56 crore. PBDT stood at Rs 1,176.38 crore compared to loss of Rs 1272.54 crore. Provision for depreciation fell 32.10% to Rs 85.95 crore. Profit before tax reported profit of Rs 1,090.43 crore compared to loss of Rs 1,399.12 crore. Share of profit/loss was 23.96% higher at Rs 11.33 crore. Provision for tax was debit of Rs 189.29 crore, compared to credit of Rs 353.66 crore. Effective tax rate was 17.18% compared to 25.44%. Minority interest was nil in both the periods. Full year results analysis. Net sales (including other operating income) has increased 22.55% to Rs 21211.09 crore. Operating profit margin (OPM) has turned from negative 18.15% to positive 3.47%, Operating profit for the quarter stood at Rs 735.58 crore compared to loss of Rs 3,141.29 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 43.21% to 47.63%. Purchase of finished goods cost fell from 22.69% to 20.03%. Employee cost decreased from 32.02% to 26.69%. Other expenses fell from 20.78% to 2.10%. Stores consumed for sales fell from 1.72% to 1.31%. Other income rose 1.76% to Rs 354.54 crore. PBIDT stood at Rs 1,090.12 crore compared to loss of Rs 2792.87 crore. Provision for interest fell 4.81% to Rs 355.96 crore. PBDT stood at Rs 734.16 crore compared to loss of Rs 3166.82 crore. Provision for depreciation fell 33.62% to Rs 314.12 crore. Profit before tax reported profit of Rs 420.04 crore compared to loss of Rs 3,640.07 crore. Share of profit/loss was 14.23% higher at Rs 50.42 crore. Provision for tax was debit of Rs 25.75 crore, compared to credit of Rs 896.23 crore. Effective tax rate was 5.47% compared to 24.92%. Minority interest increased 49.03% to Rs -1.32 crore. Other developments The Board has recommended Final Dividend @ 20% (Rs. 0.40 per share) on the paid up share capital of the Company for FY 2021-22. Final Dividend, if declared by the company in the Annual General Meeting shall be paid/ dispatched within 30 days from the date of Annual General Meeting. Equity capital stood at Rs 696.41 crore as of 31 March 2022 to Rs 696.41 crore as of 31 March 2021. Per share face Value remained same at Rs 2.00. Promoters’ stake was 63.17% as of 31 March 2022 ,compared to 63.17% as of 31 March 2021 . Loan funds declined from Rs 4,950.89 crore as of 31 March 2021 to Rs 4,829.93 crore as of 31 March 2022. Inventories declined from Rs 7,194.45 crore as of 31 March 2021 to Rs 6,560.21 crore as of 31 March 2022. Sundry debtors were lower at Rs 3,024.75 crore as of 31 March 2022 compared to Rs 4,035.07 crore as of 31 March 2021. Cash and bank balance rose to Rs 7,153.69 crore as of 31 March 2022 from Rs 6,701.45 crore as of 31 March 2021. Investments rose to Rs 205.15 crore as of 31 March 2022 from Rs 185.34 crore as of 31 March 2021 . Fixed assets declined from Rs 2,832.19 crore as of 31 March 2021 to Rs 2,758.66 crore as of 31 March 2022. Intangible assets declined from Rs 78.51 crore to Rs 70.78 crore. Cash flow from operating activities increased to Rs 660.25 crore for year ended March 2022 from Rs 561.60 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 169.38 crore, compared to Rs 250.35 crore during the year ended March 2021.
| Bharat Heavy Electricals : Consolidated Results | | | Quarter ended | Year ended |
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| Particulars | 202203 | 202103 | Var.(%) | 202203 | 202103 | Var.(%) |
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| Net Sales (including other operating income) | 8,061.68 | 7,170.47 | 12.43 | 21,211.09 | 17,308.69 | 22.55 | | OPM (%) | 14.29 | -17.69 | 3,198 bps | 3.47 | -18.15 | 2,162 bps | | OP | 1,151.90 | -1,268.40 | LP | 735.58 | -3,141.29 | LP | | Other Inc. | 120.04 | 74.69 | 60.72 | 354.54 | 348.42 | 1.76 | | PBIDT | 1,271.94 | -1,193.71 | LP | 1,090.12 | -2,792.87 | LP | | Interest | 95.56 | 78.83 | 21.22 | 355.96 | 373.95 | -4.81 | | PBDT | 1,176.38 | -1,272.54 | LP | 734.16 | -3,166.82 | LP | | Depreciation | 85.95 | 126.58 | -32.10 | 314.12 | 473.25 | -33.62 | | PBT | 1,090.43 | -1,399.12 | LP | 420.04 | -3640.07 | LP | | Share of Profit/(Loss) from Associates | 11.33 | 9.14 | 23.96 | 50.42 | 44.14 | 14.23 | | PBT before EO | 1101.76 | -1389.98 | LP | 470.46 | -3595.93 | LP | | EO Income | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 1101.76 | -1389.98 | LP | 470.46 | -3595.93 | LP | | Taxation | 189.29 | -353.66 | PL | 25.75 | -896.23 | PL | | PAT | 912.47 | -1036.32 | LP | 444.71 | -2699.7 | LP | | Minority Interest (MI) | 0 | -1.5 | - | -1.32 | -2.59 | 49.03 | | Net profit | 912.47 | -1034.82 | LP | 446.03 | -2697.11 | LP | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 912.47 | -1034.82 | LP | 446.03 | -2697.11 | LP | | EPS (Rs)* | 2.62 | -2.97 | LP | 1.28 | -7.75 | LP | | | * EPS is on current equity of Rs 696.41 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 |
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