For the quarter ending Sept2022, standalone net sales (including other operating income) of Bharat Seats has increased 52.32% to Rs 290.75 crore compared to quarter ended sept 2021. Operating profit margin has jumped from 3.27% to 4.11%, leading to 91.04% rise in operating profit to Rs 11.94 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 85.86% to 86.33%. Employee cost decreased from 4.59% to 3.45%. Other expenses fell from 6.19% to 6.09%. Other income fell 32.17% to Rs 0.97 crore. PBIDT rose 68.10% to Rs 12.91 crore. Provision for interest fell 16.16% to Rs 0.83 crore. Loan funds declined from Rs 63.29 crore as of 30 September 2021 to Rs 34.27 crore as of 30 September 2022. Inventories rose to Rs 38.65 crore as of 30 September 2022 from Rs 30.48 crore as of 30 September 2021. Sundry debtors were higher at Rs 105.51 crore as of 30 September 2022 compared to Rs 60.95 crore as of 30 September 2021. Cash and bank balance rose to Rs 3.85 crore as of 30 September 2022 from Rs 1.33 crore as of 30 September 2021.
PBDT rose 80.57% to Rs 12.08 crore. Provision for depreciation down 4.97% to Rs 4.21 crore. Fixed assets increased to Rs 177.68 crore as of 30 September 2022 from Rs 158.69 crore as of 30 September 2021. Intangible assets declined from Rs 0.98 crore to Rs 0.85 crore.
Profit before tax grew 248.23% to Rs 7.87 crore. Provision for tax was expense of Rs 2 crore, compared to Rs 0.57 crore. Effective tax rate was 25.41% compared to 25.22%.
Profit after tax rose 247.34% to Rs 5.87 crore.
Equity capital stood at Rs 6.28 crore as of 30 September 2022 to Rs 6.28 crore as of 30 September 2021. Per share face Value remained same at Rs 2.00.
Promoters' stake was 74.59% as of 30 September 2022 ,compared to 74.59% as of 30 September 2021 .
For year-to-date (YTD) results analysis
Net sales (including other operating income) of Bharat Seats has increased 49.93% to Rs 538.44 crore.
Operating profit margin has jumped from 2.91% to 3.98%, leading to 105.17% rise in operating profit to Rs 21.44 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 85.50% to 86.52%. Employee cost decreased from 4.78% to 3.79%. Other expenses fell from 6.75% to 5.71%. Other income fell 59.88% to Rs 1.3 crore. PBIDT rose 66.11% to Rs 22.74 crore. Provision for interest fell 16.30% to Rs 1.54 crore. Loan funds declined from Rs 63.29 crore as of 30 September 2021 to Rs 34.27 crore as of 30 September 2022. Inventories rose to Rs 38.65 crore as of 30 September 2022 from Rs 30.48 crore as of 30 September 2021. Sundry debtors were higher at Rs 105.51 crore as of 30 September 2022 compared to Rs 60.95 crore as of 30 September 2021. Cash and bank balance rose to Rs 3.85 crore as of 30 September 2022 from Rs 1.33 crore as of 30 September 2021.
PBDT rose 78.90% to Rs 21.2 crore. Provision for depreciation down 3.93% to Rs 8.55 crore. Fixed assets increased to Rs 177.68 crore as of 30 September 2022 from Rs 158.69 crore as of 30 September 2021. Intangible assets declined from Rs 0.98 crore to Rs 0.85 crore. Profit before tax grew 328.81% to Rs 12.65 crore. Provision for tax was expense of Rs 3.22 crore, compared to Rs 0.83 crore. Effective tax rate was 25.45% compared to 28.14%.Profit after tax rose 344.81% to Rs 9.43 crore. Equity capital stood at Rs 6.28 crore as of 30 September 2022 to Rs 6.28 crore as of 30 September 2021. Per share face Value remained same at Rs 2.00.
Promoters' stake was 74.59% as of 30 September 2022 ,compared to 74.59% as of 30 September 2021 .
Full year results analysis
Net sales (including other operating income) of Bharat Seats has increased 49.30% to Rs 817.63 crore. Operating profit margin has declined from 4.90% to 3.93%, leading to 19.74% rise in operating profit to Rs 32.15 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 81.37% to 85.37%. Purchase of finished goods cost fell from 0.16% to 0.03%. Employee cost decreased from 4.45% to 4.36%. Other expenses fell from 9.14% to 6.29%. Other income up 157.07% to Rs 5.27 crore. PBIDT rose 29.48% to Rs 37.42 crore. Provision for interest fell 8.67% to Rs 3.9 crore. Loan funds rose to Rs 38.93 crore as of 31 March 2022 from Rs 35.15 crore as of 31 March 2021. Inventories rose to Rs 52.99 crore as of 31 March 2022 from Rs 29.70 crore as of 31 March 2021. Sundry debtors were higher at Rs 110.72 crore as of 31 March 2022 compared to Rs 82.60 crore as of 31 March 2021. Cash and bank balance declined from Rs 1.15 crore as of 31 March 2021 to Rs 1.13 crore as of 31 March 2022.
PBDT rose 36.09% to Rs 33.52 crore. Provision for depreciation down 2.06% to Rs 17.61 crore. Fixed assets declined from Rs 155.23 crore as of 31 March 2021 to Rs 153.84 crore as of 31 March 2022. Intangible assets increased from Rs 0.93 crore to Rs 1.06 crore.
Profit before tax grew 139.25% to Rs 15.91 crore. Provision for tax was expense of Rs 4 crore, compared to Rs 1.84 crore. Effective tax rate was 25.14% compared to 27.67%.
Profit after tax rose 147.61% to Rs 11.91 crore.
Equity capital stood at Rs 6.28 crore as of 30 September 2022 to Rs 6.28 crore as of 30 September 2021. Per share face Value remained same at Rs 2.00.
Promoters' stake was 74.59% as of 31 March 2022 ,compared to 74.59% as of 31 March 2021 .
Cash flow from operating activities decreased to Rs 15.62 crore for year ended March 2022 from Rs 18.75 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 17.21 crore, compared to Rs 18.90 crore during the year ended March 2021.
| Bharat Seats : Standalone Results |
| Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202209 | 202109 | Var.(%) | 202209 | 202109 | Var.(%) | 202203 | 202103 | Var.(%) |
|---|
| Net Sales (including other operating income) | 290.75 | 190.88 | 52.32 | 538.44 | 359.12 | 49.93 | 817.63 | 547.66 | 49.30 | | OPM (%) | 4.11 | 3.27 | 83 bps | 3.98 | 2.91 | 107 bps | 3.93 | 4.90 | -97 bps | | OP | 11.94 | 6.25 | 91.04 | 21.44 | 10.45 | 105.17 | 32.15 | 26.85 | 19.74 | | Other Inc. | 0.97 | 1.43 | -32.17 | 1.30 | 3.24 | -59.88 | 5.27 | 2.05 | 157.07 | | PBIDT | 12.91 | 7.68 | 68.10 | 22.74 | 13.69 | 66.11 | 37.42 | 28.90 | 29.48 | | Interest | 0.83 | 0.99 | -16.16 | 1.54 | 1.84 | -16.30 | 3.9 | 4.27 | -8.67 | | PBDT | 12.08 | 6.69 | 80.57 | 21.20 | 11.85 | 78.90 | 33.52 | 24.63 | 36.09 | | Depreciation | 4.21 | 4.43 | -4.97 | 8.55 | 8.9 | -3.93 | 17.61 | 17.98 | -2.06 | | PBT | 7.87 | 2.26 | 248.23 | 12.65 | 2.95 | 328.81 | 15.91 | 6.65 | 139.25 | | PBT before EO | 7.87 | 2.26 | 248.23 | 12.65 | 2.95 | 328.81 | 15.91 | 6.65 | 139.25 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 7.87 | 2.26 | 248.23 | 12.65 | 2.95 | 328.81 | 15.91 | 6.65 | 139.25 | | Taxation | 2 | 0.57 | 250.88 | 3.22 | 0.83 | 287.95 | 4 | 1.84 | 117.39 | | PAT | 5.87 | 1.69 | 247.34 | 9.43 | 2.12 | 344.81 | 11.91 | 4.81 | 147.61 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 5.87 | 1.69 | 247.34 | 9.43 | 2.12 | 344.81 | 11.91 | 4.81 | 147.61 | | EPS (Rs)* | 1.87 | 0.54 | 247.34 | 3.00 | 0.68 | 344.81 | 3.79 | 1.53 | 147.61 | | | * EPS is on current equity of Rs 6.28 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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