Equity

Corporate Results

Power Mech Projects
(01-Mar-2017, 14:46 Hours IST)  
Power Mech Projects has registered 14% fall in sales to Rs 304.85 crore for the quarter ended December 2016. Lower sales together with 70 bps contraction in operating profit margin has resulted in 19% fall in operating profit to 38.96 crore. After accounting for higher other income, flat interest cost and higher depreciation, the PBT was down by 28% to Rs 22.75 crore. Taxation was lower by 31% to Rs 7.94 crore and thus the PAT was down by 27% to Rs 14.81 crore. Further with other comprehensive income stand nil compared to Rs 0.10 crore in corresponding previous period, the total comprehensive income was down by 27% to Rs 14.81 crore.
  • The operational sales (excluding other operational sales) were down by 14% to Rs 303.63 crore. But the value of production for the quarter was lower by 14% to Rs 305.46 crore. Sale for the quarter is 0.6% lower than value of production for the period. In comparison the sales for corresponding previous period was 0.1% higher than respective value of production reflecting marginal inventory built up in the quarter.
  • Operating profit margin was down by 70 bps to 12.8% as all cost heads barring contract expense witness an increase. Material cost as % of sales net of stocks was down by 360 bps to 8.6%. The staff cost was up by 670 bps to 17.5%. The OE was up by marginal 20 bps to 2.2%. The contract expense though was down by sharp 970 bps to 59% that could not fully offset the rise in other cost heads.
  • Other income jumped up by 7% to Rs 1.56 crore. The interest cost was flat at Rs 8.14 crore. The depreciation was up by marginal 2% to Rs 9.63 crore. Thus the PBT was down by 28% to Rs 22.75 crore.
  • As taxation stand lower by 31% to Rs 7.94 crore and thus the PAT was down by 27% to Rs 14.81 crore.

Nine month Performance

Sale for the period was down by 3% to Rs 947.26 crore. However the operating profit margin stood contracted by 40 bps to 13% and thus the operating profit was down by 6% to Rs 123.16 crore. After accounting for higher other income, higher interest and higher depreciation, the PBT was down by 12% to Rs 73.23 crore. The taxation was down by 13% to Rs 25.55 crore and the PAT was down by 12% to Rs 47.68 crore. Further with other comprehensive income stand nil compared to Rs 0.26 crore in corresponding previous period, the total comprehensive income was down by 12% to Rs 47.68 crore.

The stock quotes around Rs 449.95.

Power Mech Projects: Results

 

1612 (3)1512 (3)Var. (%)1612 (9)1512 (9)Var. (%)
Sales304.85354.80-14947.26973.62-3
OPM (%)12.813.513.013.4
OP38.9647.90-19123.16130.74-6
Other inc.1.561.4574.484.099
PBIDT40.5149.35-18127.64134.83-5
Interest8.148.15024.1223.781
PBDT32.3741.20-21103.52111.05-7
Dep.9.639.44230.2927.5910
PBT 22.7531.76-2873.2383.46-12
EO Exp0.000.000.000.00
PBT22.7531.76-2873.2383.46-12
Provn for taxation7.9411.51-3125.5529.25-13
PAT14.8120.25-2747.6854.22-12
PPA0.000.000.000.00
Net Profit14.8120.25-2747.6854.22-12
Other comprehensive income (net of tax)0.000.10-1010.000.26-99
Total comprehensive income 14.8120.35-2747.6854.48-12
EPS (Rs)*####
* EPS is on current equity (post bonus) of Rs 14.7108 crore, Face value of Rs 10
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database

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