AIA Engineering has registered 27% growth in its consolidated sales for the quarter ended Dec 2018 to Rs 726.44 crore. Higher sales together with 50 bps expansion in operating profit margin (OPM) facilitated 30% growth at operating profit to Rs 165.23 crore. After accounting for lower other income and lower depreciation (as %of OP) the growth at PBT was restricted at 22% to Rs 170.53 even while the interest cost (as %of OP) marginally stand lower. Hit further by higher taxation, the PAT was up by 11% to Rs 129.22 crore. With non controlling interest (NCI) stand lower by 28% to Rs 0.27 crore the net profit before OCI was up by 11% to Rs 128.96 crore. As other comprehensive expense (OCI) jump by 178% to Rs 38.55 crore, the total comprehensive income was down by 12% to Rs 90.41 crore. But for higher taxation and higher other comprehensive expenses the bottom-line would have registered a growth.
Nine month performance
Sales was up by 28% to Rs 2182.28 crore but with 20 bps contraction in OPM, the operating profit was up by 27% (to Rs 468.62 crore). After accounting for higher other income, higher interest (as proportion to OP) and lower depreciation (as proportion to OP) the PBT was up by 31% to Rs 504.15 crore. The taxation was up by 58% to Rs 148.61 crore and thus the PAT was up by 22% to Rs 355.54 crore. Eventually the total comprehensive income was up by 21% to Rs 335.13 crore after accounting for lower NCI (down 27% to Rs 0.52 crore) and higher other comprehensive expenses (up 39% to Rs 19.89 crore).
Order book at the start of Jan 1, 2018 was Rs 668 crore.
Total capital outlay for Grinding Media, Mill Liners and Wind Turbine will be Rs 800 crore in which Rs 336 crore during F.Y. 2018-19 & remaining during F.Y. 2019-20. Capex incurred till nine months-FY 2019: Rs 156 crore.
AIA Engineering: Consolidated Results
|1812 (3)||1712 (3)||Var. (%)||1812 (9)||1712 (9)||Var. (%)||1803 (12)||1703 (12)||Var. (%)|
|JV/Associate Profit/Loss Share||0.00||0.00||0.00||0.00||0.00||0.00|
|PBT after JV/Associate P/L Share||170.53||140.01||22||504.15||385.75||31||585.01||662.04||-12|
|EO (net of tax)||0.00||0.00||0.00||0.00||0.00||0.00|
|Net profit before NCI||129.22||116.53||11||355.54||291.87||22||443.62||457.21||-3|
|Non Controlling Interest (NCI)||0.27||0.37||-28||0.52||0.72||-27||0.27||0.44||-39|
|Other Comprehensive Income (net of tax)- attributable to owners||-38.55||-13.85||178||-19.89||-14.34||39||-20.65||-17.86||16|
|Total Comprehensive Income (net of tax) - Owners of the company||90.41||102.31||-12||335.13||276.81||21||422.70||438.91||-4|
|* Annualised on current equity of Rs 18.8641 crore, Face value of Rs 2
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database