1803 (3) 1703 (3) Var % 1803 (12) 1703 (12) Var % Income from Operations 2215.95 2061.89 7 8189.50 7644.75 7 OPM (%) 15.2 10.8   16.1 12.2   Operating Profit 337.49 223.53 51 1321.08 930.31 42 Other income 20.21 28.45 -29 83.47 74.38 12 PBIDT 357.70 251.98 42 1404.55 1004.69 40 Interest 105.95 119.71 -11 451.69 550.75 -18 PBDT 251.75 132.27 90 952.86 453.94 110 Depreciation 79.05 84.93 -7 313.75 313.34 0 PBT /LBT 172.70 47.34 265 639.11 140.60 355 Taxation 64.00 5.25   230.65 16.71   PAT/LAT 108.70 42.09 158 408.46 123.89 230 EPS (Rs)* # #   36.6 11.1   * EPS calculated on current equity of Rs 111.69 crore. Face Value: Rs 10 each
# EPS Not Calculated As it Is a Seasonal Business
# not annualized as the cement business is seasonal in nature
Var % exceeding 999 is truncated to 999
LP: Loss to Profit PL: Profit to Loss
EO: Extraordinary items
EPS is calculated after excluding EO and relevant tax
Figures in Rs crore
Source: Capitaline Corporate Databases

Century Textiles & Industries: Segment Results

 

 

  1803 (3) 1703 (3) Var (%) % to Total 1803 (12) 1703 (12) Var (%) % to Total
Segment Revenue        
Textiles 245.96 399.09 -38 12 1396.25 1540.77 -9 17
Cement 1207.26 1217.77 -1 58 4306.15 4323.92 0 53
Pulp and Paper 585.4 554.06 6 28 2228.84 2171.16 3 27
Real Estate 36.99 28.33 31 2 135.23 97.18 39 2
Others 14.2 29.34 -52 1 97.15 118.71 -18 1
Total Revenue 2089.81 2228.59 -6 100 8163.62 8251.74 -1 100
Less: Inter Segment Revenue 2.53 23.03 -89   71.48 91.26 -22  
Gross sales 2087.28 2205.56 -5   8092.14 8160.48 -1  
Add: Sales from discounting operations (Textiles segment) 0.00 55.93 -100   86.78 252.9    
Total Sales (Continuing & decounting operations) 2087.28 2261.49 -8   8178.92 8413.38    
Segment Results (Profit before Finance Cost & Taxes)        
Textiles 20.61 30.81 -33 7 151.54 176.57 -14 14
Cement 66.34 63.95 4 24 408.75 165.68 147 38
Pulp and Paper 100.63 51.68 95 36 372.60 306.68 21 35
Real Estate 91.11 10.89 737 32 132.16 18.36 620 12
Others 1.91 4.61 -59 1 13.21 15.57 -15 1
Sub-total 280.6 161.94 73 100 1078.26 682.86 58 100
Add/Less: Inter Segment Profit/Loss 2.66 -0.19     3.80 -1.7    
Total 283.26 161.75 75   1082.06 681.16 59  
Finance Costs 105.95 119.71 -11   451.69 550.75 -18  
Other Unallocated expenditure / (Income) 4.61 -5.3 -187   -8.74 -10.19 -14  
Profit before Tax (continuing operations) 172.70 47.34 265   639.11 140.60 355  
(Loss) from discontinued operations (Textiles segment),including(loss) on measurement to net realisable value 0.00 -8.26     -49.45 -28.90    
Total Profit Before Tax 172.70 39.08 342   589.66 111.70 428  
Capital Employed                
Textiles -79.96 835.02 -110 -3 -79.96 835.02 0 -3
Cement 2841.33 2890.48 -2 103 2841.33 2890.48 0 103
Pulp and Paper 2600.38 2802.46 -7 95 2600.38 2802.46 0 95
Real Estate 1335.4 1323.17 1 49 1335.4 1323.17 0  
Others 25.45 36.35 -30 1 25.45 36.35 0 1
Unallocated assets less liabilities -3974.71 -5466.26 -27 -145 -3974.71 -5466.26 0  
Textile (Discounting operations) 0 60.64   0 0 60.64 0  
Total Capital Employed in Segments 2747.89 2481.86 11 100 2747.89 2481.86 11 100
Figures in Rs crore
Source: Capitaline Databases
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Century Textiles & Industries, a BK Birla Group Company, clocked 112% surge in net profit to Rs 160.10 crore for the second quarter ended September 2018, on the back of 15% gain in total income from operation to Rs 2,088.89 crore. OPM increased by 240 bps to 18.1% chiefly due to drop in employee expenses and power & fuel costs as percentage to sales. Thus, OP grew by 32% to Rs 377.24 crore.

Performance for the quarter ended September 2018

Net sales revenue (includes cement, pulp & paper and textiles segment revenue) of the company was up 15% to Rs 2,088.89 crore for the second quarter ended September 2018.

The revenue growth from cement segment (contributes 50% of total revenue) inclined by 17% to Rs 977.01 crore, Textile segment revenue (contributes 12% of total revenue) fell 38% to Rs 238.79 crore. Pulp & paper segment (contributes 35% of total revenue) grew 28% to Rs 690.66 crore. The revenue from real estate division (contributes 2% of total revenue) grew 22% to Rs 40.38 crore.

The operating margins (OPM) expanded by 240 bps to 18.1%. The expansion in OPM was due to drop in employee expenses cost by 240 bps to 6.7% and power & fuel cost by 70 bps to 19% as percentage to sales and net of stock adjustments, partially offset by gains in and freight & forwarding cost by 140 bps to 16% and raw material cost by 90 bps to 30.3% as of adjusted net sales during the period. As a result, the operating profit (OP) was up 32% at Rs 377.24 crore.

The other income declined 5% to Rs 21.83 crore. With drop in interest cost by 25% to Rs 90 crore and fall in depreciation cost by 2% to Rs 77.77 crore, the PBT, as a result, grew by 110% to Rs 231.30 crore. With net taxation of Rs 71.20 crore, the company's posted a net profit growth of 112% to Rs 160.10 crore.

Half yearly performance

For six month ended September 2018, Net sales revenue for the period was up 10% to Rs 4277.10 crore. OPM expanded by 230 bps to 19%. Thus, the operating profit inclined by 25% at Rs 811.25 crore. Other income decreased by 7% to Rs 43 crore, thus, PBIDT inclined 23% to Rs 854.35 crore. With decline in interest cost by 19% to Rs 189.92 crore and drop in depreciation allowance cost by 1% to Rs 155.60 crore, the PBT, as a result, gained 68% to Rs 508.83 crore.

After accounting a net taxation of Rs 167.20, the company posted a net profit of Rs 341.63 crore, registering a surge of 69% from net profit of Rs 202.40 in the same period last fiscal.

Annual Financial Performance

For the financial year ended March 2018 (FY 2018), Net sales revenue increased by 7% to Rs 8,189.50 crore. The revenue growth from cement segment (contributes 53% of total revenue) was flat at Rs 4,306.15 crore and Textile segment revenue (contributes 17% of total revenue) fell 9% to Rs 1,396.25 crore. Pulp & paper segment (contributes 27% of total revenue) grew 3% to Rs 2,228.84 crore. The revenue from real estate division (contributes 2% of total revenue) grew 39% to Rs 135.23 crore.

OPM expanded by 400 bps to 16.1%. Thus, the OP inclined by 42% at Rs 1,321.08 crore. Other income increased 12% to Rs 83.47 crore, thus, PBIDT inclined 40% to Rs 1,404.55 crore. With decline in interest cost by 18% to Rs 451.69 crore and flat depreciation cost at Rs 313.75 crore, the PBT, as a result, gained by 355% to Rs 639.11 crore.

After accounting a net taxation of Rs 230.65, the company posted a net profit of Rs 408.46 crore, registering a surge of 230% from net profit of Rs 123.89 in the last fiscal.

The scrip is currently trading at Rs 804.35 (29 October 2018) on the BSE.

Century Textiles &Industries: Results

 

 

  1809 (3) 1709 (3) Var % 1809 (6) 1709 (6) Var % 1803 (12) 1703 (12) Var %
Income from Operations 2088.89 1821.69 15 4277.10 3898.75 10 8189.50 7644.75 7
OPM (%) 18.1 15.7   19.0 16.7   16.1 12.2  
Operating Profit 377.24 286.18 32 811.35 649.83 25 1321.08 930.31 42
Other income 21.83 22.88 -5 43.00 46.08 -7 83.47 74.38 12
PBIDT 399.07 309.06 29 854.35 695.91 23 1404.55 1004.69 40
Interest 90.00 119.30 -25 189.92 235.86 -19 451.69 550.75 -18
PBDT 309.07 189.76 63 664.43 460.05 44 952.86 453.94 110
Depreciation 77.77 79.72 -2 155.60 156.53 -1 313.75 313.34 0
PBT /LBT 231.30 110.04 110 508.83 303.52 68 639.11 140.60 355
Taxation 71.20 34.50   167.20 101.12   230.65 16.71  
PAT/LAT 160.10 75.54 112 341.63 202.40 69 408.46 123.89 230
EPS (Rs)* # #   # #   36.6 11.1  
* EPS calculated on current equity of Rs 111.69 crore. Face Value: Rs 10 each
# EPS Not Calculated As it Is a Seasonal Business
# not annualized as the cement business is seasonal in nature
Var % exceeding 999 is truncated to 999
LP: Loss to Profit PL: Profit to Loss
EO: Extraordinary items
EPS is calculated after excluding EO and relevant tax
Figures in Rs crore
Source: Capitaline Corporate Databases

Century Textiles & Industries: Segment Results

 

 

  1809 (3) 1709 (3) Var (%) % to Total 1809 (6) 1709 (6) Var (%) % to Total 1803 (12) 1703 (12) Var (%) % to Total
Segment Revenue                
Textiles 238.79 384.13 -38 12 438.25 765.12 -43 11 1396.25 1540.77 -9 17
Cement 977.01 836.14 17 50 2172.28 2099.85 3 54 4306.15 4323.92 0 53
Pulp and Paper 690.66 539.59 28 35 1322.77 1065.27 24 33 2228.84 2171.16 3 27
Real Estate 40.38 33.14 22 2 79.33 63.95 24 2 135.23 97.18 39 2
Others 3.85 24.18 -84 0 8.03 54.17 -85 0 97.15 118.71 -18 1
Total Revenue 1950.69 1817.18 7 100 4020.66 4048.36 -1 100 8163.62 8251.74 -1 100
Less: Inter Segment Revenue 0.92 25.65 -96   1.28 47.29 -97   71.48 91.26 -22  
Gross sales 1949.77 1791.53 9   4019.38 4001.07 0   8092.14 8160.48 -1  
Add: Sales from discounting operations (Textiles segment) 0.00 39.14 -100   0.00 79.99 -100   86.78 252.9    
Total Sales (Continuing & decounting operations) 1949.77 1830.67 7   4019.38 4081.06 -2   8178.92 8413.38    
Segment Results (Profit before Finance Cost & Taxes)                
Textiles 22.02 50.89 -57 7 41.79 87.76 -52 6 151.54 176.57 -14 14
Cement 83.50 48.88 71 26 231.25 218.98 6 33 408.75 165.68 147 38
Pulp and Paper 121.02 104.88 15 37 240.37 192.94 25 34 372.60 306.68 21 35
Real Estate 98.14 18.13 441 30 186.57 29.54 532 27 132.16 18.36 620 12
Others 1.07 5.33 -80 0 2.17 9.02 -76 0 13.21 15.57 -15 1
Sub-total 325.75 228.11 43 100 702.15 538.24 30 100 1078.26 682.86 58 100
Add/Less: Inter Segment Profit/Loss 0 0.02     0.00 -0.50     3.80 -1.7    
Total 325.75 228.13 43   702.15 537.74 31   1082.06 681.16 59  
Finance Costs 90 119.3 -25   189.92 235.86 -19   451.69 550.75 -18  
Other Unallocated expenditure / (Income) 4.45 -1.21 -468   3.40 -1.74 -295   -8.74 -10.19 -14  
Profit before Tax (continuing operations) 231.30 110.04 110   508.83 303.62 68   639.11 140.60 355  
(Loss) from discontinued operations (Textiles segment),including(loss) on measurement to net realisable value -5.63 -28.22     -34.50 -38.50     -49.45 -28.90    
Total Profit Before Tax 225.67 81.82 176   474.33 265.12 79   589.66 111.70 428  
Capital Employed                        
Textiles -67.88 866.83 -108 -2 -67.88 866.83 -108 -2 -79.96 835.02 0 -3
Cement 3024.21 2897.09 4 104 3024.21 2897.09 4 104 2841.33 2890.48 0 103
Pulp and Paper 2585.21 2671.73 -3 88 2585.21 2671.73 -3 88 2600.38 2802.46 0 95
Real Estate 1377.63 1329.77 4 47 1377.63 1329.77 4 47 1335.4 1323.17 0  
Others 26.26 43.89 -40 1 26.26 43.89 -40 1 25.45 36.35 0 1
Unallocated assets less liabilities -4001.74 -5256.75 -24 -137 -4001.74 -5256.75 -24 -137 -3974.71 -5466.26 0  
Textile (Discounting operations) -22.12 -2.3     -22.12 -2.3   -1 0 60.64 0  
Total Capital Employed in Segments 2921.57 2550.26 15 101 2921.57 2550.26 15 100 2747.89 2481.86 11 100
Figures in Rs crore
Source: Capitaline Databases

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