1812(03) 1712(03) Var. (%) 1812(09) 1712(09) Var. (%) 1803 (12) 1703 (12) Var. (%) Sales 197.78 191.19 3 546.74 516.22 6 700.71 651.71 8 OPM (%) 14.5% 10.3%   11.3% 8.4%   9.1% 7.7%   OP 28.63 19.64 46 61.66 43.16 43 63.51 50.45 26 Other income 0.50 0.33 52 2.05 3.08 -33 4.93 2.28 116 PBIDT 29.13 19.97 46 63.71 46.24 38 68.44 52.73 30 Interest 4.06 5.27 -23 12.61 13.67 -8 17.54 12.80 37 PBDT 25.07 14.70 71 51.10 32.57 57 50.90 39.93 27 Depreciation 4.00 3.00 33 10.50 9.00 17 14.72 11.79 25 PBT 21.07 11.70 80 40.60 23.57 72 36.18 28.14 29 EO 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0 PBT after EO 21.07 11.70 80 40.60 23.57 72 36.18 28.14 29 Tax 6.55 3.30 98 13.00 6.85 90 13.15 9.15 44 PAT 14.52 8.40 73 27.60 16.72 65 23.03 18.99 21 EPS (Rs)* # #   # #   31.2 25.7   * Annualised on current equity of Rs 7.38 crore of face value of Rs 10 each
Figures in crore
Source : Capitaline Database " />
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Net sales were up by 3% to Rs 197.78 crore for Dec 18 quarter. OPM was up by 420 bps to 14.5% resulting in a 46% improvement in OP to Rs 28.63 crore. Other income was up by 52% to Rs 0.50 crore. Interest cost was down by 23% to Rs 4.06 crore and depreciation was up by 33% to Rs 4 crore. Thus PBT was higher by 80% to Rs 21.07 crore. After providing total tax of Rs 6.55 crore, PAT for Dec 18 quarter was up by 73% to Rs 14.52 crore.

Performance for 9 months ended Dec 18

For 9 months ended Dec 18, net sales were up by 6% to Rs 546.74 crore. OPM was up by 290 bps to 11.3% resulting in a 43% increase in OP to Rs 61.66 crore. Other income was down by 33% to Rs 2.05 crore. Interest cost was down by 8% and depreciation was up by 17% and stood at Rs 12.61 crore and Rs 10.50 crore respectively. This resulted in a PBT growth of 72% to Rs 40.60 crore. After providing total tax of Rs 13 crore up by 90% YoY, PAT grew by 65% to Rs 27.60 crore.

During this period, the company strengthened its presence in key markets in the western/Eastern/Southern states of India.

Total Long Term borrowings stood at just Rs.76.57crores as on 31.12.2018 with a very low debt equity ratio of less than 0.30

In this 75th year of its corporate existence and encouraged by excellent results and sound financial position, the Board of Directors of the company at its meeting held on the 6thFebruary, 2019have recommended, subject to the approval of shareholders in EGM and other regulatory approvals (if any), the issue of Bonus shares to the shareholders of the company in proportion of 1:1 i.e. One (1) Bonus share for every One (1) existing equity share held by them. Further the Board has declared an interim dividend @75% (i.e. 7.50/-per equity share of face value of Rs. 10/-each) in the 75thyear (Diamond Jubilee Year) of the corporate existence of the company.

Commenting on the results, Mr. I K Sardana , Managing Director, Sukhjit Starch & Chemicals Limited said, 2019 is a very special year for the company as in this 75th year of its corporate existence(the Diamond Jubilee year).The company has decided to further share the prosperity of company's growth with its shareholders.

The company has been continuously rewarding its shareholders in the past by way of periodic bonus issues and uninterrupted dividends at handsome rates for over 4 decades. The philosophy of Sukhjit to grow and reward the shareholders will also continue in years to come. The Board and employees are grateful to its shareholders for their continues confidence and trust in SUKHJIT management.

He further added

SUKHJIT WILL CONTINUE TO LEAD BY DEEDS AND NOT BY WORDS. The upcoming 600 TPD Maize processing unit in the state of Punjab is likely to be commissioned by Q2 & the regular production to commence in Q3 of FY 20. The Prestigious project of Mega Food Park being set up by the company through its wholly owned subsidiary, in the state of Punjab is also likely to commission in the second half of FY 20.With feedback from marketing and R & D teams, shareholders will be pleased to learn that the company is planning another expansion next year, which may take the total capacity of Sukhjit to 2500 TPD by FY 2021.

The same will be done through internal accruals / debt funds. Sukhjit is committed to improve the quality of human life by enabling people to do more, feel better and confident. Currently, the key users of our products are food, FMCG, pharma and paper industry, which are also doing well. Keeping in view our goal to become one of the world's most innovative, best performing and most trusted supplier, Sukhjit is evolving commercial operating model to reinvest resources on key products and R & D development in the coming years.

Sukhjit Starch & Chemicals : Standalone Result

 

 

  1812(03) 1712(03) Var. (%) 1812(09) 1712(09) Var. (%) 1803 (12) 1703 (12) Var. (%)
Sales 197.78 191.19 3 546.74 516.22 6 700.71 651.71 8
OPM (%) 14.5% 10.3%   11.3% 8.4%   9.1% 7.7%  
OP 28.63 19.64 46 61.66 43.16 43 63.51 50.45 26
Other income 0.50 0.33 52 2.05 3.08 -33 4.93 2.28 116
PBIDT 29.13 19.97 46 63.71 46.24 38 68.44 52.73 30
Interest 4.06 5.27 -23 12.61 13.67 -8 17.54 12.80 37
PBDT 25.07 14.70 71 51.10 32.57 57 50.90 39.93 27
Depreciation 4.00 3.00 33 10.50 9.00 17 14.72 11.79 25
PBT 21.07 11.70 80 40.60 23.57 72 36.18 28.14 29
EO 0.00 0.00 0 0.00 0.00 0 0.00 0.00 0
PBT after EO 21.07 11.70 80 40.60 23.57 72 36.18 28.14 29
Tax 6.55 3.30 98 13.00 6.85 90 13.15 9.15 44
PAT 14.52 8.40 73 27.60 16.72 65 23.03 18.99 21
EPS (Rs)* # #   # #   31.2 25.7  
* Annualised on current equity of Rs 7.38 crore of face value of Rs 10 each
Figures in crore
Source : Capitaline Database

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