1803 (3) 1703 (3) Var. (%) 1803 (12) 1703 (12) Var. (%) Sales 1037.48 1131.74 -8 3457.28 3207.91 8 OPM (%) 9.6 11.7   8.4 9.2   OP 100.02 132.33 -24 291.76 296.62 -2 Other income 2.62 0.33 694 5.65 11.23 -50 PBIDT 97.40 132.00 -26 297.41 307.85 -3 Interest 15.83 16.05 -1 57.68 52.58 10 PBDT 81.57 115.95 -30 239.73 255.27 -6 Dep. 4.53 5.17 -12 17.84 19.11 -7 PBT 77.04 110.78 -30 221.89 236.16 -6 EO 0.00 0.00   0.00 0.00 ! PBT after EO 77.04 110.78 -30 221.89 236.16 -6 Tax 14.53 32.64 -55 77.40 66.66 16 PAT 62.51 78.14 -20 144.49 169.50 -15 Share of profit from Ass & Minority Interest 0.91 1.34 -32 2.56 -57.26 -104 Minority Interest 3.77 3.75 1 15.54 9.84 58 Net profit 59.65 75.73 -21 131.51 102.40 28 EPS (Rs)* # #   24.1 18.7   * EPS on current equity capital of Rs 10.93 crore; Face Value: Rs 2
Figures in Rs crore LP: Loss to Profit
Source: Capitaline Database

Va Tech Wabag: Consolidated segment results

 

 

Segments 1803 (3) 1703 (3) Var. (%) % to Total 1803 (12) 1703 (12) Var. (%) % to Total
Sales                
India 264.07 453.87 -42 26 945.95 1170.80 -19 27
Rest of the World 770.86 737.20 5 74 2592.56 2156.12 20 73
TOTAL 1034.93 1191.07 -13 100 3538.51 3326.92 6 100
Less: intersegment sales 8.25 63.89     110.46 140.80    
Add: Unallocable sales 10.80 4.56     29.23 21.79    
Net Sales 1037.48 1131.74     3457.28 3207.91    
PBIT                
India 13.56 -17.57 LP 6 101.60 122.42 -17 14
Rest of the World 204.05 241.82 -16 94 612.39 482.50 27 86
TOTAL 217.61 224.25 -3 100 713.99 604.92 18 100
Less interest 13.21 9.96     52.03 42.79    
Less unallocable expenditure net of inc. 134.72 99.45     449.74 391.62    
Add unallocable income 8.27 -2.72     12.23 8.39    
PBT 77.95 112.12     224.45 178.90    
Figures in Rs crore 
Source: Capitaline Database
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For the quarter ended December 2018, Va Tech Wabag reported a 23% fall in its consolidated sales to Rs 661.90 crore. OPM fell 150 basis points to 7.4% which saw OP fall 37% to Rs 49.31 crore.

Other income fell 37% to Rs 53 lakh and interest cost rose 32% to Rs 18.79 crore. After providing for depreciation (down 5% to Rs 4.12 crore), PBT fell 55% to Rs 26.93 crore.

Provision for taxation slumped 40% to Rs 14.88 crore (tax incidence grew from 41.4% to 55.3%), after which PAT went down 66% to Rs 12.05 crore.

Minority interest and share of profit/loss of associate companies stood at a positive Rs 3.37 crore against a negative Rs 5.05 crore..

Finally net profit fell 49% to Rs 15.42 crore.

Nine months results

For the nine months, Va Tech Wabag reported a 13% fall in its consolidated sales to Rs 2101.71 crore. OPM fell 90 basis points to 7.4% which saw OP fall 23% to Rs 156.53 crore.

Other income fell 46% to Rs 1.63 crore and interest cost rose 23% to Rs 51.30 crore. After providing for depreciation (down 6% to Rs 12.57 crore), PBT fell 37% to Rs 91.03 crore.

Provision for taxation slumped 38% to Rs 39.10 crore (tax incidence remained at 43%), after which PAT went down 37% to Rs 51.93 crore.

Minority interest and share of profit/loss of associate companies stood at a positive Rs 12.30 crore against a negative Rs 8.30 crore..

Finally net profit grew 13% to Rs 64.25 crore.

Consolidated segment Performance

During the quarter Indian business contributed 31% of the total revenue. Revenue fell 3% to Rs 221.55 crore. PBIT stood at a profit of Rs 40.48 crore same as last year and accounted for 27% of total

During the quarter Rest of the World business accounted for 69% of the total revenue. Revenue fell 23% to Rs 496.40 crore. PBIT fell 22% to Rs 107.44 crore and accounted for 73% of total

For the nine months Indian business contributed 31% of the total revenue. Revenue stagnated at Rs 680.93 crore. PBIT grew 9% to Rs 95.79 crore and accounted for 20% of total

During the nine months Rest of the World business accounted for 69% of the total revenue. Revenue fell 16% to Rs 1526.93 crore. PBIT fell 8% to Rs 377.36 crore and accounted for 80% of total

Order book

Order intake stood at Rs 3566.6 crore out of which Rs 2340.4 crore was in Wabag India and Rs 1226.2 crore in Wabag Overseas.

It has order Book of Rs 8360 crore & Framework Contracts of Rs 7000 crore.

Out of the order book, Rs 6779.70 is from EPC segment and the rest Rs 1581 is from the O&M.

Valuation

The share price trades at Rs 274.

Va Tech Wabag: Consolidated results

 

 

  1812 (3) 1712 (3) Var. (%) 1812 (9) 1712 (9) Var. (%) 1803 (12) 1703 (12) Var. (%)
Sales 661.9 864.7 -23 2101.71 2419.8 -13 3457.28 3207.91 8
OPM (%) 7.4 9.0   7.4 8.4   8.4 9.2  
OP 49.31 77.67 -37 156.53 203.04 -23 291.76 296.62 -2
Other income 0.53 0.84 -37 1.63 3.03 -46 5.65 11.23 -50
PBIDT 49.84 78.51 -37 154.90 200.01 -23 297.41 307.85 -3
Interest 18.79 14.23 32 51.30 41.85 23 57.68 52.58 10
PBDT 31.05 64.28 -52 103.60 158.16 -34 239.73 255.27 -6
Dep. 4.12 4.33 -5 12.57 13.31 -6 17.84 19.11 -7
PBT 26.93 59.95 -55 91.03 144.85 -37 221.89 236.16 -6
EO 0.00 0.00 -- 0.00 0.00 -- 0.00 0.00 --
PBT after EO 26.93 59.95 -55 91.03 144.85 -37 221.89 236.16 -6
Tax 14.88 24.84 -40 39.10 62.87 -38 77.40 66.66 16
PAT 12.05 35.11 -66 51.93 81.98 -37 144.49 169.50 -15
Share of profit from Ass & JV 0.04 0.72 -94 2.86 1.65 73 2.56 -57.26 -104
Minority Interest -3.33 5.77 -158 -9.46 9.98 -195 15.54 9.84 58
Net profit 15.42 30.06 -49 64.25 73.65 -13 131.51 102.40 28
EPS (Rs)* # #   # #   24.1 18.7  
* EPS on current equity capital of Rs 10.93 crore; Face Value: Rs 2
Figures in Rs crore LP: Loss to Profit
Source: Capitaline Database

Va Tech Wabag: Consolidated segment results

 

 

Segments 1812 (3) 1712 (3) Var. (%) % to Total 1812 (9) 1712 (9) Var. (%) % to Total
Sales                
India 221.55 226.76 -2 31 680.93 681.88 0 31
Rest of the World 496.40 648.46 -23 69 1526.93 1821.70 -16 69
Others     --       --  
TOTAL 717.95 875.22 -18 100 2207.86 2503.58 -12 100
Add: Unallocable sales 11.43 5.59     27.19 18.43    
Less: intersegment sales 67.48 16.11     133.34 102.21    
Net Sales 661.90 864.70     2101.71 2419.80    
PBIT                
India 40.48 40.32 0 27 95.79 88.04 9 20
Rest of the World 107.44 138.24 -22 73 377.36 408.34 -8 80
Others     --       --  
TOTAL 147.92 178.56 -17 100 473.15 496.38 -5 100
Less interest 18.26 13.39     49.67 38.82    
Less unallocable expenditure net of inc. 109.44 104.98     342.34 449.74    
Add unallocable income 6.75 0.48     3.96 12.23    
PBT 26.97 60.67     85.10 20.05    
Figures in Rs crore 
Source: Capitaline Database

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