Results - Analysis
Deep Industries
01-Feb-25 08:54
Net sales (including other operating income) of Deep Industries for the quarter ended Dec 2024 has increased 47.89% to Rs 154.83 crore. Operating profit margin has jumped from 38.21% to 43.11%, leading to 66.85% rise in operating profit to Rs 66.74 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 44.03% to 40.76%. Employee cost decreased from 11.68% to 9.92%. Other expenses rose from 6.08% to 6.21%.
Other income fell 6.67% to Rs 8.53 crore. PBIDT rose 53.17% to Rs 75.27 crore. Provision for interest rose 10.27% to Rs 3.22 crore.
PBDT rose 55.88% to Rs 72.05 crore. Provision for depreciation rose 16.37% to Rs 10.45 crore.
Profit before tax grew 65.41% to Rs 61.60 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 13.98 crore, compared to Rs 9.3 crore. Effective tax rate was 22.69% compared to 24.97%.
Minority interest increased 420.78% to Rs 4.01 crore. Net profit attributable to owners of the company increased 60.51% to Rs 43.61 crore.
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of Deep Industries has increased 33.05% to Rs 408.9 crore.
Operating profit margin has jumped from 39.56% to 42.75%, leading to 43.79% rise in operating profit to Rs 174.81 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 41.41% to 39.64%. Employee cost decreased from 11.40% to 11.18%. Other expenses fell from 7.15% to 6.43%.
Other income rose 8.52% to Rs 26.49 crore. PBIDT rose 37.90% to Rs 201.3 crore. Provision for interest rose 59.03% to Rs 8.81 crore.
PBDT rose 37.06% to Rs 192.49 crore. Provision for depreciation rose 11.72% to Rs 30.51 crore.
Profit before tax grew 43.18% to Rs 161.98 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 34.08 crore, compared to Rs 25.66 crore. Effective tax rate was 21.04% compared to 22.48%.
Minority interest increased 1,077.33% to Rs 8.83 crore. Net profit attributable to owners of the company increased 35.71% to Rs 119.07 crore.
Company's order book rose to ? 2,701 Cr as on Dec 31, 2024
Promoters' stake was 63.49% as of 31 December 2024 ,compared to 63.49% as of 31 December 2023 .
Management Comments :Commenting on the performance, Paras S. Savla, Chairman and MD, Deep Industries Ltd. said, 'I am delighted to share that we have delivered another strong quarterly performance, underpinned by the growing demand for oilfield services. Our strategic focus on expanding our presence in the oilfield segment and offering more value-added solutions has enabled us to align with evolving customer needs and industry trends. This approach has not only allowed us to address critical gaps in the sector but also strengthened our position along the value chain. Looking ahead, we remain confident in our growth trajectory as we enter the next financial year. With a clear focus on innovation, operational excellence, and value creation, we are wellpositioned to capitalize on emerging opportunities. Our unwavering commitment to delivering superior results and enhancing shareholder value continues to drive our strategic decisions and future aspirations.'
| Deep Industries : Consolidated Results |
| | Quarter ended | Year to Date | Year ended |
|---|
| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
|---|
| Net Sales (including other operating income) | 154.83 | 104.69 | 47.89 | 408.90 | 307.33 | 33.05 | 426.99 | 341.34 | 25.09 | | OPM (%) | 43.11 | 38.21 | 490 bps | 42.75 | 39.56 | 319 bps | 37.33 | 38.25 | -91 bps | | OP | 66.74 | 40.00 | 66.85 | 174.81 | 121.57 | 43.79 | 159.41 | 130.55 | 22.11 | | Other Inc. | 8.53 | 9.14 | -6.67 | 26.49 | 24.41 | 8.52 | 35.63 | 11.25 | 216.71 | | PBIDT | 75.27 | 49.14 | 53.17 | 201.30 | 145.98 | 37.90 | 195.04 | 141.80 | 37.55 | | Interest | 3.22 | 2.92 | 10.27 | 8.81 | 5.54 | 59.03 | 8.46 | 5.23 | 61.76 | | PBDT | 72.05 | 46.22 | 55.88 | 192.49 | 140.44 | 37.06 | 186.58 | 136.57 | 36.62 | | Depreciation | 10.45 | 8.98 | 16.37 | 30.51 | 27.31 | 11.72 | 34.37 | 29.6 | 16.11 | | PBT | 61.60 | 37.24 | 65.41 | 161.98 | 113.13 | 43.18 | 152.21 | 106.97 | 42.29 | | Share of Profit/(Loss) from Associates | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT before EO | 61.6 | 37.24 | 65.41 | 161.98 | 113.13 | 43.18 | 152.21 | 106.97 | 42.29 | | EO Income | 0 | 0 | - | 0 | 1.02 | - | 1.58 | 44.69 | -96.46 | | PBT after EO | 61.6 | 37.24 | 65.41 | 161.98 | 114.15 | 41.90 | 153.79 | 151.66 | 1.40 | | Taxation | 13.98 | 9.3 | 50.32 | 34.08 | 25.66 | 32.81 | 28.63 | 26.36 | 8.61 | | PAT | 47.62 | 27.94 | 70.44 | 127.9 | 88.49 | 44.54 | 125.16 | 125.3 | -0.11 | | Minority Interest (MI) | 4.01 | 0.77 | 420.78 | 8.83 | 0.75 | 1,077.33 | 1.31 | 9.3 | -85.91 | | Net profit | 43.61 | 27.17 | 60.51 | 119.07 | 87.74 | 35.71 | 123.85 | 116 | 6.77 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 43.61 | 27.17 | 60.51 | 119.07 | 87.74 | 35.71 | 123.85 | 116 | 6.77 | | EPS (Rs)* | 6.81 | 4.25 | 60.51 | 18.60 | 13.59 | 36.93 | 19.15 | 12.78 | 49.82 | | | * EPS is on current equity of Rs 32.00 crore, Face value of Rs 5, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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