Elantas Beck India

Net sales (including other operating income) of Elantas Beck India have increased 12.43% to Rs 183.57 crore. Sales of the Electrical Insulation segment have gone up 11.70% to Rs 154.09 crore (accounting for 83.74% of total sales). Sales of the Engineering and electronic resins segment have gone up 17.34% to Rs 29.91 crore (accounting for 16.26% of total sales). 

Profit before interest, tax and other unallocable items (PBIT) has slumped 11.95% to Rs 32.16 crore.  The PBIT of the Electrical Insulations segment fell 11.76% to Rs 24.72 crore (accounting for 76.85% of total PBIT).  PBIT of the Engineering & Electronic Resins segment fell 12.56% to Rs 7.45 crore (accounting for 23.15% of total PBIT). 

The PBIT margin of the Electrical insulation segment fell from 20.31% to 16.04%.  PBIT margin of Engineering & Electronic Resins and segment fell from 33.40% to 24.89%.  Overall PBIT margin fell from 22.35% to 17.48%. 

Operating profit margin has declined from 22.90% to 18.06%, leading to an 11.34% decline in operating profit to Rs 33.15 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 58.73% to 63.24%.   The cost of purchasing finished goods rose from 0.70% to 1.66%.   Employee costs increased from 5.95% to 6.04%.   Other expenses rose from 11.43% to 11.50%.  

Other income is up 0.73% to Rs 12.49 crore.  PBIDT fell 8.34% to Rs 45.64 crore.  Provision for interest up 28.57% to Rs 0.18 crore. 

PBDT fell 8.44% to Rs 45.46 crore.  Provision for depreciation rose 28.67% to Rs 3.86 crore. 

Profit before tax down 10.83% to Rs 41.60 crore.  The tax provision was an expense of Rs 10.53 crore, compared to Rs 11.82 crore.  The effective tax rate was 25.31% compared to 25.34%.

Profit after tax fell 10.80% to Rs 31.07 crore. 

Promoters' stake was 75.00% as of 30 September 2024, compared to 75.00% as of 30 September 2023. 

On March 6, 2019, the company was directed for closure of its operations (GPCB) due to a suspected groundwater contamination issue. The GPCB through its subsequent orders had granted temporary revocation of the closure order until July 23, 2025. The company has represented to the GPCB for a permanent revocation of the closure order and based on the remediation done the management expects a positive outcome.

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Elantas Beck India have increased 8.99% to Rs 551.54 crore.  The Electrical Insulations segment`s sales have gone up 9.20% to Rs 470.20 crore (accounting for 84.96% of total sales).  Sales of Engineering & Electronic Resins and segment has gone up 8.77% to Rs 83.25 crore (accounting for 15.04% of total sales). 

Profit before interest, tax and other unallocable items (PBIT) has jumped 2.37% to Rs 108.83 crore.  The PBIT of Electrical Insulations segment rose 4.89% to Rs 86.38 crore (accounting for 79.37% of the total PBIT).  PBIT of the Engineering & Electronic Resins segment fell 6.27% to Rs 22.46 crore (accounting for 20.63% of total PBIT). 

The PBIT margin of the Electrical insulation segment fell from 19.13% to 18.37%.  PBIT margin of Engineering & Electronic Resins and segment fell from 31.30% to 26.97%.  Overall PBIT margin fell from 20.96% to 19.66%. 

Operating profit margin has declined from 21.93% to 19.84%, leading to a 1.44% decline in operating profit to Rs 109.40 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 61.16% to 61.91%.   The cost of purchasing finished goods rose from 0.44% to 1.11%.   Employee costs increased from 5.40% to 6.11%.   Other expenses rose from 10.98% to 11.35%.  

Other income up 36.66% to Rs 44.7 crore.  PBIDT rose 7.23% to Rs 154.1 crore.  Provision for interest up 24.32% to Rs 0.46 crore. 

PBDT rose 7.19% to Rs 153.64 crore.  Provision for depreciation rose 15.31% to Rs 10.17 crore. 

Profit before tax grew 6.65% to Rs 143.47 crore.  The tax provision was an expense of Rs 33.65 crore, compared to Rs 34.22 crore.  The effective tax rate was 23.45% compared to 25.44%.

Profit after tax rose 9.49% to Rs 109.82 crore. 

Promoters' stake was 75.00% as of 30 September 2024, compared to 75.00% as of 30 September 2023. 

The stock trades at Rs 12850

 

Elantas Beck India : Standalone Results
Particulars	2409 (03)	2309 (03)	Var.(%)	2409 (09)	2309 (09)	Var.(%)	2312 (12)	2212 (12)	Var.(%)
Net Sales	183.57	163.27	12	551.54	506.06	9	679.89	644.70	5
OPM (%)	18.1	22.9		19.8	21.9		21.1	17.6
OP	33.15	37.39	-11	109.4	111	-1	143.15	113.78	26
Other Inc.	12.49	12.4	1	44.7	32.71	37	52.95	17.64	200
PBIDT	45.64	49.79	-8	154.10	143.71	7	196.10	131.42	49
Interest	0.18	0.14	29	0.46	0.37	24	0.57	0.62	-8
PBDT	45.46	49.65	-8	153.64	143.34	7	195.53	130.80	49
Depreciation	3.86	3	29	10.17	8.82	15	11.90	12.39	-4
PBT before EO	41.60	46.65	-11	143.47	134.52	7	183.63	118.41	55
EO Income	0.00	0.00		0.00	0.00		0.00	10.72	-100
PBT after EO	41.60	46.65	-11	143.47	134.52	7	183.63	129.13	42
Taxation	10.53	11.82	-11	33.65	34.22	-2	46.33	31.35	48
PAT	31.07	34.83	-11	109.8200	100.3000	9	137.30	97.78	40
EPS (Rs)*	#	#		#	#		173.1	113.1	53
Notes
* EPS is on current equity of Rs 7.93 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

Elantas Beck India : Standalone Segment Results
	% of (Total)	2409 (03)	2309 (03)	Var.(%)	% of (Total)	2409 (09)	2309 (09)	Var.(%)	% of (Total)	2312 (12)	2212 (12)	Var.(%)
Sales
Electrical Insulations	84	154.09	137.95	12	85	470.2	430.58	9	85	577.34	538.72	7
Engineering & Electronic Resins and	16	29.91	25.49	17	15	83.25	76.53	9	15	103.67	106.62	-3
Total Reported Sales	100	184	163.45	13	100	553.44	507.11	9	100	681.01	645.34	6
Less: Inter segment revenues		0	0	-		0	0		0	0	-
Net Sales		184	163.45	13		553.44	507.11	9		681.01	645.34	6
PBIT
Electrical Insulations	77	24.72	28.01	-12	79	86.38	82.35	5	77	108.96	80.41	36
Engineering & Electronic Resins and	23	7.45	8.52	-13	21	22.46	23.96	-6	23	32.17	25.57	26
Total PBIT	100	32.16	36.53	-12	100	108.83	106.31	2	100	141.13	105.98	33
Less : Interest		0.18	0.14	30		0.46	0.37	26		0.57	0.62	-8
Add: Other un-allcoable		9.62	10.25	-6		35.1	28.57	23		43.06	23.77	81
PBT		41.6	46.64	-11		143.47	134.51	7		183.62	129.13	42