Standalone Q1FY22 results
- The standalone revenue for Q1FY22 stood at Rs. 1,114 crores, a growth of 154.3% YoY. The revenue declined by (-12.2%) on a QoQ basis.
- Operating profit stood at Rs. 194 crores. The company suffered a operating loss during of Rs. (-100) crores during Q1FY21. The operating profit declined by (-1.5%) on QoQ basis.
- The operating profit margins stood at 17% in Q1FY22 as compared to 16% in Q4FY21, a growth of 100 bps.
- The company registered a PAT of Rs. 181 crores as compared to a loss of Rs. (-125) crores in Q1FY21. PAT declined by (-26.1 %) on QoQ basis.
Consolidated Q1FY22 results
- The consolidated revenue for Q1FY22 stood at Rs. 16,157 crores, a growth of 90% YoY. The revenue declined by (-4.8%) on a QoQ basis.
- Operating profit stood at Rs. 1,375 crores as compared to operating loss of Rs. (-671) crores in Q1FY21. The operating profit declined by (-22.9%) on QoQ basis.
- The operating profit margins stood at 9% in Q1FY22 as compared to 11% in Q4FY21, a decline of -200 bps.
- The company registered a PAT of Rs. 290 crores as compared to a loss of Rs. (-810) crores in Q1FY21. PAT declined by (-59.4 %) on QoQ basis.
- The performance of the company was impacted by COVID situation in India, supply side problems in international regions, one time expense in PKC and a sharp increase in copper prices.
- The demand of PVs and CVs is strong. The company expects good recovery in demand, majorly in North America and European markets.
- SMRPBV has won new orders amounting to EUR 4.5 billion. The contribution of EVs to order book is close to 25%.
- Headwinds could be caused due to OEM production due to global supply chain disruption and semiconductor shortages in near term.
- The company expects the situation to improve from H2FY22 onwards.
- SMP’s greenfield plants are improving. Plant in Hungary saw a bigger impact due to supply chain issues.
- Lag in copper price pass, component shortages, high logistic costs and high product launch costs were the reasons due to which PKC performance got impacted.
- PKC has strong order book. Disruptions are caused by hurricane in Texas and floods in Europe.
- PKC is also working with its customers on electric trucks.
- Consolidated net debt increased due to higher working capital.
- The company said the CAPEX for FY22 would be close to Rs. 2,000 crores.