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PATELS AIRTEMP (INDIA) LTD.

Household Appliances
March 24, 2015

CMP

Rs. 142.2

BSE Code
BSE ID
High/Low 1Y (Rs)
Average Volume (3M)
Market Cap Full/Free
Float (Rs. Cr)

517417
PATELSAI
185.8 / 42.9
12,967

Quarter Review-Dec' FY15


Revenue surged both on Y-o-Y and Q-o-Q basis

Total revenue rose sharply by 139.2% to Rs. 35.8 crore in 3QFY15 against
Rs. 15.0 crore in 3QFY14.On sequential basis the same grew by 58.8%.

Sep-14
46.01
53.99

Stock Chart ( Relative to Sensex)

35.8
22.6
17.3

15.0

3QFY14

350
250

300

200

200

150
100

100

50

Stock Performance (%)


Patels Airtemp
S&P BSE Sensex
Financials
Revenue
EBITDA
Net Profit
EPS (Diluted)
EBITDA Margin
Net Profit Margin

Patels Airtemp

1M
-14.6
-2.9
3QFY15
35.8
4.4
2.0
3.85
12.4%
5.4%

24-Mar-15

6M
19.9
6.4
3QFY14
15.0
2.2
1.0
2.01
14.4%
6.8%

1Yr
218.8
27.7
Y-o-Y
139.2%
105.5%
91.7%
-

58.8%
4.6%
24.2%
2.6%

3QFY14
46.1%
9.7%
29.8%
1.9%

TTM
51.8%
6.6%
28.2%
2.0%

1. Financial Year ends on March 31.


2. Financials are on a Standalone basis.
3. All figures in Rs. crore except for per share data.
4. TR stands for Total Revenue

Initiative of the BSE Investors Protection Fund

4.4

3.1
2.4

2.2

2.4

14%
13%

12.4%

12%

11%

3QFY14

4QFY14
EBITDA

1QFY15 2QFY15 3QFY15


EBITDA Margin (%)

Fall in Net Profit Margin

The fall in EBITDA Margin had a cascading effect on the company's Net
Profit Margin.Net Profit Margin stood at 5.4% in 3QFY15 against 6.8% in
3QFY14.

Rs. in crore

3QFY15

13.6%

2.5

Common size
Analysis
COGS / TR
Emp. Cost / TR
Other Exp. / TR
Interest / TR

13.9%

15%

14.7%

14.4%

S&P BSE Sensex

3QFY15

EBITDA margin fell to 12.4% in 3QFY15 from 14.4% in 3QFY14 due to


significant rise in Cost of Goods Sold.However, fall in employee cost and
other operating expenditure as a percentage of total revenue restricted
the losses.

Rs. in crore

Vol

24-Sep-14

1QFY15
2QFY15
Total Revenue

Decline in EBITDA Margin

24-Mar-14

16.1

4QFY14

300

400

Volume in '000

Price- Rebased

500

40
35
30
25
20
15
10
5
0

EBITDA Margin (%)

Dec-14
46.01
53.99

6.8%

2.0

6.2%

6.4%

5.4%

1.5
1.6

1.0
0.5

1.0

1.1

1.0

3QFY14

4QFY14

1QFY15

8%

6.9%

2.0

6%
4%
2%

0.0

Net Profit Margin (%)

Shareholding %
Promoters
FII
DII
Public & Others

Rs. in crore

41 / 25

0%

Net Profit

2QFY15

3QFY15

Net Profit Margin (%)

-1-

PATELS AIRTEMP (INDIA) LTD.


Household Appliances
Summary Financials*
Particulars (Rs. Crore)
Net Sales
Other Op. Revenue
Total Revenue
Cost of Goods Sold
Gross Profit
Employee Costs
Other Expenditure
EBITDA
Depreciation
EBIT
Finance Cost
Other Income
Exceptional Items
PBT
Income Tax
Profit after Tax
Extra Ordinary Items
Minority Interest
Net Profit
Rep. Basic EPS
Rep. Dilluted EPS
Equity Capital
Face value

3QFY15
33.1
2.8
35.8
(21.1)
14.7
(1.7)
(8.7)
4.4
(0.7)
3.8
(0.9)
0.1
0.0
2.9
(0.9)
2.0
0.0
0.0
2.0
3.85
3.85
5.1
10.0

3QFY14
14.7
0.3
15.0
(6.9)
8.1
(1.5)
(4.5)
2.2
(0.4)
1.7
(0.3)
0.1
0.0
1.5
(0.5)
1.0
(0.0)
0.0
1.0
2.01
2.01
5.1
10.0

2QFY15
21.8
0.7
22.6
(11.1)
11.5
(1.6)
(6.8)
3.1
(0.6)
2.5
(0.3)
0.1
0.0
2.3
(0.7)
1.6
0.0
0.0
1.6
3.07
3.07
5.1
10.0

Y-o-Y %
125.6%
759.0%
139.2%
205.3%
82.7%
14.0%
94.0%
105.5%
61.3%
116.3%
222.2%
-26.8%
89.2%
90.2%
88.8%
91.7%
-

Q-o-Q %
51.4%
279.8%
58.8%
90.1%
28.6%
3.2%
27.5%
44.3%
11.1%
52.5%
236.5%
-48.2%
25.8%
26.7%
25.4%
25.4%
-

TTM
87.6
4.2
91.8
(47.5)
44.3
(6.1)
(25.9)
12.3
(2.4)
9.9
(1.8)
0.5
0.0
8.5
(2.9)
5.6
(0.0)
0.0
5.6
11.05
11.05
5.1
10.0

FY14
68.4
2.4
70.8
(37.6)
33.2
(5.6)
(17.9)
9.7
(1.7)
7.9
(1.2)
0.5
0.0
7.2
(2.6)
4.7
(0.0)
0.0
4.7
9.20
9.20
5.1
10.0

FY13
87.9
2.6
90.6
(54.5)
36.1
(5.1)
(19.6)
11.3
(1.5)
9.8
(2.7)
0.3
0.0
7.4
(2.4)
4.9
0.0
0.0
4.9
9.76
9.76
5.1
10.0

Source: Company Financials, ICRA Online Research TTM-Trailing twelve months * All figures are on Standalone basis
PL: Profit to loss, LP: Loss to profit NA-De-growth due to loss in both the year; $: Percent Change is huge due to base effect.

Contact Details

ICRA ONLINE LIMITED


researchdesk@icraonline.com

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