Earnings | Sika Interplant Systems Limited (BSE:523606): Q3FY23 Results Out; Net Profit fell 2% YoY

Sika Interplant Systems Limited (BSE:523606) has been in operation for several decades and is primarily engaged in the manufacturing and rendering of services in engineering products, projects, and designs. The company operates through its engineering products and services segment, which includes various products such as handling equipment, engineering projects and engineering services, design engineering and supply, and engineering services. It also offers Motion Control Products such as servo motors, brush and brushless motors, stepper motors, frameless and housed motors and linear motors, generators, amplifiers, controllers, actuators, feedback sensors, tachometers, resolvers, potentiometers, gear heads, brakes and clutches, and slip rings.

Sika Interplant Systems Limited also provides Motion Control Systems such as pedestals, rotary tables, and positioning systems, as well as Hydraulic Products including solenoid valves, air intake particle separators, and pressure switches. The company has subsidiaries, including M/s. Sikka n Sikka Engineers Pvt Ltd, M/s. EMSAC Engineering Pvt Ltd, and M/s. SIKA UK Ltd.

During the 3-month period ended December 31, 2022, the company reported total income of Rs. 15.3 crore, which is a significant decrease from the previous quarter’s total income of Rs. 28.0 crores. This represents a decline of about 45.5%. Similarly, the net profit for the 3-month period ended December 31, 2022, was Rs. 2.2 crores, which is lower than the net profit of Rs. 5.0 crores posted in the previous quarter. The company’s earnings per share (EPS) for the 3-month period ended December 31, 2022, was Rs. 5.19, compared to Rs. 11.95 in the previous quarter. This is a decrease of about 56.6%.

In comparison to the corresponding period in the previous year, the company’s total income for the 3-month period ended December 31, 2022, decreased by 10.1%, from Rs. 17.0 crore to Rs. 15.3 crore. Similarly, the net profit for the same period decreased from Rs. 7 crore to Rs. 2.2 crore, representing a decline of about 68.5%. The company’s EPS for the 3-month period ended December 31, 2022, was Rs. 5.19, compared to Rs. 16.49 in the corresponding period in the previous year. This represents a decline of about 68.5%.

During the 9-month period ended December 31, 2022, the company reported total income of Rs. 43.3 crore, which is a decrease of about 46.6% from the corresponding period in the previous year when the total income was Rs. 81 crore. Similarly, the net profit for the 9-month period ended December 31, 2022, was Rs. 6.7 crore, compared to Rs. 12.2 crore posted in the corresponding period in the previous year, representing a decline of about 44.6%. The company’s EPS for the 9-month period ended December 31, 2022, was Rs. 15.90, compared to Rs. 28.82 in the corresponding period in the previous year. This represents a decline of about 44.8%.

In conclusion, Sika Interplant Systems Ltd. experienced a decline in its financial performance in the 3-month period ended December 31, 2022, as well as the 9-month period ended December 31, 2022, compared to the corresponding periods in the previous year. The company’s total income, net profit, and EPS all declined during these periods.