Q4 Results 2022: Exide Industries, Borosil Renewables and Morepen announce March quarter results; here are key highlights!

Q4 Results 2022: More companies announced their January-March quarter results on Thursday. The companies which declared their quarterly results included Exide Industries Limited, Borosil Renewables and Morepen Laboratories. Here are key highlights of the earnings reported by these companies.

Exide Q4 Results 2022: Battery company reports net profit of Rs 3,953 cr in Q4

Battery manufacturer Exide Industries on Thursday reported a consolidated net profit of Rs 3,953 crore for the fourth quarter ended March 2022.

The company had posted a net profit of Rs 320 crore in the January-March quarter of 2020-21 fiscal.

The battery maker completed the sale of its unit -- Exide Life Insurance Company Ltd on January 1, 2022, resulting in a gain of Rs 4,694 crore.

Revenue from operations rose to Rs 3,523 crore in the fourth quarter as against Rs 3,024 crore in the year-ago period, Exide Industries said in a regulatory filing.

For the year ended March 31, 2022, the company posted a consolidated net profit of Rs 4,357 crore. It was Rs 803 crore in FY 2021.

Revenue from operations stood at Rs 12,789 crore in the last financial year, as against Rs 10,359 crore in 2020-21.

"The company was successful in appreciably lowering fixed costs; however, this could not fully neutralise the inflationary impact of sharp and continued escalation in prices of inputs, coupled with runaway fuel and freight costs, leading to a decline in operating margins," Exide Industries MD & CEO Subir Chakraborty said.

Lowering of fixed costs came about from the bold initiatives undertaken in sales transformation and cost compression strategies, which are presently yielding handsome results, he added.

Under the newly formed wholly-owned subsidiary, Exide Energy Solutions, the company plans to set-up a multi-gigawatt hour lithium-ion cell manufacturing facility, Chakraborty said.

"Spread out across two popular cell chemistries and three cell formats, this unit shall be uniquely placed to cater to the diverse requirements of customers in India," he added.

The company said its board has declared an interim dividend of Rs 2 per share on the face value of Re 1 each for the year 2021-22.

Exide Industries shares ended at Rs 148 on the NSE on Thursday and were up per cent from the Wednesday closing price. 

Borosil Renewables Q4 Results 2022: net profit dips to Rs 46.38 cr in March quarter

Borosil Renewables' March 2022 quarter net profit fell to Rs 46.38 crore against Rs 66.87 crore in the year-ago period, mainly due to lower revenues.

The total income declined to Rs 182.33 crore in the quarter from Rs 196.90 crore a year ago, showed a regulatory filing on Thursday.

Its net profit rose to Rs 165.84 crore in 2021-22 from Rs 89.64 crore in 2020-21. For FY22, the total income increased to Rs 664.73 crore from Rs 507.63 crore in the preceding fiscal.

The company is engaged only in the business of manufacture of flat glass, which is a single segment in terms of Indian Accounting Standard Operating Segments (lnd AS-108).

shares ended at Rs on the NSE on Thursday and were up per cent from the Wednesday closing price. 

Morepen Q4 Results 2022: net drops 55% to Rs 12 cr

Drug firm Morepen Laboratories on Thursday said its consolidated net profit declined by 55 per cent to Rs 12 crore for the fourth quarter ended March 2022.

The company had reported a net profit of Rs 27 crore in the January-March quarter of 2020-21 fiscal.

Total income increased to Rs 371 crore for the period under review as against Rs 291 crore in the fourth quarter of 2020-21 financial year, Morepen Laboratories said in a regulatory filing.

For the year ended March 31, 2022, the drug firm reported a consolidated net profit of Rs 102 crore as compared to Rs 97 crore in FY 2021.

Total income increased to Rs 1,557 crore during the period under review. It was Rs 1,200 crore in the year-ago period.

"The company has been able to expand its market share and grown in all business segments and expects to increase its profitability parameters in the next few quarters once the supply disruptions are normalised, which have resulted in increased input costs," Morepen Laboratories Chairman and Managing Director Sushil Suri noted.

The company continues to invest in developing new markets and launch new products to reach more and more customers, he added.

He further said: "We have got shareholder's approval for the conversion of bank's preference shares into equity capital, which is underway, while we wait for the regulatory approvals. It will be a big milestone for the company, once the process is completed."

Morepen shares ended at Rs 42.70 on the NSE on Thursday and were down over 11 per cent from the Wednesday closing price. 

With Inputs from PTI