Honeywell Automation Q4 Net Profit Down -6.4% on Lower Sales Revenues
Honeywell Automation Ltd reported marginal -4.48% yoy fall in consolidated revenues for the Mar-21 quarter at Rs 672.70cr. On a sequential basis, the total sales revenues were down by a relatively bigger -23.05% compared to total revenues in the Dec-20 quarter at Rs874.16cr.
Full year revenues for FY21 stood -7.5% lower yoy at Rs 3,043cr. The automation and control business did see some dip in the recent quarter after orders peaked in the Dec-20 quarter as the impact of partial lockdowns was felt in order flows in the month of March.
Net profits in the Mar-21 quarter were down -6.41% at Rs 104.02cr on the back of a fall in sales revenues on a yoy basis. Otherwise, EBITDA margins have been relatively stable on a quarter on quarter basis as also on a yoy basis. The board has approved dividend of Rs.85 per share as against Rs.75 per share in the previous fiscal year. Net margins at 15.46% for Mar-21 quarter was marginally lower than 15.78% NPM reported in the Mar-20 quarter.