Arvind Smartspaces (ASL) has reported a dip of 26.35 per cent in its net consolidated profit during the quarter ended March 31, 2023. Its profit after tax stood at Rs 10.48 crore in Q4 FY23 as against Rs 14.23 crore it registered in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 94.37 crore in Q4 FY23, a dip of 42.32 per cent from Rs 163.62 crore it recorded in the similar quarter last year.
Kamal Singal, managing director and CEO of the company said, “We are delighted to inform that the Company has recorded the highest ever annual bookings of Rs. 802 crore, a growth of 33% over FY22. For the first time, number of units sold crossed 1,100 units milestone annually.
From a quarterly perspective, we had the strongest ever Q4 bookings at Rs. 244 crore, second consecutive quarter with sales value of over Rs. 200 crore. Strong collections and profitability resulted in operating cash flows of more than Rs. 200 crore. Our investment program of Rs. 1,000 crore is very much on track and we look forward towards its deployment in business development activities in the coming quarters.”
The board of directors recommended final dividend of Rs 1.65 per equity share of the face value of Rs 10 each and one-time special dividend of Rs 1.65 per equity share of the face value of Rs 10 each. Accordingly, the total dividend for the financial year ended on March 31, 2023 amounts to Rs 3.30 per equity share of the face value of Rs. 10 each.
The board also appointed Kulin S. Lalbhai, non-executive director of the company as vice chairman of the board of directors and company and redesignated as vice chairman & non-executive director with effect from May 19, 2023, it said in the regulatory filing.
The company saw annual sales value of Rs. 802 crore; registering year-on-year growth of 33%, annual collections were Rs 600 crore; registering year-on-year growth of 1%, bookings grew by 33% year-on-year to Rs 802 crore. Net Interest-bearing funds as on March 31, 2023 is Rs -30 crore (vs March 31, 2022 Rs -107 crore). Net debt (Interest-bearing funds) to equity ratio at (0.07) as on March 31, 2023 vs (0.26) on March 31, 2022.