India Motor Parts & Accessories Ltd (IMPAL), part of TS Santhanam Group (a faction of the larger TVS Group of Companies), has reported a standalone profit after tax of ₹26 crore for the quarter ended March 31, 2023, compared to ₹20 crore in the year-ago quarter. 

The Board has recommended a dividend of ₹15.00 per equity share of ₹10 each (150 per cent) for the financial year 2022-23. It had declared an interim dividend of ₹9 per equity share earlier. So, the total dividend works out to ₹24 per share on a paid-up share capital of ₹12.48 crore

Its revenue from operations for the March 2023 quarter was lower at ₹166 crore, compared to ₹172 crore in March 2022 quarter.

On a consolidated basis, its profit after tax increased to ₹25 crore, compared to ₹22 crore in the same period a year ago. Revenue was lower at ₹170 crore, compared to ₹177 crore.

For the year ended March 31, 2023, the company’s standalone PAT was higher at ₹74 crore, compared to ₹57 crore in FY22, an increase of 30 per cent. Revenue from operations was higher at ₹708 crore, against ₹628 crore in FY22.  

On a consolidated basis, the company’s PAT stood at ₹75 crore in FY23 when compared with ₹61 crore in FY22. Revenue increased to ₹726 crore from ₹646 crore in FY22.

“The company has remained net debt-negative for the last several years, achieved on the back of prudent working capital management and limited capex due to its asset-light strategy. It is expected to remain net debt negative over the medium term with sizeable cash and bank balances and liquid investments,” said a recent report by ICRA.

IMPAL is an established automotive spare parts and accessories distributor with a pan-India presence and a network of more than 80 branches and 18,000 dealers. It caters to products from more than 40 auto component manufacturers.

On the NSE today, the Impal share of face value of ₹10, closed at ₹754, which was ₹12.65 (1.71 per cent) higher than the previous close.