(Rs m) | 2QFY04 | 2QFY05 | Change | 1HFY04 | 1HFY05 | Change |
Net sales | 11,847 | 15,282 | 29.0% | 23,481 | 30,452 | 29.7% |
Expenditure | 9,154 | 11,312 | 23.6% | 18,133 | 22,182 | 22.3% |
Operating profit (EBDITA) | 2,693 | 3,970 | 47.4% | 5,348 | 8,271 | 54.7% |
Operating profit margin (%) | 22.7% | 26.0% | 22.8% | 27.2% | ||
Other income | 665 | 276 | -58.6% | 876 | 438 | -50.0% |
Interest | 403 | 367 | -9.0% | 794 | 696 | -12.3% |
Depreciation | 684 | 706 | 3.2% | 1,354 | 1,404 | 3.7% |
Profit before tax | 2,271 | 3,172 | 39.7% | 4,076 | 6,609 | 62.2% |
Extraordinary items | 289 | 52 | -82.0% | 289 | 52 | - |
Tax | 530 | 1,025 | 93.4% | 1,030 | 2,270 | 120.4% |
Profit after tax/(loss) | 2,030 | 2,199 | 8.4% | 3,335 | 4,391 | 31.7% |
Net profit margin (%) | 17.1% | 14.4% | 14.2% | 14.4% | ||
No. of shares (m) | 91.7 | 91.7 | 91.7 | 91.7 | ||
Diluted earnings per share (Rs)* | 88.6 | 95.9 | 72.7 | 95.8 | ||
P/E ratio (x) | 11.7 | |||||
(* annualised) |
(Rs m) | 2QFY04 | (% sales) | 2QFY05 | (% sales) | Change |
VSF | 4,057 | 33.3% | 5,104 | 32.7% | 25.8% |
Cement | 5,447 | 44.7% | 6,652 | 42.6% | 22.1% |
Sponge iron | 1,229 | 10.1% | 2,275 | 14.6% | 85.2% |
Chemicals | 782 | 6.4% | 814 | 5.2% | 4.1% |
Textiles | 669 | 5.5% | 777 | 5.0% | 16.2% |
Sponge iron margins decline: While operating margins have increased by 320 basis points in 2QFY05, this was led by better cement and VSF margins on a YoY basis (graph below). Sponge iron margins are lower as compared to 1QFY05, which partly explains the fact that steel cycle may be reversing. However, it has to be remembered that 2QFY04 was exceptionally poor for cement manufacturers and to that extent, the rise in cement margins is magnified.
For the quarter ended June 2020, GRASIM has posted a net profit of Rs 6 bn (down 65.6% YoY). Sales on the other hand came in at Rs 136 bn (down 27.8% YoY). Read on for a complete analysis of GRASIM's quarterly results.
For the quarter ended December 2019, GRASIM has posted a net profit of Rs 10 bn (down 6.2% YoY). Sales on the other hand came in at Rs 192 bn (up 4.3% YoY). Read on for a complete analysis of GRASIM's quarterly results.
Here's an analysis of the annual report of GRASIM for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of GRASIM. Also includes updates on the valuation of GRASIM.
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