AHLUWALIA CONTRACTS Announces Quarterly Results (4QFY19); Net Profit Down 0.1%

Thu, 13 Jun

AHLUWALIA CONTRACTS has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

AHLUWALIA CONTRACTS Quarterly Financials

No. of Mths Qtr. Ending		3 Mar-18*	3 Dec-18*	3 Mar-19*	QoQ Change	YoY Change
Net Sales	Rs m	4,468	4,185	4,874	16.5%	9.1%
Other income	Rs m	27	40	32	-20.3%	18.5%
Turnover	Rs m	4,494	4,225	4,906	16.1%	9.2%
Expenses	Rs m	3,934	3,689	4,307	16.7%	9.5%
Gross profit	Rs m	534	496	567	14.3%	6.2%
Depreciation	Rs m	65	70	70	-0.4%	7.2%
Interest	Rs m	42	51	52	0.9%	21.6%
Profit before tax	Rs m	453	414	477	15.2%	5.4%
Tax	Rs m	143	145	167	15.5%	17.2%
Profit after tax	Rs m	310	269	310	15.0%	-0.1%
Gross profit margin	%	11.9	11.8	11.6
Effective tax rate	%	31.5	35.0	35.0
Net profit margin	%	6.9	6.4	6.3

Year-on-Year Performance:

• The company's operating income during the quarter grew 9.1% on a year-on-year (YoY) basis. The expenses were up by 9.5% YoY during the same period.
• The company's operating profit increased by 6.2% YoY during the quarter. Consequently, operating profit margins remained same and stood at 11.6% in 4QFY19.
• Depreciation charges increased by 7.2% and finance costs increased by 21.6% YoY, respectively.
• Other income increased by 18.5% YoY during the quarter.
• Net profit for the quarter declined by 0.1% YoY. Net profit margins during the quarter declined from 6.9% in 4QFY18 to 6.3% in 4QFY19.

Quarter-on-Quarter Performance:

• The company's operating income during the quarter grew 16.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.7% QoQ during the same period.
• The company's operating profit declined by 14.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.6% in 4QFY19 as against 11.8% in 3QFY18.
• Net profit for the quarter increased by 15.0% QoQ, while net profit margins declined from 6.4% in 3QFY18 to 6.3% in 4QFY19.

To see how AHLUWALIA CONTRACTS has performed over the last eight quarters, please visit here.

AHLUWALIA CONTRACTS Share Price Performance

Over the last one year, AHLUWALIA CONTRACTS share price has moved up from Rs 353.8 to Rs 333.0, registering a Loss of Rs 20.8 or around 5.9%.

Meanwhile, the S&P BSE REALTY Index is trading at Rs 2,122.6 (down 0.1%). Over the last one year it has moved down from 2,211.8 to 2,122.6, a gain of 89 points (down 4.0%).

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 333.0, the price to earnings (P/E) ratio of AHLUWALIA CONTRACTS stands at 19.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.