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APAR INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 4.1%

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APAR INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Up 4.1%
Mon, 12 Nov

APAR INDUSTRIES has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

APAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m11,76014,04618,84734.2%60.3%
Other incomeRs m284533-27.1%16.5%
TurnoverRs m11,78814,09118,87934.0%60.2%
ExpensesRs m10,89813,00117,75836.6%62.9%
Gross profitRs m8681,0451,0894.2%25.5%
DepreciationRs m12114116315.6%34.3%
InterestRs m3535255260.2%49.1%
Profit before taxRs m4214244332.1%2.7%
TaxRs m146150146-2.8%0.0%
Profit after taxRs m2752732864.8%4.1%
Gross profit margin%7.47.45.8
Effective tax rate%34.735.533.8
Net profit margin%2.31.91.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 60.3% on a year-on-year (YoY) basis. The expenses were up by 62.9% YoY during the same period.
  • The company's operating profit increased by 25.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 2QFY19 as against 7.4% in 2QFY18.
  • Depreciation charges increased by 34.3% and finance costs increased by 49.1% YoY, respectively.
  • Other income increased by 16.5% YoY during the quarter.
  • Net profit for the quarter increased by 4.1% YoY. Net profit margins during the quarter declined from 2.3% in 2QFY18 to 1.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 34.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 36.6% QoQ during the same period.
  • The company's operating profit declined by 4.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.8% in 2QFY19 as against 7.4% in 1QFY18.
  • Net profit for the quarter increased by 4.8% QoQ, while net profit margins declined from 1.9% in 1QFY18 to 1.5% in 2QFY19.

To see how APAR INDUSTRIES has performed over the last eight quarters, please visit here.

APAR INDUSTRIES Share Price Performance

Over the last one year, APAR INDUSTRIES share price has moved up from Rs 768.5 to Rs 602.0, registering a Loss of Rs 166.5 or around 21.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,281.2 (up 0.2%). Over the last one year it has moved down from 18,736.1 to 18,281.2, a gain of 455 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 602.0, the price to earnings (P/E) ratio of APAR INDUSTRIES stands at 17.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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For the quarter ended March 2019, APAR INDUSTRIES has posted a net profit of Rs 437 m (up 23.0% YoY). Sales on the other hand came in at Rs 25 bn (up 45.4% YoY). Read on for a complete analysis of APAR INDUSTRIES 's quarterly results.

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