APAR INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Down 15.5%

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APAR INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Down 15.5%
Wed, 30 Jan

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

APAR INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m14,07918,84721,19112.4%50.5%
Other incomeRs m333331-3.7%-5.4%
TurnoverRs m14,11318,87921,22212.4%50.4%
ExpensesRs m13,11717,75820,04712.9%52.8%
Gross profitRs m9631,0891,1445.0%18.8%
DepreciationRs m1241631715.0%38.1%
InterestRs m244526417-20.8%71.1%
Profit before taxRs m62843358735.8%-6.5%
TaxRs m21814624064.2%10.3%
Profit after taxRs m41128634721.3%-15.5%
Gross profit margin%6.85.85.4
Effective tax rate%34.633.840.9
Net profit margin%2.91.51.6
* 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 50.5% on a year-on-year (YoY) basis. The expenses were up by 52.8% YoY during the same period.
  • The company's operating profit increased by 18.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.4% in 3QFY19 as against 6.8% in 3QFY18.
  • Depreciation charges increased by 38.1% and finance costs increased by 71.1% YoY, respectively.
  • Other income declined by 5.4% YoY during the quarter.
  • Net profit for the quarter declined by 15.5% YoY. Net profit margins during the quarter declined from 2.9% in 3QFY18 to 1.6% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 12.9% QoQ during the same period.
  • The company's operating profit declined by 5.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 5.4% in 3QFY19 as against 5.8% in 2QFY18.
  • Net profit for the quarter increased by 21.3% QoQ, while net profit margins increased from 1.5% in 2QFY18 to 1.6% in 3QFY19.

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 761.3 to Rs 615.0, registering a Loss of Rs 146.3 or around 19.2%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,188.9 (up 1.6%). Over the last one year it has moved down from 20,594.9 to 17,188.9, a gain of 3,406 points (down 16.5%).

Overall, the S&P BSE SENSEX is down 1.7% over the year.

Current Valuations

At the current price of Rs 615.0, the price to earnings (P/E) ratio of APAR INDUSTRIES stands at 18.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.2 times.

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