ARVIND Announces Quarterly Results (1QFY20); Net Profit Down 62.7%

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ARVIND Announces Quarterly Results (1QFY20); Net Profit Down 62.7%
Wed, 7 Aug

ARVIND has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

ARVIND Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m28,61018,59418,9652.0%-33.7%
Other incomeRs m1361962085.7%52.3%
TurnoverRs m28,74618,79019,1722.0%-33.3%
ExpensesRs m26,14716,75817,4214.0%-33.4%
Gross profitRs m2,3771,7921,482-17.3%-37.7%
DepreciationRs m9176286635.7%-27.7%
InterestRs m7336146241.6%-14.9%
Profit before taxRs m863746402-46.1%-53.4%
TaxRs m2228316397.3%-26.6%
Profit after taxRs m641664239-64.0%-62.7%
Gross profit margin%8.39.67.8
Effective tax rate%25.811.140.6
Net profit margin%2.23.51.2
* 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 fell 33.7% on a year-on-year (YoY) basis. The expenses were down by 33.4% YoY during the same period.
  • The company's operating profit declined by 37.7% YoY during the quarter. Consequently, operating profit margins remained same and stood at 7.8% in 1QFY20.
  • Depreciation charges declined by 27.7% and finance costs declined by 14.9% YoY, respectively.
  • Other income increased by 52.3% YoY during the quarter.
  • Net profit for the quarter declined by 62.7% YoY. Net profit margins during the quarter declined from 2.2% in 1QFY19 to 1.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.0% QoQ during the same period.
  • The company's operating profit declined by 17.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.8% in 1QFY20 as against 9.6% in 4QFY19.
  • Net profit for the quarter declined by 64.0% QoQ, while net profit margins declined from 3.5% in 4QFY19 to 1.2% in 1QFY20.

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

ARVIND Share Price Performance

Over the last one year,ARVIND share price has moved down from Rs 142.6 to Rs 60.4, registering a Loss of Rs 82.3 or around 57.7%.

Overall, the S&P BSE SENSEX is down 1.9% over the year.

Current Valuations

At the current price of Rs 60.4, the price to earnings (P/E) ratio of ARVIND stands at 8.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.4 times.

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