ARVIND Announces Quarterly Results (2QFY20); Net Profit Down 10.9%

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ARVIND Announces Quarterly Results (2QFY20); Net Profit Down 10.9%
Tue, 29 Oct

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

ARVIND Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m17,92918,96519,6223.5%9.4%
Other incomeRs m231208117-43.6%-49.2%
TurnoverRs m18,16019,17219,7393.0%8.7%
ExpensesRs m16,10617,42117,6721.4%9.7%
Gross profitRs m1,6881,4821,99934.9%18.4%
DepreciationRs m5886637279.5%23.6%
InterestRs m539624605-3.0%12.3%
Profit before taxRs m79340278494.9%-1.1%
TaxRs m23416328675.2%22.3%
Profit after taxRs m559239498108.2%-10.9%
Gross profit margin%9.47.810.2
Effective tax rate%29.540.636.5
Net profit margin%3.11.22.5
* 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 9.4% on a year-on-year (YoY) basis. The expenses were up by 9.7% YoY during the same period.
  • The company's operating profit increased by 18.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.2% in 2QFY20 as against 9.4% in 2QFY19.
  • Depreciation charges increased by 23.6% and finance costs increased by 12.3% YoY, respectively.
  • Other income declined by 49.2% YoY during the quarter.
  • Net profit for the quarter declined by 10.9% YoY. Net profit margins during the quarter declined from 3.1% in 2QFY19 to 2.5% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.4% QoQ during the same period.
  • The company's operating profit increased by 34.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.2% in 2QFY20 as against 7.8% in 1QFY19.
  • Net profit for the quarter increased by 108.2% QoQ, while net profit margins increased from 1.2% in 1QFY19 to 2.5% in 2QFY20.

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

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ARVIND Share Price Performance

Over the last one year,ARVIND share price has moved down from Rs 118.0 to Rs 48.1, registering a Loss of Rs 69.9 or around 59.2%.

Overall, the S&P BSE SENSEX is up 16.0% over the year.

Current Valuations

At the current price of Rs 48.1, the price to earnings (P/E) ratio of ARVIND stands at 6.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.3 times.

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