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ARVIND Announces Quarterly Results (4QFY19); Net Profit Down 42.3%

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ARVIND Announces Quarterly Results (4QFY19); Net Profit Down 42.3%
Tue, 21 May

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

ARVIND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m29,90016,80318,59410.7%-37.8%
Other incomeRs m141266196-26.2%39.1%
TurnoverRs m30,04117,06918,79010.1%-37.5%
ExpensesRs m26,98315,30616,7589.5%-37.9%
Gross profitRs m2,9091,3011,79237.7%-38.4%
DepreciationRs m9645836287.6%-34.9%
InterestRs m6745616149.5%-8.9%
Profit before taxRs m1,41242374676.4%-47.1%
TaxRs m2621983335.3%-68.4%
Profit after taxRs m1,15040466464.2%-42.3%
Gross profit margin%9.77.79.6
Effective tax rate%18.54.511.1
Net profit margin%3.82.43.5
* 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 fell 37.8% on a year-on-year (YoY) basis. The expenses were down by 37.9% YoY during the same period.
  • The company's operating profit declined by 38.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 9.6% in 4QFY19.
  • Depreciation charges declined by 34.9% and finance costs declined by 8.9% YoY, respectively.
  • Other income increased by 39.1% YoY during the quarter.
  • Net profit for the quarter declined by 42.3% YoY. Net profit margins during the quarter declined from 3.8% in 4QFY18 to 3.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 10.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 9.5% QoQ during the same period.
  • The company's operating profit increased by 37.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.6% in 4QFY19 as against 7.7% in 3QFY18.
  • Net profit for the quarter increased by 64.2% QoQ, while net profit margins increased from 2.4% in 3QFY18 to 3.5% in 4QFY19.

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 up from Rs 137.8 to Rs 78.9, registering a Loss of Rs 59.0 or around 42.8%.

Overall, the S&P BSE SENSEX is up 13.9% over the year.

Current Valuations

At the current price of Rs 78.9, the price to earnings (P/E) ratio of ARVIND stands at 9.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.5 times.

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