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ARVIND LTD. Announces Quarterly Results (2QFY19); Net Profit Down 13.3%

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ARVIND LTD. Announces Quarterly Results (2QFY19); Net Profit Down 13.3%
Mon, 5 Nov

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

ARVIND LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m26,28528,61017,929-37.3%-31.8%
Other incomeRs m25613623169.3%-9.8%
TurnoverRs m26,54028,74618,160-36.8%-31.6%
ExpensesRs m24,16226,14716,106-38.4%-33.3%
Gross profitRs m2,0782,3771,688-29.0%-18.8%
DepreciationRs m833917588-35.9%-29.5%
InterestRs m620733539-26.5%-13.0%
Profit before taxRs m881863793-8.1%-10.1%
TaxRs m2372222345.2%-1.1%
Profit after taxRs m645641559-12.8%-13.3%
Gross profit margin%7.98.39.4
Effective tax rate%26.825.829.5
Net profit margin%2.42.23.1
* 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 31.8% on a year-on-year (YoY) basis. The expenses were down by 33.3% YoY during the same period.
  • The company's operating profit declined by 18.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.4% in 2QFY19 as against 7.9% in 2QFY18.
  • Depreciation charges declined by 29.5% and finance costs declined by 13.0% YoY, respectively.
  • Other income declined by 9.8% YoY during the quarter.
  • Net profit for the quarter declined by 13.3% YoY. Net profit margins during the quarter increased from 2.4% in 2QFY18 to 3.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 37.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 38.4% QoQ during the same period.
  • The company's operating profit increased by 29.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.4% in 2QFY19 as against 8.3% in 1QFY18.
  • Net profit for the quarter declined by 12.8% QoQ, while net profit margins increased from 2.2% in 1QFY18 to 3.1% in 2QFY19.

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

ARVIND LTD. Share Price Performance

Over the last one year, ARVIND LTD. share price has moved up from Rs 440.8 to Rs 321.1, registering a Loss of Rs 119.7 or around 27.2%.

Overall, the S&P BSE SENSEX is up 4.2% over the year.

Current Valuations

At the current price of Rs 321.1, the price to earnings (P/E) ratio of ARVIND LTD. stands at 26.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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For the quarter ended December 2018, ARVIND LTD. has posted a net profit of Rs 404 m (down 48.5% YoY). Sales on the other hand came in at Rs 17 bn (down 42.2% YoY). Read on for a complete analysis of ARVIND LTD.'s quarterly results.

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