ASHOK LEYLAND Announces Quarterly Results (1QFY20); Net Profit Down 37.8%

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ASHOK LEYLAND Announces Quarterly Results (1QFY20); Net Profit Down 37.8%
Tue, 6 Aug

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

ASHOK LEYLAND Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m62,50188,45956,839-35.7%-9.1%
Other incomeRs m50091211132.0%-57.8%
TurnoverRs m63,00188,55057,049-35.6%-9.4%
ExpensesRs m56,02678,60551,469-34.5%-8.1%
Gross profitRs m6,2669,7385,169-46.9%-17.5%
DepreciationRs m1,4301,5981,6463.1%15.1%
InterestRs m116166126-24.4%8.3%
Profit before taxRs m5,2208,0653,607-55.3%-30.9%
TaxRs m1,5191,5351,305-15.0%-14.1%
Profit after taxRs m3,7016,5302,302-64.7%-37.8%
Gross profit margin%10.011.09.1
Effective tax rate%29.119.036.2
Net profit margin%5.97.44.0
* 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 9.1% on a year-on-year (YoY) basis. The expenses were down by 8.1% YoY during the same period.
  • The company's operating profit declined by 17.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 1QFY20 as against 10.0% in 1QFY19.
  • Depreciation charges increased by 15.1% and finance costs increased by 8.3% YoY, respectively.
  • Other income declined by 57.8% YoY during the quarter.
  • Net profit for the quarter declined by 37.8% YoY. Net profit margins during the quarter declined from 5.9% in 1QFY19 to 4.0% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 35.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 34.5% QoQ during the same period.
  • The company's operating profit declined by 46.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.1% in 1QFY20 as against 11.0% in 4QFY19.
  • Net profit for the quarter declined by 64.7% QoQ, while net profit margins declined from 7.4% in 4QFY19 to 4.0% in 1QFY20.

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

ASHOK LEYLAND Share Price Performance

Over the last one year,ASHOK LEYLAND share price has moved down from Rs 118.3 to Rs 64.3, registering a Loss of Rs 54.0 or around 45.6%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 15,616.0 (up 1.2%). Over the last one year it has moved down from 24,220.8 to 15,616.0, a gain of 8,605 points (down 35.5%).

Overall, the S&P BSE SENSEX is down 2.3% over the year.

Current Valuations

At the current price of Rs 64.3, the price to earnings (P/E) ratio of ASHOK LEYLAND stands at 10.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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