ASHOK LEYLAND Announces Quarterly Results (4QFY19); Net Profit Down 2.2%

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ASHOK LEYLAND Announces Quarterly Results (4QFY19); Net Profit Down 2.2%
Mon, 27 May

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

ASHOK LEYLAND Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m87,72563,25288,45939.9%0.8%
Other incomeRs m57720891-56.3%-84.3%
TurnoverRs m88,30263,46088,55039.5%0.3%
ExpensesRs m77,39856,75678,60538.5%1.6%
Gross profitRs m10,3866,4269,73851.5%-6.2%
DepreciationRs m1,4631,6071,598-0.6%9.2%
InterestRs m201192166-13.4%-17.2%
Profit before taxRs m9,2994,8368,06566.8%-13.3%
TaxRs m2,6261,0271,53549.4%-41.5%
Profit after taxRs m6,6743,8086,53071.5%-2.2%
Gross profit margin%11.810.211.0
Effective tax rate%28.221.219.0
Net profit margin%7.66.07.4
* 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 0.8% on a year-on-year (YoY) basis. The expenses were up by 1.6% YoY during the same period.
  • The company's operating profit declined by 6.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.0% in 4QFY19 as against 11.8% in 4QFY18.
  • Depreciation charges increased by 9.2% and finance costs declined by 17.2% YoY, respectively.
  • Other income declined by 84.3% YoY during the quarter.
  • Net profit for the quarter declined by 2.2% YoY. Net profit margins during the quarter declined from 7.6% in 4QFY18 to 7.4% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 39.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 38.5% QoQ during the same period.
  • The company's operating profit increased by 51.5% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.0% in 4QFY19 as against 10.2% in 3QFY18.
  • Net profit for the quarter increased by 71.5% QoQ, while net profit margins increased from 6.0% in 3QFY18 to 7.4% in 4QFY19.

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 up from Rs 145.2 to Rs 90.8, registering a Loss of Rs 54.4 or around 37.4%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 19,101.3 (up 0.2%). Over the last one year it has moved down from 24,191.6 to 19,101.3, a gain of 5,090 points (down 21.0%).

Overall, the S&P BSE SENSEX is up 14.2% over the year.

Current Valuations

At the current price of Rs 90.8, the price to earnings (P/E) ratio of ASHOK LEYLAND stands at 13.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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