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ASIAN PAINTS Announces Quarterly Results (1QFY19); Net Profit Up 27.8%

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ASIAN PAINTS Announces Quarterly Results (1QFY19); Net Profit Up 27.8%
Wed, 25 Jul

ASIAN PAINTS has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m42,28344,92343,986-2.1%4.0%
Other incomeRs m78339261757.2%-21.3%
TurnoverRs m43,06645,31544,602-1.6%3.6%
ExpensesRs m35,62936,52435,242-3.5%-1.1%
Gross profitRs m6,7448,3998,7454.1%29.7%
DepreciationRs m905914906-0.9%0.1%
InterestRs m809188-3.9%10.2%
Profit before taxRs m6,5437,7868,3687.5%27.9%
TaxRs m2,1602,8772,770-3.7%28.2%
Profit after taxRs m4,3824,9095,59914.1%27.8%
Gross profit margin%15.918.719.9
Effective tax rate%33.037.033.1
Net profit margin%10.210.812.6
* 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 4.0% on a year-on-year (YoY) basis. The expenses were down by 1.1% YoY during the same period.
  • The company's operating profit increased by 29.7% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.9% in 1QFY19 as against 15.9% in 1QFY18.
  • Depreciation charges and finance costs increased by 0.1% YoY and 10.2% YoY, respectively.
  • Other income declined by 21.3% YoY during the quarter.
  • Net profit for the quarter increased by 27.8% YoY. Net profit margins during the quarter increased from 10.2% in 1QFY18 to 12.6% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 3.5% QoQ during the same period.
  • The company's operating profit increased by 4.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.9% in 1QFY19 as against 18.7% in 4QFY18.
  • Net profit for the quarter increased by 14.1% QoQ, while net profit margins increased from 10.8% in 4QFY18 to 12.6% in 1QFY19.

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

ASIAN PAINTS Share Price Performance

Over the last one year, ASIAN PAINTS share price has moved up from Rs 1,152.0 to Rs 1,461.8, registering a Gain of Rs 309.9 or around 26.9%.

Overall, the S&P BSE SENSEX is up 0.1% over the year.

Current Valuations

At the current price of Rs 1,461.8, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 66.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.7 times.

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For the quarter ended December 2018, ASIAN PAINTS has posted a net profit of Rs 6 bn (up 14.7% YoY). Sales on the other hand came in at Rs 53 bn (up 24.1% YoY). Read on for a complete analysis of ASIAN PAINTS's quarterly results.

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