ASIAN PAINTS Announces Quarterly Results (1QFY21); Net Profit Down 64.6%

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ASIAN PAINTS Announces Quarterly Results (1QFY21); Net Profit Down 64.6%
Thu, 30 Jul

ASIAN PAINTS has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m51,30646,35629,227-37.0%-43.0%
Other incomeRs m736558471-15.6%-36.0%
TurnoverRs m52,04246,91429,698-36.7%-42.9%
ExpensesRs m39,74437,76024,384-35.4%-38.6%
Gross profitRs m11,5638,5964,843-43.7%-58.1%
DepreciationRs m1,9261,9451,912-1.7%-0.8%
InterestRs m268257201-21.6%-24.7%
Profit before taxRs m10,1046,9533,200-54.0%-68.3%
TaxRs m3,5052,190862-60.7%-75.4%
Profit after taxRs m6,5994,7632,339-50.9%-64.6%
Gross profit margin%22.518.516.6
Effective tax rate%34.731.526.9
Net profit margin%12.710.27.9
* 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 43.0% on a year-on-year (YoY) basis. The expenses were down by 38.6% YoY during the same period.
  • The company's operating profit declined by 58.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.6% in 1QFY21 as against 22.5% in 1QFY20.
  • Depreciation charges declined by 0.8% and finance costs declined by 24.7% YoY, respectively.
  • Other income declined by 36.0% YoY during the quarter.
  • Net profit for the quarter declined by 64.6% YoY. Net profit margins during the quarter declined from 12.7% in 1QFY20 to 7.9% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 37.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 35.4% QoQ during the same period.
  • The company's operating profit declined by 43.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.6% in 1QFY21 as against 18.5% in 4QFY20.
  • Net profit for the quarter declined by 50.9% QoQ, while net profit margins declined from 10.2% in 4QFY20 to 7.9% in 1QFY21.

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

Know More: Is India's Economic Recovery Sustainable?

ASIAN PAINTS Share Price Performance

Over the last one year,ASIAN PAINTS share price has moved up from Rs 1,508.1 to Rs 1,762.8, registering a Gain of Rs 254.7 or around 16.9%.

Overall, the S&P BSE SENSEX is up 1.7% over the year.

Current Valuations

At the current price of Rs 1,762.8, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 73.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.8 times.

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