ASIAN PAINTS Announces Quarterly Results (2QFY20); Net Profit Up 66.6%

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ASIAN PAINTS Announces Quarterly Results (2QFY20); Net Profit Up 66.6%
Thu, 24 Oct

ASIAN PAINTS has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m46,39151,30650,507-1.6%8.9%
Other incomeRs m6337361,05243.0%66.1%
TurnoverRs m47,02452,04251,558-0.9%9.6%
ExpensesRs m38,54939,74440,9583.1%6.3%
Gross profitRs m7,84211,5639,548-17.4%21.8%
DepreciationRs m9471,9261,9722.4%108.1%
InterestRs m121268259-3.0%114.0%
Profit before taxRs m7,40610,1048,369-17.2%13.0%
TaxRs m2,4273,50572-97.9%-97.0%
Profit after taxRs m4,9796,5998,29625.7%66.6%
Gross profit margin%16.922.518.9
Effective tax rate%32.834.70.9
Net profit margin%10.612.716.1
* 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 grew 8.9% on a year-on-year (YoY) basis. The expenses were up by 6.3% YoY during the same period.
  • The company's operating profit increased by 21.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 18.9% in 2QFY20 as against 16.9% in 2QFY19.
  • Depreciation charges increased by 108.1% and finance costs increased by 114.0% YoY, respectively.
  • Other income increased by 66.1% YoY during the quarter.
  • Net profit for the quarter increased by 66.6% YoY. Net profit margins during the quarter increased from 10.6% in 2QFY19 to 16.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.6% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.1% QoQ during the same period.
  • The company's operating profit declined by 17.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.9% in 2QFY20 as against 22.5% in 1QFY19.
  • Net profit for the quarter increased by 25.7% QoQ, while net profit margins increased from 12.7% in 1QFY19 to 16.1% in 2QFY20.

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

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ASIAN PAINTS Share Price Performance

Over the last one year,ASIAN PAINTS share price has moved up from Rs 1,190.0 to Rs 1,770.8, registering a Gain of Rs 580.9 or around 48.8%.

Overall, the S&P BSE SENSEX is up 15.8% over the year.

Current Valuations

At the current price of Rs 1,770.8, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 65.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 17.8 times.

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