ASIAN PAINTS Announces Quarterly Results (2QFY22); Net Profit Down 29.2%

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ASIAN PAINTS Announces Quarterly Results (2QFY22); Net Profit Down 29.2%
Tue, 26 Oct

ASIAN PAINTS has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m53,50255,85470,96027.0%32.6%
Other incomeRs m8268961,38254.2%67.3%
TurnoverRs m54,32956,75072,34227.5%33.2%
ExpensesRs m40,85046,71861,91632.5%51.6%
Gross profitRs m12,6529,1369,045-1.0%-28.5%
DepreciationRs m1,9362,0062,0281.1%4.7%
InterestRs m20521523911.1%16.3%
Profit before taxRs m11,3377,8118,1604.5%-28.0%
TaxRs m2,9362,0432,2118.2%-24.7%
Profit after taxRs m8,4015,7685,9503.1%-29.2%
Gross profit margin%23.616.412.7
Effective tax rate%25.926.227.1
Net profit margin%15.510.28.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 32.6% on a year-on-year (YoY) basis. The expenses were up by 51.6% YoY during the same period.
  • The company's operating profit declined by 28.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.7% in 2QFY22 as against 23.6% in 2QFY21.
  • Depreciation charges increased by 4.7% and finance costs increased by 16.3% YoY, respectively.
  • Other income increased by 67.3% YoY during the quarter.
  • Net profit for the quarter declined by 29.2% YoY. Net profit margins during the quarter declined from 15.5% in 2QFY21 to 8.2% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 27.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 32.5% QoQ during the same period.
  • The company's operating profit declined by 1.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.7% in 2QFY22 as against 16.4% in 1QFY21.
  • Net profit for the quarter increased by 3.1% QoQ, while net profit margins declined from 10.2% in 1QFY21 to 8.2% in 2QFY22.

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 2,080.7 to Rs 2,922.7, registering a Gain of Rs 842.0 or around 40.5%.

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 2,922.7, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 85.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 21.9 times.

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