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ASIAN PAINTS Announces Quarterly Results (3QFY19); Net Profit Up 14.7%

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ASIAN PAINTS Announces Quarterly Results (3QFY19); Net Profit Up 14.7%
Thu, 24 Jan

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

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m42,67546,39152,94014.1%24.1%
Other incomeRs m497633452-28.6%-9.0%
TurnoverRs m43,17247,02453,39213.5%23.7%
ExpensesRs m33,76338,54942,51010.3%25.9%
Gross profitRs m8,9127,84210,43033.0%17.0%
DepreciationRs m8969471,15421.8%28.8%
InterestRs m9212114822.0%60.6%
Profit before taxRs m8,4207,4069,58029.4%13.8%
TaxRs m2,9132,4273,26334.5%12.0%
Profit after taxRs m5,5074,9796,31726.9%14.7%
Gross profit margin%20.916.919.7
Effective tax rate%34.632.834.1
Net profit margin%12.810.611.8
* 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 24.1% on a year-on-year (YoY) basis. The expenses were up by 25.9% YoY during the same period.
  • The company's operating profit increased by 17.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 19.7% in 3QFY19 as against 20.9% in 3QFY18.
  • Depreciation charges increased by 28.8% and finance costs increased by 60.6% YoY, respectively.
  • Other income declined by 9.0% YoY during the quarter.
  • Net profit for the quarter increased by 14.7% YoY. Net profit margins during the quarter declined from 12.8% in 3QFY18 to 11.8% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 14.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.3% QoQ during the same period.
  • The company's operating profit increased by 33.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 19.7% in 3QFY19 as against 16.9% in 2QFY18.
  • Net profit for the quarter increased by 26.9% QoQ, while net profit margins increased from 10.6% in 2QFY18 to 11.8% in 3QFY19.

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 1,151.0 to Rs 1,409.4, registering a Gain of Rs 258.4 or around 22.5%.

Overall, the S&P BSE SENSEX is up 0.2% over the year.

Current Valuations

At the current price of Rs 1,409.4, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 62.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 16.1 times.

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For the quarter ended September 2018, ASIAN PAINTS has posted a net profit of Rs 5 bn (down 2.6% YoY). Sales on the other hand came in at Rs 46 bn (up 8.5% YoY). Read on for a complete analysis of ASIAN PAINTS's quarterly results.

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