ASIAN PAINTS Announces Quarterly Results (3QFY20); Net Profit Up 20.4%

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ASIAN PAINTS Announces Quarterly Results (3QFY20); Net Profit Up 20.4%
Thu, 23 Jan

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

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m52,94050,50754,2037.3%2.4%
Other incomeRs m4521,052698-33.6%54.5%
TurnoverRs m53,39251,55854,9016.5%2.8%
ExpensesRs m42,51040,95842,3093.3%-0.5%
Gross profitRs m10,4309,54811,89424.6%14.0%
DepreciationRs m1,1541,9721,9710.0%70.8%
InterestRs m148259241-7.2%62.7%
Profit before taxRs m9,5808,36910,38124.0%8.4%
TaxRs m3,263722,7763739.1%-14.9%
Profit after taxRs m6,3178,2967,605-8.3%20.4%
Gross profit margin%19.718.921.9
Effective tax rate%34.10.926.7
Net profit margin%11.816.113.9
* 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 grew 2.4% on a year-on-year (YoY) basis. The expenses were down by 0.5% YoY during the same period.
  • The company's operating profit increased by 14.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.9% in 3QFY20 as against 19.7% in 3QFY19.
  • Depreciation charges increased by 70.8% and finance costs increased by 62.7% YoY, respectively.
  • Other income increased by 54.5% YoY during the quarter.
  • Net profit for the quarter increased by 20.4% YoY. Net profit margins during the quarter increased from 11.8% in 3QFY19 to 13.9% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.3% QoQ during the same period.
  • The company's operating profit increased by 24.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 21.9% in 3QFY20 as against 18.9% in 2QFY19.
  • Net profit for the quarter declined by 8.3% QoQ, while net profit margins declined from 16.1% in 2QFY19 to 13.9% in 3QFY20.

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

Read Now: When the Dust Settles, This Stock Would Have Potentially Created Millionaires
ASIAN PAINTS Share Price Performance

Over the last one year,ASIAN PAINTS share price has moved up from Rs 1,396.1 to Rs 1,766.3, registering a Gain of Rs 370.2 or around 26.5%.

Overall, the S&P BSE SENSEX is up 13.4% over the year.

Current Valuations

At the current price of Rs 1,766.3, 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 17.8 times.

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