ASIAN PAINTS Announces Quarterly Results (3QFY21); Net Profit Up 63.1%

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ASIAN PAINTS Announces Quarterly Results (3QFY21); Net Profit Up 63.1%
Fri, 22 Jan

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

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m54,20353,50267,88526.9%25.2%
Other incomeRs m69882697918.5%40.2%
TurnoverRs m54,90154,32968,86426.8%25.4%
ExpensesRs m42,30940,85050,00622.4%18.2%
Gross profitRs m11,89412,65217,87941.3%50.3%
DepreciationRs m1,9711,9361,932-0.2%-2.0%
InterestRs m2412052113.0%-12.2%
Profit before taxRs m10,38111,33716,71547.4%61.0%
TaxRs m2,7762,9364,31446.9%55.4%
Profit after taxRs m7,6058,40112,40147.6%63.1%
Gross profit margin%21.923.626.3
Effective tax rate%26.725.925.8
Net profit margin%13.915.518.0
* 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 25.2% on a year-on-year (YoY) basis. The expenses were up by 18.2% YoY during the same period.
  • The company's operating profit increased by 50.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.3% in 3QFY21 as against 21.9% in 3QFY20.
  • Depreciation charges declined by 2.0% and finance costs declined by 12.2% YoY, respectively.
  • Other income increased by 40.2% YoY during the quarter.
  • Net profit for the quarter increased by 63.1% YoY. Net profit margins during the quarter increased from 13.9% in 3QFY20 to 18.0% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 26.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 22.4% QoQ during the same period.
  • The company's operating profit increased by 41.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 26.3% in 3QFY21 as against 23.6% in 2QFY20.
  • Net profit for the quarter increased by 47.6% QoQ, while net profit margins increased from 15.5% in 2QFY20 to 18.0% in 3QFY21.

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 1,778.3 to Rs 2,662.1, registering a Gain of Rs 883.8 or around 49.7%.

Overall, the S&P BSE SENSEX is up 18.7% over the year.

Current Valuations

At the current price of Rs 2,662.1, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 91.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 25.2 times.

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