ASIAN PAINTS Announces Quarterly Results (4QFY19); Net Profit Down 1.9%

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ASIAN PAINTS Announces Quarterly Results (4QFY19); Net Profit Down 1.9%
Fri, 10 May

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

ASIAN PAINTS Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m44,92352,94050,182-5.2%11.7%
Other incomeRs m39245256925.8%45.0%
TurnoverRs m45,31553,39250,751-4.9%12.0%
ExpensesRs m36,52442,51041,953-1.3%14.9%
Gross profitRs m8,39910,4308,230-21.1%-2.0%
DepreciationRs m9141,1541,30112.8%42.2%
InterestRs m911481533.6%67.8%
Profit before taxRs m7,7869,5807,344-23.3%-5.7%
TaxRs m2,8773,2632,529-22.5%-12.1%
Profit after taxRs m4,9096,3174,816-23.8%-1.9%
Gross profit margin%18.719.716.4
Effective tax rate%37.034.134.4
Net profit margin%10.811.89.5
* 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 11.7% on a year-on-year (YoY) basis. The expenses were up by 14.9% YoY during the same period.
  • The company's operating profit declined by 2.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.4% in 4QFY19 as against 18.7% in 4QFY18.
  • Depreciation charges increased by 42.2% and finance costs increased by 67.8% YoY, respectively.
  • Other income increased by 45.0% YoY during the quarter.
  • Net profit for the quarter declined by 1.9% YoY. Net profit margins during the quarter declined from 10.8% in 4QFY18 to 9.5% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 5.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.3% QoQ during the same period.
  • The company's operating profit declined by 21.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.4% in 4QFY19 as against 19.7% in 3QFY18.
  • Net profit for the quarter declined by 23.8% QoQ, while net profit margins declined from 11.8% in 3QFY18 to 9.5% in 4QFY19.

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 1,214.7 to Rs 1,335.0, registering a Gain of Rs 120.3 or around 9.9%.

Overall, the S&P BSE SENSEX is up 6.6% over the year.

Current Valuations

At the current price of Rs 1,335.0, the price to earnings (P/E) ratio of ASIAN PAINTS stands at 59.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 15.2 times.

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