AUTOMOTIVE AXLES Announces Quarterly Results (1QFY20); Net Profit Down 15.1%

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AUTOMOTIVE AXLES Announces Quarterly Results (1QFY20); Net Profit Down 15.1%
Tue, 20 Aug

AUTOMOTIVE AXLES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

AUTOMOTIVE AXLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m4,7384,8114,184-13.0%-11.7%
Other incomeRs m9514190.0%50.3%
TurnoverRs m4,7474,8164,198-12.8%-11.6%
ExpensesRs m4,1794,2263,697-12.5%-11.5%
Gross profitRs m559585468-20.1%-16.4%
DepreciationRs m12510094-6.3%-25.0%
InterestRs m2032392.3%78.0%
Profit before taxRs m442490384-21.5%-13.0%
TaxRs m152190138-27.3%-8.9%
Profit after taxRs m290300246-17.8%-15.1%
Gross profit margin%11.812.211.2
Effective tax rate%34.338.836.0
Net profit margin%6.16.25.9
* 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 fell 11.7% on a year-on-year (YoY) basis. The expenses were down by 11.5% YoY during the same period.
  • The company's operating profit declined by 16.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.2% in 1QFY20 as against 11.8% in 1QFY19.
  • Depreciation charges declined by 25.0% and finance costs increased by 78.0% YoY, respectively.
  • Other income increased by 50.3% YoY during the quarter.
  • Net profit for the quarter declined by 15.1% YoY. Net profit margins during the quarter declined from 6.1% in 1QFY19 to 5.9% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 13.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 12.5% QoQ during the same period.
  • The company's operating profit declined by 20.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.2% in 1QFY20 as against 12.2% in 4QFY19.
  • Net profit for the quarter declined by 17.8% QoQ, while net profit margins declined from 6.2% in 4QFY19 to 5.9% in 1QFY20.

To see how AUTOMOTIVE AXLES has performed over the last eight quarters,please visit here.

AUTOMOTIVE AXLES Share Price Performance

Over the last one year,AUTOMOTIVE AXLES share price has moved down from Rs 1,301.5 to Rs 790.9, registering a Loss of Rs 510.6 or around 39.2%.

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 790.9, the price to earnings (P/E) ratio of AUTOMOTIVE AXLES stands at 10.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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