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BHARAT FORGE Announces Quarterly Results (1QFY19); Net Profit Up 33.9%

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BHARAT FORGE Announces Quarterly Results (1QFY19); Net Profit Up 33.9%
Fri, 10 Aug

BHARAT FORGE has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

BHARAT FORGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m12,57814,66614,7970.9%17.6%
Other incomeRs m2593423430.1%32.1%
TurnoverRs m12,83715,00815,1390.9%17.9%
ExpensesRs m9,24510,48910,5110.2%13.7%
Gross profitRs m3,3332,8454,28650.7%28.6%
DepreciationRs m77470582416.8%6.4%
InterestRs m185303253-16.6%36.4%
Profit before taxRs m2,6332,1793,55263.0%34.9%
TaxRs m8821,1751,2072.7%36.8%
Profit after taxRs m1,7511,0032,345133.7%33.9%
Gross profit margin%26.519.429.0
Effective tax rate%33.553.934.0
Net profit margin%13.66.715.5
* 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 17.6% on a year-on-year (YoY) basis. The expenses were up by 13.7% YoY during the same period.
  • The company's operating profit increased by 28.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.0% in 1QFY19 as against 26.5% in 1QFY18.
  • Depreciation charges and finance costs increased by 6.4% YoY and 36.4% YoY, respectively.
  • Other income increased by 32.1% YoY during the quarter.
  • Net profit for the quarter increased by 33.9% YoY. Net profit margins during the quarter increased from 13.6% in 1QFY18 to 15.5% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 0.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.2% QoQ during the same period.
  • The company's operating profit increased by 50.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.0% in 1QFY19 as against 19.4% in 4QFY18.
  • Net profit for the quarter increased by 133.7% QoQ, while net profit margins increased from 6.7% in 4QFY18 to 15.5% in 1QFY19.

To see how BHARAT FORGE has performed over the last eight quarters, please visit here.

BHARAT FORGE Share Price Performance

Over the last one year, BHARAT FORGE share price has moved up from Rs 571.1 to Rs 628.0, registering a Gain of Rs 56.9 or around 10.0%.

Overall, the S&P BSE SENSEX is up 19.1% over the year.

Current Valuations

At the current price of Rs 628.0, the price to earnings (P/E) ratio of BHARAT FORGE stands at 38.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.3 times.

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For the quarter ended December 2018, BHARAT FORGE has posted a net profit of Rs 3 bn (up 35.8% YoY). Sales on the other hand came in at Rs 17 bn (up 21.7% YoY). Read on for a complete analysis of BHARAT FORGE's quarterly results.

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