BHARAT FORGE Announces Quarterly Results (3QFY20); Net Profit Down 58.7%

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BHARAT FORGE Announces Quarterly Results (3QFY20); Net Profit Down 58.7%
Mon, 17 Feb

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

BHARAT FORGE Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m16,92512,59510,767-14.5%-36.4%
Other incomeRs m478495398-19.7%-16.9%
TurnoverRs m17,40413,09011,165-14.7%-35.8%
ExpensesRs m11,6679,3938,411-10.5%-27.9%
Gross profitRs m5,2583,2012,356-26.4%-55.2%
DepreciationRs m907893823-7.9%-9.3%
InterestRs m13629135622.1%162.6%
Profit before taxRs m4,6952,5121,575-37.3%-66.5%
TaxRs m1,59663297370.2%-81.4%
Profit after taxRs m3,0982,4491,278-47.8%-58.7%
Gross profit margin%31.125.421.9
Effective tax rate%34.02.518.8
Net profit margin%17.818.711.4
* 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 36.4% on a year-on-year (YoY) basis. The expenses were down by 27.9% YoY during the same period.
  • The company's operating profit declined by 55.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.9% in 3QFY20 as against 31.1% in 3QFY19.
  • Depreciation charges declined by 9.3% and finance costs increased by 162.6% YoY, respectively.
  • Other income declined by 16.9% YoY during the quarter.
  • Net profit for the quarter declined by 58.7% YoY. Net profit margins during the quarter declined from 17.8% in 3QFY19 to 11.4% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 14.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.5% QoQ during the same period.
  • The company's operating profit declined by 26.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 21.9% in 3QFY20 as against 25.4% in 2QFY19.
  • Net profit for the quarter declined by 47.8% QoQ, while net profit margins declined from 18.7% in 2QFY19 to 11.4% in 3QFY20.

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

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BHARAT FORGE Share Price Performance

Over the last one year,BHARAT FORGE share price has moved up from Rs 467.7 to Rs 483.5, registering a Gain of Rs 15.8 or around 3.4%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 483.5, the price to earnings (P/E) ratio of BHARAT FORGE stands at 26.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.2 times.

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