BINANI INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Down 5200.0%

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BINANI INDUSTRIES Announces Quarterly Results (2QFY19); Net Profit Down 5200.0%
Mon, 5 Nov

BINANI INDUSTRIES has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

BINANI INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m28-5-5-116.1%
Other incomeRs m15111753.1%16.1%
TurnoverRs m43613106.5%-70.2%
ExpensesRs m41-117-129-417.0%
Gross profitRs m-1311212411.4%
DepreciationRs m222-26.1%-15.0%
InterestRs m01461566.9%0.0%
Profit before taxRs m0-25-16-5433.3%
TaxRs m00-10.0%0.0%
Profit after taxRs m0-25-15-5200.0%
Gross profit margin%-45.0-2,186.3-2,760.0
Effective tax rate%0.00.04.4
Net profit margin%0.7-406.5-119.5
* 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 fell 116.1% on a year-on-year (YoY) basis. The expenses were down by 417.0% YoY during the same period.
  • The company's operating profit declined by 1085.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2760.0% in 2QFY19 as against 45.0% in 2QFY18.
  • Depreciation charges declined by 15.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 16.1% YoY during the quarter.
  • Net profit for the quarter declined by 5200.0% YoY. Net profit margins during the quarter declined from 0.7% in 2QFY18 to -119.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 11.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 10.4% QoQ during the same period.
  • The company's operating profit declined by 11.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 2760.0% in 2QFY19 as against 2186.3% in 1QFY18.
  • Net profit for the quarter increased by 39.3% QoQ, while net profit margins increased from -416.7% in 1QFY18 to -119.5% in 2QFY19.

To see how BINANI INDUSTRIES has performed over the last eight quarters, please visit here.

BINANI INDUSTRIES Share Price Performance

Over the last one year, BINANI INDUSTRIES share price has moved up from Rs 90.2 to Rs 80.9, registering a Loss of Rs 9.3 or around 10.3%.

Meanwhile, the S&P BSE METAL Index is trading at Rs 13,084.1 (up 0.1%). Over the last one year it has moved down from 14,943.8 to 13,084.1, a gain of 1,860 points (down 12.4%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 80.9, the price to book value (P/BV) ratio of BINANI INDUSTRIES stands at -0.2 times.

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