BALKRISHNA IND Announces Quarterly Results (3QFY19); Net Profit Down 23.6%

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BALKRISHNA IND Announces Quarterly Results (3QFY19); Net Profit Down 23.6%
Mon, 11 Feb

BALKRISHNA IND has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

BALKRISHNA IND Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m11,06313,25512,056-9.0%9.0%
Other incomeRs m77790910-98.9%-98.8%
TurnoverRs m11,84114,16312,066-14.8%1.9%
ExpensesRs m8,1639,9299,047-8.9%10.8%
Gross profitRs m2,9003,3263,009-9.5%3.8%
DepreciationRs m7998288340.7%4.3%
InterestRs m192520-18.8%5.3%
Profit before taxRs m2,8593,3822,165-36.0%-24.3%
TaxRs m9641,159718-38.1%-25.5%
Profit after taxRs m1,8952,2231,447-34.9%-23.6%
Gross profit margin%26.225.125.0
Effective tax rate%33.734.333.2
Net profit margin%16.015.712.0
* 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 9.0% on a year-on-year (YoY) basis. The expenses were up by 10.8% YoY during the same period.
  • The company's operating profit increased by 3.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.0% in 3QFY19 as against 26.2% in 3QFY18.
  • Depreciation charges increased by 4.3% and finance costs increased by 5.3% YoY, respectively.
  • Other income declined by 98.8% YoY during the quarter.
  • Net profit for the quarter declined by 23.6% YoY. Net profit margins during the quarter declined from 16.0% in 3QFY18 to 12.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.9% QoQ during the same period.
  • The company's operating profit declined by 9.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 25.0% in 3QFY19 as against 25.1% in 2QFY18.
  • Net profit for the quarter declined by 34.9% QoQ, while net profit margins declined from 15.7% in 2QFY18 to 12.0% in 3QFY19.

To see how BALKRISHNA IND has performed over the last eight quarters, please visit here.

BALKRISHNA IND Share Price Performance

Over the last one year, BALKRISHNA IND share price has moved up from Rs 1,140.5 to Rs 808.4, registering a Loss of Rs 332.1 or around 29.1%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 808.4, the price to earnings (P/E) ratio of BALKRISHNA IND stands at 19.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.8 times.

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Related Views on News

BALKRISHNA INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 23.6% (Quarterly Result Update)

Aug 13, 2019 | Updated on Aug 13, 2019

For the quarter ended June 2019, BALKRISHNA INDUSTRIES has posted a net profit of Rs 2 bn (down 23.6% YoY). Sales on the other hand came in at Rs 12 bn (down 12.4% YoY). Read on for a complete analysis of BALKRISHNA INDUSTRIES's quarterly results.

BALKRISHNA INDUSTRIES Announces Quarterly Results (4QFY19); Net Profit Down 4.6% (Quarterly Result Update)

May 21, 2019 | Updated on May 21, 2019

For the quarter ended March 2019, BALKRISHNA INDUSTRIES has posted a net profit of Rs 2 bn (down 4.6% YoY). Sales on the other hand came in at Rs 14 bn (up 9.7% YoY). Read on for a complete analysis of BALKRISHNA INDUSTRIES's quarterly results.

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