BALKRISHNA INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 30.8%

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BALKRISHNA INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 30.8%
Thu, 10 Sep

BALKRISHNA INDUSTRIES has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

BALKRISHNA INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m11,93513,5739,287-31.6%-22.2%
Other incomeRs m716664333-49.8%-53.5%
TurnoverRs m12,65114,2379,620-32.4%-24.0%
ExpensesRs m9,2569,8486,981-29.1%-24.6%
Gross profitRs m2,6783,7262,306-38.1%-13.9%
DepreciationRs m8419839961.4%18.4%
InterestRs m18192428.0%35.2%
Profit before taxRs m2,5363,3881,619-52.2%-36.2%
TaxRs m776815401-50.8%-48.4%
Profit after taxRs m1,7602,5731,218-52.7%-30.8%
Gross profit margin%22.427.424.8
Effective tax rate%30.624.024.7
Net profit margin%13.918.112.7
* 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 22.2% on a year-on-year (YoY) basis. The expenses were down by 24.6% YoY during the same period.
  • The company's operating profit declined by 13.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 24.8% in 1QFY21 as against 22.4% in 1QFY20.
  • Depreciation charges increased by 18.4% and finance costs increased by 35.2% YoY, respectively.
  • Other income declined by 53.5% YoY during the quarter.
  • Net profit for the quarter declined by 30.8% YoY. Net profit margins during the quarter declined from 13.9% in 1QFY20 to 12.7% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 31.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 29.1% QoQ during the same period.
  • The company's operating profit declined by 38.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 24.8% in 1QFY21 as against 27.4% in 4QFY20.
  • Net profit for the quarter declined by 52.7% QoQ, while net profit margins declined from 18.1% in 4QFY20 to 12.7% in 1QFY21.

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

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BALKRISHNA INDUSTRIES Share Price Performance

Over the last one year,BALKRISHNA INDUSTRIES share price has moved up from Rs 735.4 to Rs 1,276.5, registering a Gain of Rs 541.2 or around 73.6%.

Overall, the S&P BSE SENSEX is up 3.5% over the year.

Current Valuations

At the current price of Rs 1,276.5, the price to earnings (P/E) ratio of BALKRISHNA INDUSTRIES stands at 27.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.0 times.

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Related Views on News

BALKRISHNA INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 52.5% (Quarterly Result Update)

Feb 19, 2020 | Updated on Feb 19, 2020

For the quarter ended December 2019, BALKRISHNA INDUSTRIES has posted a net profit of Rs 2 bn (up 52.5% YoY). Sales on the other hand came in at Rs 12 bn (down 3.7% YoY). Read on for a complete analysis of BALKRISHNA INDUSTRIES's quarterly results.

BALKRISHNA INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Up 30.9% (Quarterly Result Update)

Nov 15, 2019 | Updated on Nov 15, 2019

For the quarter ended September 2019, BALKRISHNA INDUSTRIES has posted a net profit of Rs 3 bn (up 30.9% YoY). Sales on the other hand came in at Rs 11 bn (down 19.2% YoY). Read on for a complete analysis of BALKRISHNA INDUSTRIES's quarterly results.

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