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- BALKRISHNA INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 30.8%
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 Change | YoY Change | |
|---|---|---|---|---|---|---|
| Net Sales | Rs m | 11,935 | 13,573 | 9,287 | -31.6% | -22.2% |
| Other income | Rs m | 716 | 664 | 333 | -49.8% | -53.5% |
| Turnover | Rs m | 12,651 | 14,237 | 9,620 | -32.4% | -24.0% |
| Expenses | Rs m | 9,256 | 9,848 | 6,981 | -29.1% | -24.6% |
| Gross profit | Rs m | 2,678 | 3,726 | 2,306 | -38.1% | -13.9% |
| Depreciation | Rs m | 841 | 983 | 996 | 1.4% | 18.4% |
| Interest | Rs m | 18 | 19 | 24 | 28.0% | 35.2% |
| Profit before tax | Rs m | 2,536 | 3,388 | 1,619 | -52.2% | -36.2% |
| Tax | Rs m | 776 | 815 | 401 | -50.8% | -48.4% |
| Profit after tax | Rs m | 1,760 | 2,573 | 1,218 | -52.7% | -30.8% |
| Gross profit margin | % | 22.4 | 27.4 | 24.8 | ||
| Effective tax rate | % | 30.6 | 24.0 | 24.7 | ||
| Net profit margin | % | 13.9 | 18.1 | 12.7 |
Interim results exclude extraordinary / exceptional items
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.
DISCOVER: How to Potentially Multiply Your Returns by Upto 5x...
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.
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, 2020For 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, 2019For 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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