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

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BALKRISHNA INDUSTRIES Announces Quarterly Results (3QFY20); Net Profit Up 52.5%
Wed, 19 Feb

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

BALKRISHNA INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m12,05610,71211,6058.3%-3.7%
Other incomeRs m10807301-62.8%2999.0%
TurnoverRs m12,06611,51911,9063.4%-1.3%
ExpensesRs m9,0478,0378,1901.9%-9.5%
Gross profitRs m3,0092,6753,41527.7%13.5%
DepreciationRs m8349089494.5%13.8%
InterestRs m2017196.3%-7.0%
Profit before taxRs m2,1652,5572,7487.5%26.9%
TaxRs m718-353542-24.6%
Profit after taxRs m1,4472,9102,207-24.2%52.5%
Gross profit margin%25.025.029.4
Effective tax rate%33.2-13.819.7
Net profit margin%12.025.318.5
* 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 3.7% on a year-on-year (YoY) basis. The expenses were down by 9.5% YoY during the same period.
  • The company's operating profit increased by 13.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.4% in 3QFY20 as against 25.0% in 3QFY19.
  • Depreciation charges increased by 13.8% and finance costs declined by 7.0% YoY, respectively.
  • Other income increased by 2999.0% YoY during the quarter.
  • Net profit for the quarter increased by 52.5% YoY. Net profit margins during the quarter increased from 12.0% in 3QFY19 to 18.5% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 8.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.9% QoQ during the same period.
  • The company's operating profit increased by 27.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 29.4% in 3QFY20 as against 25.0% in 2QFY19.
  • Net profit for the quarter declined by 24.2% QoQ, while net profit margins declined from 25.3% in 2QFY19 to 18.5% in 3QFY20.

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

Know More: Which way are the markets & the mutual fund industry headed?

BALKRISHNA INDUSTRIES Share Price Performance

Over the last one year,BALKRISHNA INDUSTRIES share price has moved up from Rs 816.9 to Rs 1,257.5, registering a Gain of Rs 440.6 or around 53.9%.

Overall, the S&P BSE SENSEX is up 16.1% over the year.

Current Valuations

At the current price of Rs 1,257.5, the price to earnings (P/E) ratio of BALKRISHNA INDUSTRIES stands at 27.9 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 (1QFY21); Net Profit Down 30.8% (Quarterly Result Update)

Sep 10, 2020 | Updated on Sep 10, 2020

For the quarter ended June 2020, BALKRISHNA INDUSTRIES has posted a net profit of Rs 1 bn (down 30.8% YoY). Sales on the other hand came in at Rs 9 bn (down 22.2% 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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