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CEAT LTD. Announces Quarterly Results (1QFY19); Net Profit Down 3021.9%

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CEAT LTD. Announces Quarterly Results (1QFY19); Net Profit Down 3021.9%
Thu, 26 Jul

CEAT LTD. has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

CEAT LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m16,28616,73917,0631.9%4.8%
Other incomeRs m1036937-47.1%-64.4%
TurnoverRs m16,39016,80817,1001.7%4.3%
ExpensesRs m15,74014,76315,3053.7%-2.8%
Gross profitRs m5431,7821,735-2.6%219.5%
DepreciationRs m3964484602.7%16.2%
InterestRs m226238204-14.4%-9.7%
Profit before taxRs m251,1651,108-4.9%4387.0%
TaxRs m4839744211.3%830.7%
Profit after taxRs m-23768666-13.3%
Gross profit margin%3.310.610.2
Effective tax rate%192.334.139.9
Net profit margin%-0.14.63.9
* 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 4.8% on a year-on-year (YoY) basis. The expenses were down by 2.8% YoY during the same period.
  • The company's operating profit increased by 219.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.2% in 1QFY19 as against 3.3% in 1QFY18.
  • Depreciation charges and finance costs increased by 16.2% YoY and 9.7% YoY, respectively.
  • Other income declined by 64.4% YoY during the quarter.
  • Net profit for the quarter declined by 3021.9% YoY. Net profit margins during the quarter increased from -0.1% in 1QFY18 to 3.9% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.7% QoQ during the same period.
  • The company's operating profit declined by 2.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 10.2% in 1QFY19 as against 10.6% in 4QFY18.
  • Net profit for the quarter declined by 13.3% QoQ, while net profit margins declined from 4.6% in 4QFY18 to 3.9% in 1QFY19.

To see how CEAT LTD. has performed over the last eight quarters, please visit here.

CEAT LTD. Share Price Performance

Over the last one year, CEAT LTD. share price has moved up from Rs 1,873.1 to Rs 1,353.5, registering a Loss of Rs 519.6 or around 27.7%.

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 1,353.5, the price to earnings (P/E) ratio of CEAT LTD. stands at 18.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.1 times.

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For the quarter ended December 2018, CEAT LTD. has posted a net profit of Rs 459 m (down 44.0% YoY). Sales on the other hand came in at Rs 17 bn (up 8.9% YoY). Read on for a complete analysis of CEAT LTD.'s quarterly results.

CEAT LTD. Announces Quarterly Results (2QFY19); Net Profit Down 13.9% (Quarterly Result Update)

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