CEAT LTD. Announces Quarterly Results (2QFY20); Net Profit Down 32.2%

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CEAT LTD. Announces Quarterly Results (2QFY20); Net Profit Down 32.2%
Fri, 25 Oct

CEAT LTD. has announced its results for the quarter ended September 2019. Here is a detailed performance review of the same:

CEAT LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m17,54617,52116,916-3.5%-3.6%
Other incomeRs m3312043-64.4%30.0%
TurnoverRs m17,57917,64116,958-3.9%-3.5%
ExpensesRs m15,95415,85015,212-4.0%-4.7%
Gross profitRs m1,5731,6651,6961.8%7.8%
DepreciationRs m4776446714.1%40.7%
InterestRs m1863493747.2%101.3%
Profit before taxRs m943792693-12.4%-26.4%
TaxRs m370223051274.8%-17.5%
Profit after taxRs m573770388-49.6%-32.2%
Gross profit margin%9.09.510.0
Effective tax rate%39.32.844.0
Net profit margin%3.34.42.3
* 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 3.6% on a year-on-year (YoY) basis. The expenses were down by 4.7% YoY during the same period.
  • The company's operating profit increased by 7.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 2QFY20 as against 9.0% in 2QFY19.
  • Depreciation charges increased by 40.7% and finance costs increased by 101.3% YoY, respectively.
  • Other income increased by 30.0% YoY during the quarter.
  • Net profit for the quarter declined by 32.2% YoY. Net profit margins during the quarter declined from 3.3% in 2QFY19 to 2.3% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.0% QoQ during the same period.
  • The company's operating profit increased by 1.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.0% in 2QFY20 as against 9.5% in 1QFY19.
  • Net profit for the quarter declined by 49.6% QoQ, while net profit margins declined from 4.4% in 1QFY19 to 2.3% in 2QFY20.

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

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CEAT LTD. Share Price Performance

Over the last one year,CEAT LTD. share price has moved down from Rs 1,019.0 to Rs 950.3, registering a Loss of Rs 68.8 or around 6.7%.

Overall, the S&P BSE SENSEX is up 14.6% over the year.

Current Valuations

At the current price of Rs 950.3, the price to earnings (P/E) ratio of CEAT LTD. stands at 17.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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CEAT LTD. Announces Quarterly Results (1QFY20); Net Profit Up 15.5% (Quarterly Result Update)

Aug 2, 2019 | Updated on Aug 2, 2019

For the quarter ended June 2019, CEAT LTD. has posted a net profit of Rs 770 m (up 15.5% YoY). Sales on the other hand came in at Rs 18 bn (up 2.7% YoY). Read on for a complete analysis of CEAT LTD.'s quarterly results.

CEAT LTD. Announces Quarterly Results (4QFY19); Net Profit Down 20.5% (Quarterly Result Update)

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