CEAT LTD. Announces Quarterly Results (3QFY20); Net Profit Up 4.2%

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CEAT LTD. Announces Quarterly Results (3QFY20); Net Profit Up 4.2%
Fri, 24 Jan

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

CEAT LTD. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m17,13916,91617,6184.2%2.8%
Other incomeRs m404336-16.0%-11.2%
TurnoverRs m17,18016,95817,6534.1%2.8%
ExpensesRs m15,71415,21215,7863.8%0.5%
Gross profitRs m1,4261,6961,8307.9%28.3%
DepreciationRs m4826717055.2%46.2%
InterestRs m2223743801.6%71.3%
Profit before taxRs m76269378012.5%2.4%
TaxRs m302305301-1.2%-0.3%
Profit after taxRs m45938847923.3%4.2%
Gross profit margin%8.310.010.4
Effective tax rate%39.744.038.6
Net profit margin%2.72.32.7
* 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 grew 2.8% on a year-on-year (YoY) basis. The expenses were up by 0.5% YoY during the same period.
  • The company's operating profit increased by 28.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.4% in 3QFY20 as against 8.3% in 3QFY19.
  • Depreciation charges increased by 46.2% and finance costs increased by 71.3% YoY, respectively.
  • Other income declined by 11.2% YoY during the quarter.
  • Net profit for the quarter increased by 4.2% YoY. Net profit margins during the quarter increased from 2.7% in 3QFY19 to 2.7% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 3.8% QoQ during the same period.
  • The company's operating profit increased by 7.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 10.4% in 3QFY20 as against 10.0% in 2QFY19.
  • Net profit for the quarter increased by 23.3% QoQ, while net profit margins increased from 2.3% in 2QFY19 to 2.7% in 3QFY20.

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 1,219.2 to Rs 1,019.0, registering a Loss of Rs 200.2 or around 16.4%.

Overall, the S&P BSE SENSEX is up 14.9% over the year.

Current Valuations

At the current price of Rs 1,019.0, the price to earnings (P/E) ratio of CEAT LTD. stands at 18.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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Related Views on News

CEAT LTD. Announces Quarterly Results (1QFY21); Net Profit Down 150.3% (Quarterly Result Update)

Aug 25, 2020 | Updated on Aug 25, 2020

For the quarter ended June 2020, CEAT LTD. has posted a net profit of Rs 387 m (down 150.3% YoY). Sales on the other hand came in at Rs 11 bn (down 36.1% YoY). Read on for a complete analysis of CEAT LTD.'s quarterly results.

CEAT LTD. Announces Quarterly Results (4QFY20); Net Profit Down 19.4% (Quarterly Result Update)

May 29, 2020 | Updated on May 29, 2020

For the quarter ended March 2020, CEAT LTD. has posted a net profit of Rs 492 m (down 19.4% YoY). Sales on the other hand came in at Rs 16 bn (down 10.6% YoY). Read on for a complete analysis of CEAT LTD.'s quarterly results.

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