ULTRATECH CEMENT Announces Quarterly Results (2QFY19); Net Profit Down 11.3%

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ULTRATECH CEMENT Announces Quarterly Results (2QFY19); Net Profit Down 11.3%
Tue, 23 Oct

ULTRATECH CEMENT has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

ULTRATECH CEMENT Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m69,36190,21481,515-9.6%17.5%
Other incomeRs m1,5527272,202203.1%41.9%
TurnoverRs m70,91390,94183,717-7.9%18.1%
ExpensesRs m55,41673,31069,252-5.5%25.0%
Gross profitRs m13,94616,90412,263-27.5%-12.1%
DepreciationRs m5,2165,0675,3575.7%2.7%
InterestRs m3,8833,4853,5391.6%-8.8%
Profit before taxRs m6,3999,0795,569-38.7%-13.0%
TaxRs m2,1622,7691,811-34.6%-16.2%
Profit after taxRs m4,2386,3103,758-40.5%-11.3%
Gross profit margin%20.118.715.0
Effective tax rate%33.830.532.5
Net profit margin%6.06.94.5
* 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 grew 17.5% on a year-on-year (YoY) basis. The expenses were up by 25.0% YoY during the same period.
  • The company's operating profit declined by 12.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 2QFY19 as against 20.1% in 2QFY18.
  • Depreciation charges increased by 2.7% and finance costs decreased by 8.8% YoY, respectively.
  • Other income increased by 41.9% YoY during the quarter.
  • Net profit for the quarter declined by 11.3% YoY. Net profit margins during the quarter declined from 6.0% in 2QFY18 to 4.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 9.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.5% QoQ during the same period.
  • The company's operating profit declined by 27.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 15.0% in 2QFY19 as against 18.7% in 1QFY18.
  • Net profit for the quarter declined by 40.5% QoQ, while net profit margins declined from 6.9% in 1QFY18 to 4.5% in 2QFY19.

To see how ULTRATECH CEMENT has performed over the last eight quarters, please visit here.

ULTRATECH CEMENT Share Price Performance

Over the last one year, ULTRATECH CEMENT share price has moved up from Rs 4,209.1 to Rs 3,397.3, registering a Loss of Rs 811.8 or around 19.3%.

Overall, the S&P BSE SENSEX is up 4.7% over the year.

Current Valuations

At the current price of Rs 3,397.3, the price to earnings (P/E) ratio of ULTRATECH CEMENT stands at 48.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.5 times.

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