DCM SHRIRAM Announces Quarterly Results (2QFY20); Net Profit Down 30.2%

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DCM SHRIRAM Announces Quarterly Results (2QFY20); Net Profit Down 30.2%
Fri, 1 Nov

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

DCM SHRIRAM Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m17,00119,02517,529-7.9%3.1%
Other incomeRs m17224231831.6%84.8%
TurnoverRs m17,17319,26617,847-7.4%3.9%
ExpensesRs m14,03815,52615,415-0.7%9.8%
Gross profitRs m2,9723,5012,114-39.6%-28.9%
DepreciationRs m3765025326.0%41.5%
InterestRs m41136842214.8%2.7%
Profit before taxRs m2,3572,8731,477-48.6%-37.3%
TaxRs m670671300-55.3%-55.2%
Profit after taxRs m1,6872,2021,177-46.5%-30.2%
Gross profit margin%17.518.412.1
Effective tax rate%28.423.420.3
Net profit margin%9.811.46.6
* 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 3.1% on a year-on-year (YoY) basis. The expenses were up by 9.8% YoY during the same period.
  • The company's operating profit declined by 28.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 2QFY20 as against 17.5% in 2QFY19.
  • Depreciation charges increased by 41.5% and finance costs increased by 2.7% YoY, respectively.
  • Other income increased by 84.8% YoY during the quarter.
  • Net profit for the quarter declined by 30.2% YoY. Net profit margins during the quarter declined from 9.8% in 2QFY19 to 6.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 7.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 0.7% QoQ during the same period.
  • The company's operating profit declined by 39.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 2QFY20 as against 18.4% in 1QFY19.
  • Net profit for the quarter declined by 46.5% QoQ, while net profit margins declined from 11.4% in 1QFY19 to 6.6% in 2QFY20.

To see how DCM SHRIRAM has performed over the last eight quarters,please visit here.

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DCM SHRIRAM Share Price Performance

Over the last one year,DCM SHRIRAM share price has moved down from Rs 406.1 to Rs 377.5, registering a Loss of Rs 28.6 or around 7.0%.

Overall, the S&P BSE SENSEX is up 16.6% over the year.

Current Valuations

At the current price of Rs 377.5, the price to earnings (P/E) ratio of DCM SHRIRAM stands at 7.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.8 times.

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For the quarter ended December 2020, DCM SHRIRAM has posted a net profit of Rs 3 bn (up 44.2% YoY). Sales on the other hand came in at Rs 21 bn (down 2.6% YoY). Read on for a complete analysis of DCM SHRIRAM's quarterly results.

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