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DEEPAK FERTILISERS Announces Quarterly Results (2QFY19); Net Profit Down 58.7%

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DEEPAK FERTILISERS Announces Quarterly Results (2QFY19); Net Profit Down 58.7%
Thu, 15 Nov

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

DEEPAK FERTILISERS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m12,31322,26217,687-20.5%43.6%
Other incomeRs m267613780.6%427.3%
TurnoverRs m12,33922,33817,824-20.2%44.5%
ExpensesRs m10,87520,78116,537-20.4%52.1%
Gross profitRs m1,4391,4811,151-22.3%-20.0%
DepreciationRs m3914194261.7%8.9%
InterestRs m4295735750.3%33.8%
Profit before taxRs m644565287-49.2%-55.5%
TaxRs m17219292-52.3%-46.7%
Profit after taxRs m472372195-47.6%-58.7%
Gross profit margin%11.76.76.5
Effective tax rate%26.734.032.0
Net profit margin%3.81.71.1
* 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 43.6% on a year-on-year (YoY) basis. The expenses were up by 52.1% YoY during the same period.
  • The company's operating profit declined by 20.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.5% in 2QFY19 as against 11.7% in 2QFY18.
  • Depreciation charges increased by 8.9% and finance costs increased by 33.8% YoY, respectively.
  • Other income increased by 427.3% YoY during the quarter.
  • Net profit for the quarter declined by 58.7% YoY. Net profit margins during the quarter declined from 3.8% in 2QFY18 to 1.1% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 20.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 20.4% QoQ during the same period.
  • The company's operating profit declined by 22.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 6.5% in 2QFY19 as against 6.7% in 1QFY18.
  • Net profit for the quarter declined by 47.6% QoQ, while net profit margins declined from 1.7% in 1QFY18 to 1.1% in 2QFY19.

To see how DEEPAK FERTILISERS has performed over the last eight quarters, please visit here.

DEEPAK FERTILISERS Share Price Performance

Over the last one year, DEEPAK FERTILISERS share price has moved up from Rs 400.9 to Rs 191.5, registering a Loss of Rs 209.4 or around 52.2%.

Overall, the S&P BSE SENSEX is up 6.8% over the year.

Current Valuations

At the current price of Rs 191.5, the price to earnings (P/E) ratio of DEEPAK FERTILISERS stands at 11.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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For the quarter ended June 2018, DEEPAK FERTILISERS has posted a net profit of Rs 372 m (down 0.5% YoY). Sales on the other hand came in at Rs 22 bn (up 73.9% YoY). Read on for a complete analysis of DEEPAK FERTILISERS's quarterly results.

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