EICHER MOTOR Announces Quarterly Results (1QFY21); Net Profit Down 97.7%

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EICHER MOTOR Announces Quarterly Results (1QFY21); Net Profit Down 97.7%
Mon, 14 Sep

EICHER MOTOR has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

EICHER MOTOR Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m23,81922,0828,182-62.9%-65.7%
Other incomeRs m1,2041,4321,142-20.2%-5.1%
TurnoverRs m25,02323,5149,324-60.3%-62.7%
ExpensesRs m17,67517,7608,144-54.1%-53.9%
Gross profitRs m6,1454,32138-99.1%-99.4%
DepreciationRs m8761,089982-9.8%12.1%
InterestRs m475551-8.0%9.0%
Profit before taxRs m6,4264,609147-96.8%-97.7%
TaxRs m2,0741,42645-96.8%-97.8%
Profit after taxRs m4,3523,183102-96.8%-97.7%
Gross profit margin%25.819.60.5
Effective tax rate%32.330.930.6
Net profit margin%17.413.51.1
* 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 fell 65.7% on a year-on-year (YoY) basis. The expenses were down by 53.9% YoY during the same period.
  • The company's operating profit declined by 99.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.5% in 1QFY21 as against 25.8% in 1QFY20.
  • Depreciation charges increased by 12.1% and finance costs increased by 9.0% YoY, respectively.
  • Other income declined by 5.1% YoY during the quarter.
  • Net profit for the quarter declined by 97.7% YoY. Net profit margins during the quarter declined from 17.4% in 1QFY20 to 1.1% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 62.9% on a quarter-on-quarter (QoQ) basis. The expenses were down by 54.1% QoQ during the same period.
  • The company's operating profit declined by 99.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.5% in 1QFY21 as against 19.6% in 4QFY20.
  • Net profit for the quarter declined by 96.8% QoQ, while net profit margins declined from 13.5% in 4QFY20 to 1.1% in 1QFY21.

To see how EICHER MOTOR has performed over the last eight quarters,please visit here.

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EICHER MOTOR Share Price Performance

Over the last one year,EICHER MOTOR share price has moved up from Rs 1,669.5 to Rs 2,164.2, registering a Gain of Rs 494.8 or around 29.6%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 18,014.8 (up 0.2%). Over the last one year it has moved up from 16,541.7 to 18,014.8, a gain of 1,473 points (up 8.9%).

Overall, the S&P BSE SENSEX is up 5.0% over the year.

Current Valuations

At the current price of Rs 2,164.2, the price to earnings (P/E) ratio of EICHER MOTOR stands at 43.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.9 times.

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