EVEREST INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 173.9%

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EVEREST INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 173.9%
Tue, 29 Oct

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

EVEREST INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m3,1284,3152,863-33.6%-8.5%
Other incomeRs m123025-17.1%100.8%
TurnoverRs m3,1404,3442,888-33.5%-8.0%
ExpensesRs m2,9453,9062,881-26.2%-2.2%
Gross profitRs m183409-18-104.3%-109.6%
DepreciationRs m566059-0.8%5.2%
InterestRs m24162449.1%2.5%
Profit before taxRs m115363-76-121.0%-166.1%
TaxRs m28112-12-110.6%-142.0%
Profit after taxRs m87251-64-125.6%-173.9%
Gross profit margin%5.89.5-0.6
Effective tax rate%24.430.815.5
Net profit margin%2.85.8-2.2
* 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 8.5% on a year-on-year (YoY) basis. The expenses were down by 2.2% YoY during the same period.
  • The company's operating profit declined by 109.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.6% in 2QFY20 as against 5.8% in 2QFY19.
  • Depreciation charges increased by 5.2% and finance costs increased by 2.5% YoY, respectively.
  • Other income increased by 100.8% YoY during the quarter.
  • Net profit for the quarter declined by 173.9% YoY. Net profit margins during the quarter declined from 2.8% in 2QFY19 to -2.2% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 33.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 26.2% QoQ during the same period.
  • The company's operating profit declined by 104.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 0.6% in 2QFY20 as against 9.5% in 1QFY19.
  • Net profit for the quarter declined by 125.6% QoQ, while net profit margins declined from 5.8% in 1QFY19 to -2.2% in 2QFY20.

To see how EVEREST INDUSTRIES has performed over the last eight quarters,please visit here.

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EVEREST INDUSTRIES Share Price Performance

Over the last one year,EVEREST INDUSTRIES share price has moved down from Rs 464.5 to Rs 297.8, registering a Loss of Rs 166.8 or around 35.9%.

Overall, the S&P BSE SENSEX is up 15.9% over the year.

Current Valuations

At the current price of Rs 297.8, the price to earnings (P/E) ratio of EVEREST INDUSTRIES stands at 10.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.0 times.

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