EVEREADY IND. Announces Quarterly Results (1QFY20); Net Profit Down 62.7%

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EVEREADY IND. Announces Quarterly Results (1QFY20); Net Profit Down 62.7%
Tue, 20 Aug

EVEREADY IND. has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

EVEREADY IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m3,8333,1173,2103.0%-16.3%
Other incomeRs m3713874-46.3%100.6%
TurnoverRs m3,8703,2563,2850.9%-15.1%
ExpensesRs m3,4852,9972,963-1.1%-15.0%
Gross profitRs m348120247106.7%-29.1%
DepreciationRs m53557230.4%36.8%
InterestRs m971481597.1%63.9%
Profit before taxRs m236549166.5%-61.6%
TaxRs m52142258.5%-57.7%
Profit after taxRs m184406969.3%-62.7%
Gross profit margin%9.13.87.7
Effective tax rate%22.225.724.4
Net profit margin%4.71.22.1
* 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 16.3% on a year-on-year (YoY) basis. The expenses were down by 15.0% YoY during the same period.
  • The company's operating profit declined by 29.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 7.7% in 1QFY20 as against 9.1% in 1QFY19.
  • Depreciation charges increased by 36.8% and finance costs increased by 63.9% YoY, respectively.
  • Other income increased by 100.6% YoY during the quarter.
  • Net profit for the quarter declined by 62.7% YoY. Net profit margins during the quarter declined from 4.7% in 1QFY19 to 2.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 3.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 1.1% QoQ during the same period.
  • The company's operating profit increased by 106.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 7.7% in 1QFY20 as against 3.8% in 4QFY19.
  • Net profit for the quarter increased by 69.3% QoQ, while net profit margins increased from 1.2% in 4QFY19 to 2.1% in 1QFY20.

To see how EVEREADY IND. has performed over the last eight quarters,please visit here.

EVEREADY IND. Share Price Performance

Over the last one year,EVEREADY IND. share price has moved down from Rs 242.7 to Rs 77.5, registering a Loss of Rs 165.2 or around 68.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 22,788.2 (down 0.7%). Over the last one year it has moved up from 21,921.1 to 22,788.2, a gain of 867 points (up 4.0%).

Overall, the S&P BSE SENSEX is down 2.5% over the year.

Current Valuations

At the current price of Rs 77.5, the price to earnings (P/E) ratio of EVEREADY IND. stands at 15.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.6 times.

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