EVEREADY IND. Announces Quarterly Results (3QFY19); Net Profit Down 99.1%

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EVEREADY IND. Announces Quarterly Results (3QFY19); Net Profit Down 99.1%
Wed, 20 Feb

EVEREADY IND. has announced its results for the quarter ended December 2018. Here is a detailed performance review of the same:

EVEREADY IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m3,6963,8353,792-1.1%2.6%
Other incomeRs m429386-6.7%103.9%
TurnoverRs m3,7383,9273,878-1.3%3.7%
ExpensesRs m3,3543,4243,4440.6%2.7%
Gross profitRs m342411116-71.9%-66.2%
DepreciationRs m485654-3.4%13.0%
InterestRs m6912716832.0%143.3%
Profit before taxRs m267321-20-106.2%-107.5%
TaxRs m5874-22-129.7%-138.0%
Profit after taxRs m2092472-99.2%-99.1%
Gross profit margin%9.310.73.1
Effective tax rate%21.723.1109.8
Net profit margin%5.66.30.1
* 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 2.6% on a year-on-year (YoY) basis. The expenses were up by 2.7% YoY during the same period.
  • The company's operating profit declined by 66.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.1% in 3QFY19 as against 9.3% in 3QFY18.
  • Depreciation charges increased by 13.0% and finance costs increased by 143.3% YoY, respectively.
  • Other income increased by 103.9% YoY during the quarter.
  • Net profit for the quarter declined by 99.1% YoY. Net profit margins during the quarter declined from 5.6% in 3QFY18 to 0.1% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.6% QoQ during the same period.
  • The company's operating profit declined by 71.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.1% in 3QFY19 as against 10.7% in 2QFY18.
  • Net profit for the quarter declined by 99.2% QoQ, while net profit margins declined from 6.3% in 2QFY18 to 0.1% in 3QFY19.

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 up from Rs 393.4 to Rs 200.4, registering a Loss of Rs 193.0 or around 49.1%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 21,043.6 (up 1.0%). Over the last one year it has moved down from 21,239.0 to 21,043.6, a gain of 195 points (down 0.9%).

Overall, the S&P BSE SENSEX is up 5.5% over the year.

Current Valuations

At the current price of Rs 200.4, the price to earnings (P/E) ratio of EVEREADY IND. stands at 53.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.3 times.

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