EVEREADY INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Down 44.3%

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EVEREADY INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Down 44.3%
Thu, 11 Feb

EVEREADY INDUSTRIES has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

EVEREADY INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m3,1743,7263,403-8.7%7.2%
Other incomeRs m1051091144.0%8.1%
TurnoverRs m3,2803,8363,517-8.3%7.2%
ExpensesRs m2,8132,9692,719-8.4%-3.3%
Gross profitRs m1,257758684-9.7%-45.6%
DepreciationRs m707068-3.8%-3.3%
InterestRs m181145119-18.0%-34.4%
Profit before taxRs m1,111652611-6.2%-45.0%
TaxRs m2057210749.2%-47.8%
Profit after taxRs m906580504-13.1%-44.3%
Gross profit margin%39.620.320.1
Effective tax rate%18.511.017.5
Net profit margin%27.615.114.3
* 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 7.2% on a year-on-year (YoY) basis. The expenses were down by 3.3% YoY during the same period.
  • The company's operating profit declined by 45.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.1% in 3QFY21 as against 39.6% in 3QFY20.
  • Depreciation charges declined by 3.3% and finance costs declined by 34.4% YoY, respectively.
  • Other income increased by 8.1% YoY during the quarter.
  • Net profit for the quarter declined by 44.3% YoY. Net profit margins during the quarter declined from 27.6% in 3QFY20 to 14.3% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.4% QoQ during the same period.
  • The company's operating profit declined by 9.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 20.1% in 3QFY21 as against 20.3% in 2QFY20.
  • Net profit for the quarter declined by 13.1% QoQ, while net profit margins declined from 15.1% in 2QFY20 to 14.3% in 3QFY21.

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

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EVEREADY INDUSTRIES Share Price Performance

Over the last one year, EVEREADY INDUSTRIES share price has moved up from Rs 63.1 to Rs 229.5, registering a Gain of Rs 166.4 or around 263.7%.

Meanwhile, the S&P BSE CONSUMER DURABLES Index is trading at Rs 33,119.4 (down 0.6%). Over the last one year it has moved up from 26,812.2 to 33,119.4, a gain of 6,307 points (up 23.5%).

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 229.5, the price to earnings (P/E) ratio of EVEREADY INDUSTRIES stands at 8.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.0 times.

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