EXIDE INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 80.4%

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EXIDE INDUSTRIES Announces Quarterly Results (1QFY21); Net Profit Down 80.4%
Mon, 24 Aug

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

EXIDE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m27,79320,55115,476-24.7%-44.3%
Other incomeRs m16416970-58.2%-57.1%
TurnoverRs m27,95720,72015,547-25.0%-44.4%
ExpensesRs m23,71617,84913,992-21.6%-41.0%
Gross profitRs m4,0772,7021,485-45.1%-63.6%
DepreciationRs m864939914-2.7%5.7%
InterestRs m183714-61.8%-21.2%
Profit before taxRs m3,3591,895627-66.9%-81.3%
TaxRs m1,116215188-12.8%-83.2%
Profit after taxRs m2,2431,680440-73.8%-80.4%
Gross profit margin%14.713.19.6
Effective tax rate%33.211.429.9
Net profit margin%8.08.12.8
* 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 44.3% on a year-on-year (YoY) basis. The expenses were down by 41.0% YoY during the same period.
  • The company's operating profit declined by 63.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 1QFY21 as against 14.7% in 1QFY20.
  • Depreciation charges increased by 5.7% and finance costs declined by 21.2% YoY, respectively.
  • Other income declined by 57.1% YoY during the quarter.
  • Net profit for the quarter declined by 80.4% YoY. Net profit margins during the quarter declined from 8.0% in 1QFY20 to 2.8% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 24.7% on a quarter-on-quarter (QoQ) basis. The expenses were down by 21.6% QoQ during the same period.
  • The company's operating profit declined by 45.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.6% in 1QFY21 as against 13.1% in 4QFY20.
  • Net profit for the quarter declined by 73.8% QoQ, while net profit margins declined from 8.1% in 4QFY20 to 2.8% in 1QFY21.

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

Discover: India's #1 Defence Stock

EXIDE INDUSTRIES Share Price Performance

Over the last one year,EXIDE INDUSTRIES share price has moved down from Rs 177.2 to Rs 174.5, registering a Loss of Rs 2.7 or around 1.5%.

Overall, the S&P BSE SENSEX is up 4.7% over the year.

Current Valuations

At the current price of Rs 174.5, the price to earnings (P/E) ratio of EXIDE INDUSTRIES stands at 23.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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