EXIDE INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 11.6%

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EXIDE INDUSTRIES Announces Quarterly Results (2QFY20); Net Profit Down 11.6%
Thu, 14 Nov

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

EXIDE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m27,20427,79326,109-6.1%-4.0%
Other incomeRs m11616456-66.2%-52.3%
TurnoverRs m27,32027,95726,164-6.4%-4.2%
ExpensesRs m23,87623,71622,436-5.4%-6.0%
Gross profitRs m4,4104,0773,672-9.9%-16.7%
DepreciationRs m7688648983.9%16.9%
InterestRs m141818-0.6%29.0%
Profit before taxRs m3,7453,3592,812-16.3%-24.9%
TaxRs m1,0601,116439-60.7%-58.6%
Profit after taxRs m2,6842,2432,3735.8%-11.6%
Gross profit margin%16.214.714.1
Effective tax rate%28.333.215.6
Net profit margin%9.88.09.1
* 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 4.0% on a year-on-year (YoY) basis. The expenses were down by 6.0% YoY during the same period.
  • The company's operating profit declined by 16.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 2QFY20 as against 16.2% in 2QFY19.
  • Depreciation charges increased by 16.9% and finance costs increased by 29.0% YoY, respectively.
  • Other income declined by 52.3% YoY during the quarter.
  • Net profit for the quarter declined by 11.6% YoY. Net profit margins during the quarter declined from 9.8% in 2QFY19 to 9.1% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 6.1% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.4% QoQ during the same period.
  • The company's operating profit declined by 9.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 2QFY20 as against 14.7% in 1QFY19.
  • Net profit for the quarter increased by 5.8% QoQ, while net profit margins increased from 8.0% in 1QFY19 to 9.1% in 2QFY20.

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

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EXIDE INDUSTRIES Share Price Performance

Over the last one year,EXIDE INDUSTRIES share price has moved down from Rs 251.4 to Rs 190.2, registering a Loss of Rs 61.2 or around 24.3%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 190.2, the price to earnings (P/E) ratio of EXIDE INDUSTRIES stands at 19.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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