EXIDE INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 0.5%

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EXIDE INDUSTRIES Announces Quarterly Results (3QFY19); Net Profit Up 0.5%
Wed, 13 Feb

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

EXIDE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m22,76527,20424,968-8.2%9.7%
Other incomeRs m11111680-31.4%-27.7%
TurnoverRs m22,87627,32025,048-8.3%9.5%
ExpensesRs m19,94023,87621,843-8.5%9.5%
Gross profitRs m2,8264,4103,125-29.1%10.6%
DepreciationRs m6257688135.9%30.0%
InterestRs m9142367.4%148.4%
Profit before taxRs m2,3023,7452,369-36.7%2.9%
TaxRs m7591,060818-22.8%7.8%
Profit after taxRs m1,5432,6841,550-42.2%0.5%
Gross profit margin%12.416.212.5
Effective tax rate%33.028.334.5
Net profit margin%6.79.86.2
* 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 9.7% on a year-on-year (YoY) basis. The expenses were up by 9.5% YoY during the same period.
  • The company's operating profit increased by 10.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 12.5% in 3QFY19 as against 12.4% in 3QFY18.
  • Depreciation charges increased by 30.0% and finance costs increased by 148.4% YoY, respectively.
  • Other income declined by 27.7% YoY during the quarter.
  • Net profit for the quarter increased by 0.5% YoY. Net profit margins during the quarter declined from 6.7% in 3QFY18 to 6.2% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 8.5% QoQ during the same period.
  • The company's operating profit declined by 29.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.5% in 3QFY19 as against 16.2% in 2QFY18.
  • Net profit for the quarter declined by 42.2% QoQ, while net profit margins declined from 9.8% in 2QFY18 to 6.2% in 3QFY19.

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

EXIDE INDUSTRIES Share Price Performance

Over the last one year, EXIDE INDUSTRIES share price has moved up from Rs 212.7 to Rs 206.7, registering a Loss of Rs 6.0 or around 2.8%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 206.7, the price to earnings (P/E) ratio of EXIDE INDUSTRIES stands at 21.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.2 times.

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