EXIDE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 23.2%

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EXIDE INDUSTRIES Announces Quarterly Results (3QFY21); Net Profit Up 23.2%
Mon, 1 Feb

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

EXIDE INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m24,11527,53428,0101.7%16.2%
Other incomeRs m25114820136.1%-20.0%
TurnoverRs m24,36627,68228,2111.9%15.8%
ExpensesRs m20,91623,61423,9821.6%14.7%
Gross profitRs m2,9813,9204,0282.7%35.1%
DepreciationRs m925953953-0.1%2.9%
InterestRs m21637620.9%254.7%
Profit before taxRs m2,2863,0523,2004.9%40.0%
TaxRs m3267647862.9%140.8%
Profit after taxRs m1,9592,2882,4145.5%23.2%
Gross profit margin%12.414.214.4
Effective tax rate%14.325.024.6
Net profit margin%8.08.38.6
* 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 16.2% on a year-on-year (YoY) basis. The expenses were up by 14.7% YoY during the same period.
  • The company's operating profit increased by 35.1% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.4% in 3QFY21 as against 12.4% in 3QFY20.
  • Depreciation charges increased by 2.9% and finance costs increased by 254.7% YoY, respectively.
  • Other income declined by 20.0% YoY during the quarter.
  • Net profit for the quarter increased by 23.2% YoY. Net profit margins during the quarter increased from 8.0% in 3QFY20 to 8.6% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 1.6% QoQ during the same period.
  • The company's operating profit increased by 2.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.4% in 3QFY21 as against 14.2% in 2QFY20.
  • Net profit for the quarter increased by 5.5% QoQ, while net profit margins increased from 8.3% in 2QFY20 to 8.6% in 3QFY21.

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 up from Rs 192.2 to Rs 195.8, registering a Gain of Rs 3.6 or around 1.8%.

Overall, the S&P BSE SENSEX is up 18.5% over the year.

Current Valuations

At the current price of Rs 195.8, the price to earnings (P/E) ratio of EXIDE INDUSTRIES stands at 24.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.6 times.

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