FINOLEX CABLES Announces Quarterly Results (1QFY20); Net Profit Down 9.7%

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FINOLEX CABLES Announces Quarterly Results (1QFY20); Net Profit Down 9.7%
Wed, 21 Aug

FINOLEX CABLES has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

FINOLEX CABLES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m7,9128,2318,077-1.9%2.1%
Other incomeRs m201240220-8.3%9.3%
TurnoverRs m8,1138,4718,297-2.0%2.3%
ExpensesRs m6,6146,9687,0170.7%6.1%
Gross profitRs m1,2981,2631,060-16.1%-18.3%
DepreciationRs m9710199-1.5%1.6%
InterestRs m332-18.5%-26.7%
Profit before taxRs m1,3981,3991,179-15.8%-15.7%
TaxRs m495550363-34.1%-26.7%
Profit after taxRs m903849816-3.9%-9.7%
Gross profit margin%16.415.313.1
Effective tax rate%35.439.330.8
Net profit margin%11.110.09.8
* 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 grew 2.1% on a year-on-year (YoY) basis. The expenses were up by 6.1% YoY during the same period.
  • The company's operating profit declined by 18.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 1QFY20 as against 16.4% in 1QFY19.
  • Depreciation charges increased by 1.6% and finance costs declined by 26.7% YoY, respectively.
  • Other income increased by 9.3% YoY during the quarter.
  • Net profit for the quarter declined by 9.7% YoY. Net profit margins during the quarter declined from 11.1% in 1QFY19 to 9.8% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 1.9% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.7% QoQ during the same period.
  • The company's operating profit declined by 16.1% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 1QFY20 as against 15.3% in 4QFY19.
  • Net profit for the quarter declined by 3.9% QoQ, while net profit margins declined from 10.0% in 4QFY19 to 9.8% in 1QFY20.

To see how FINOLEX CABLES has performed over the last eight quarters,please visit here.

FINOLEX CABLES Share Price Performance

Over the last one year,FINOLEX CABLES share price has moved down from Rs 581.9 to Rs 370.8, registering a Loss of Rs 211.1 or around 36.3%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 16,933.1 (down 0.5%). Over the last one year it has moved down from 18,572.4 to 16,933.1, a gain of 1,639 points (down 8.8%).

Overall, the S&P BSE SENSEX is down 2.4% over the year.

Current Valuations

At the current price of Rs 370.8, the price to earnings (P/E) ratio of FINOLEX CABLES stands at 16.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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