FINOLEX INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 29.8%

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FINOLEX INDUSTRIES Announces Quarterly Results (1QFY20); Net Profit Down 29.8%
Tue, 13 Aug

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

FINOLEX INDUSTRIES Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m8,2789,6429,438-2.1%14.0%
Other incomeRs m13712257-53.5%-58.5%
TurnoverRs m8,4169,7659,495-2.8%12.8%
ExpensesRs m6,3408,1788,2030.3%29.4%
Gross profitRs m1,6601,4651,236-15.7%-25.6%
DepreciationRs m162177168-5.1%3.6%
InterestRs m52249-63.1%-83.4%
Profit before taxRs m1,5831,3871,116-19.5%-29.5%
TaxRs m550473391-17.3%-28.8%
Profit after taxRs m1,033914725-20.7%-29.8%
Gross profit margin%20.115.213.1
Effective tax rate%34.734.135.1
Net profit margin%12.39.47.6
* 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 14.0% on a year-on-year (YoY) basis. The expenses were up by 29.4% YoY during the same period.
  • The company's operating profit declined by 25.6% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 1QFY20 as against 20.1% in 1QFY19.
  • Depreciation charges increased by 3.6% and finance costs declined by 83.4% YoY, respectively.
  • Other income declined by 58.5% YoY during the quarter.
  • Net profit for the quarter declined by 29.8% YoY. Net profit margins during the quarter declined from 12.3% in 1QFY19 to 7.6% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.1% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.3% QoQ during the same period.
  • The company's operating profit declined by 15.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.1% in 1QFY20 as against 15.2% in 4QFY19.
  • Net profit for the quarter declined by 20.7% QoQ, while net profit margins declined from 9.4% in 4QFY19 to 7.6% in 1QFY20.

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

FINOLEX INDUSTRIES Share Price Performance

Over the last one year,FINOLEX INDUSTRIES share price has moved down from Rs 612.6 to Rs 524.0, registering a Loss of Rs 88.6 or around 14.5%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,238.1 (up 2.8%). Over the last one year it has moved down from 14,804.7 to 13,238.1, a gain of 1,567 points (down 10.6%).

Overall, the S&P BSE SENSEX is down 1.3% over the year.

Current Valuations

At the current price of Rs 524.0, the price to earnings (P/E) ratio of FINOLEX INDUSTRIES stands at 20.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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