FOSECO INDIA Announces Quarterly Results (2QFY20); Net Profit Up 18.0%

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FOSECO INDIA Announces Quarterly Results (2QFY20); Net Profit Up 18.0%
Mon, 4 Nov

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

FOSECO INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m911863787-8.8%-13.6%
Other incomeRs m9192214.6%137.2%
TurnoverRs m920882809-8.3%-12.1%
ExpensesRs m776729676-7.2%-12.8%
Gross profitRs m135135111-17.4%-17.9%
DepreciationRs m1210118.8%-7.1%
InterestRs m000-100.0%-100.0%
Profit before taxRs m133144122-15.0%-8.0%
TaxRs m465120-60.9%-56.8%
Profit after taxRs m879310210.4%18.0%
Gross profit margin%14.915.614.1
Effective tax rate%34.835.516.3
Net profit margin%9.410.512.6
* 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 fell 13.6% on a year-on-year (YoY) basis. The expenses were down by 12.8% YoY during the same period.
  • The company's operating profit declined by 17.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 2QFY20 as against 14.9% in 2QFY19.
  • Depreciation charges declined by 7.1% and finance costs declined by 100.0% YoY, respectively.
  • Other income increased by 137.2% YoY during the quarter.
  • Net profit for the quarter increased by 18.0% YoY. Net profit margins during the quarter increased from 9.4% in 2QFY19 to 12.6% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 8.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.2% QoQ during the same period.
  • The company's operating profit declined by 17.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 2QFY20 as against 15.6% in 1QFY19.
  • Net profit for the quarter increased by 10.4% QoQ, while net profit margins increased from 10.5% in 1QFY19 to 12.6% in 2QFY20.

To see how FOSECO INDIA has performed over the last eight quarters,please visit here.

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FOSECO INDIA Share Price Performance

Over the last one year,FOSECO INDIA share price has moved up from Rs 1,340.6 to Rs 1,386.0, registering a Gain of Rs 45.4 or around 3.4%.

Overall, the S&P BSE SENSEX is up 17.2% over the year.

Current Valuations

At the current price of Rs 1,386.0, the price to earnings (P/E) ratio of FOSECO INDIA stands at 25.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.1 times.

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For the quarter ended September 2020, FOSECO INDIA has posted a net profit of Rs 51 m (down 50.3% YoY). Sales on the other hand came in at Rs 689 m (down 12.4% YoY). Read on for a complete analysis of FOSECO INDIA's quarterly results.

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