FOSECO INDIA Announces Quarterly Results (2QFY21); Net Profit Down 50.3%

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FOSECO INDIA Announces Quarterly Results (2QFY21); Net Profit Down 50.3%
Wed, 28 Oct

FOSECO INDIA has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

FOSECO INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m787277689149.3%-12.4%
Other incomeRs m22239-60.9%-59.1%
TurnoverRs m809299698133.3%-13.7%
ExpensesRs m67632361490.0%-9.2%
Gross profitRs m111-4676-31.7%
DepreciationRs m1115168.6%44.5%
InterestRs m0000.0%0.0%
Profit before taxRs m122-3869-43.4%
TaxRs m20-918-8.4%
Profit after taxRs m102-2951-50.3%
Gross profit margin%14.1-16.811.0
Effective tax rate%16.323.226.4
Net profit margin%12.6-9.87.3
* 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 12.4% on a year-on-year (YoY) basis. The expenses were down by 9.2% YoY during the same period.
  • The company's operating profit declined by 31.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 11.0% in 2QFY21 as against 14.1% in 2QFY20.
  • Depreciation charges increased by 44.5% and finance costs increased by 0.0% YoY, respectively.
  • Other income declined by 59.1% YoY during the quarter.
  • Net profit for the quarter declined by 50.3% YoY. Net profit margins during the quarter declined from 12.6% in 2QFY20 to 7.3% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 149.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 90.0% QoQ during the same period.
  • The company's operating profit declined by 263.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 11.0% in 2QFY21 as against 16.8% in 1QFY20.
  • Net profit for the quarter increased by 273.8% QoQ, while net profit margins increased from -9.7% in 1QFY20 to 7.3% in 2QFY21.

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 down from Rs 1,366.6 to Rs 1,195.0, registering a Loss of Rs 171.6 or around 12.6%.

Overall, the S&P BSE SENSEX is up 2.9% over the year.

Current Valuations

At the current price of Rs 1,195.0, the price to earnings (P/E) ratio of FOSECO INDIA stands at 52.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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For the quarter ended March 2020, FOSECO INDIA has posted a net profit of Rs 61 m (down 29.5% YoY). Sales on the other hand came in at Rs 721 m (down 14.4% YoY). Read on for a complete analysis of FOSECO INDIA's quarterly results.

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Dec 2, 2020 (Close)

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