KANSAI NEROLAC Announces Quarterly Results (1QFY21); Net Profit Down 71.1%

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KANSAI NEROLAC Announces Quarterly Results (1QFY21); Net Profit Down 71.1%
Fri, 21 Aug

KANSAI NEROLAC has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

KANSAI NEROLAC Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m14,6359,8805,981-39.5%-59.1%
Other incomeRs m65407998.7%21.8%
TurnoverRs m14,7009,9206,060-38.9%-58.8%
ExpensesRs m12,1458,6035,175-39.8%-57.4%
Gross profitRs m2,4901,278805-37.0%-67.7%
DepreciationRs m278320318-0.7%14.6%
InterestRs m1313132.3%4.8%
Profit before taxRs m2,265985553-43.8%-75.6%
TaxRs m786270126-53.4%-84.0%
Profit after taxRs m1,479715427-40.2%-71.1%
Gross profit margin%17.012.913.5
Effective tax rate%34.727.422.8
Net profit margin%10.17.27.0
* 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 59.1% on a year-on-year (YoY) basis. The expenses were down by 57.4% YoY during the same period.
  • The company's operating profit declined by 67.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.5% in 1QFY21 as against 17.0% in 1QFY20.
  • Depreciation charges increased by 14.6% and finance costs increased by 4.8% YoY, respectively.
  • Other income increased by 21.8% YoY during the quarter.
  • Net profit for the quarter declined by 71.1% YoY. Net profit margins during the quarter declined from 10.1% in 1QFY20 to 7.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 39.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 39.8% QoQ during the same period.
  • The company's operating profit declined by 37.0% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 13.5% in 1QFY21 as against 12.9% in 4QFY20.
  • Net profit for the quarter declined by 40.2% QoQ, while net profit margins declined from 7.2% in 4QFY20 to 7.0% in 1QFY21.

To see how KANSAI NEROLAC has performed over the last eight quarters,please visit here.

Know More: Is India's Economic Recovery Sustainable?

KANSAI NEROLAC Share Price Performance

Over the last one year,KANSAI NEROLAC share price has moved up from Rs 471.8 to Rs 479.7, registering a Gain of Rs 7.9 or around 1.7%.

Overall, the S&P BSE SENSEX is up 3.2% over the year.

Current Valuations

At the current price of Rs 479.7, the price to earnings (P/E) ratio of KANSAI NEROLAC stands at 60.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.6 times.

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