KANSAI NEROLAC Announces Quarterly Results (4QFY19); Net Profit Down 12.3%

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KANSAI NEROLAC Announces Quarterly Results (4QFY19); Net Profit Down 12.3%
Fri, 3 May

KANSAI NEROLAC has announced its results for the quarter ended March 2019. Here is a detailed performance review of the same:

KANSAI NEROLAC Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m11,03613,43611,420-15.0%3.5%
Other incomeRs m186269256-4.6%37.6%
TurnoverRs m11,22213,70511,676-14.8%4.0%
ExpensesRs m9,34611,73710,035-14.5%7.4%
Gross profitRs m1,6891,7001,385-18.5%-18.0%
DepreciationRs m197235235-0.1%19.4%
InterestRs m0000.0%0.0%
Profit before taxRs m1,6791,7331,406-18.9%-16.3%
TaxRs m621606478-21.2%-23.0%
Profit after taxRs m1,0581,127928-17.6%-12.3%
Gross profit margin%15.312.612.1
Effective tax rate%37.035.034.0
Net profit margin%9.48.27.9
* 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 3.5% on a year-on-year (YoY) basis. The expenses were up by 7.4% YoY during the same period.
  • The company's operating profit declined by 18.0% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 4QFY19 as against 15.3% in 4QFY18.
  • Depreciation charges increased by 19.4% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 37.6% YoY during the quarter.
  • Net profit for the quarter declined by 12.3% YoY. Net profit margins during the quarter declined from 9.4% in 4QFY18 to 7.9% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 15.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.5% QoQ during the same period.
  • The company's operating profit declined by 18.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.1% in 4QFY19 as against 12.6% in 3QFY18.
  • Net profit for the quarter declined by 17.6% QoQ, while net profit margins declined from 8.2% in 3QFY18 to 7.9% in 4QFY19.

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

KANSAI NEROLAC Share Price Performance

Over the last one year, KANSAI NEROLAC share price has moved up from Rs 505.7 to Rs 420.5, registering a Loss of Rs 85.2 or around 16.8%.

Overall, the S&P BSE SENSEX is up 10.8% over the year.

Current Valuations

At the current price of Rs 420.5, the price to earnings (P/E) ratio of KANSAI NEROLAC stands at 48.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.2 times.

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