GRINDWELL NORTON Announces Quarterly Results (2QFY20); Net Profit Up 28.5%

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GRINDWELL NORTON Announces Quarterly Results (2QFY20); Net Profit Up 28.5%
Fri, 8 Nov

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

GRINDWELL NORTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-18*
3
Jun-19*
3
Sep-19*
QoQ ChangeYoY Change
Net SalesRs m4,1684,1143,923-4.6%-5.9%
Other incomeRs m49114103-9.5%110.4%
TurnoverRs m4,2174,2284,026-4.8%-4.5%
ExpensesRs m3,4603,4143,272-4.2%-5.4%
Gross profitRs m708700651-7.0%-8.0%
DepreciationRs m1131431451.7%28.4%
InterestRs m21010-7.8%313.0%
Profit before taxRs m641661599-9.3%-6.6%
TaxRs m23523277-66.9%-67.3%
Profit after taxRs m40742952321.8%28.5%
Gross profit margin%17.017.016.6
Effective tax rate%36.635.012.8
Net profit margin%9.610.213.0
* 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 5.9% on a year-on-year (YoY) basis. The expenses were down by 5.4% YoY during the same period.
  • The company's operating profit declined by 8.0% YoY during the quarter. Consequently, operating profit margins remained same and stood at 16.6% in 2QFY20.
  • Depreciation charges increased by 28.4% and finance costs increased by 313.0% YoY, respectively.
  • Other income increased by 110.4% YoY during the quarter.
  • Net profit for the quarter increased by 28.5% YoY. Net profit margins during the quarter increased from 9.6% in 2QFY19 to 13.0% in 2QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 4.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 4.2% QoQ during the same period.
  • The company's operating profit declined by 7.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.6% in 2QFY20 as against 17.0% in 1QFY19.
  • Net profit for the quarter increased by 21.8% QoQ, while net profit margins increased from 10.1% in 1QFY19 to 13.0% in 2QFY20.

To see how GRINDWELL NORTON has performed over the last eight quarters,please visit here.

Urgent New Alert: About Coming Once-in-a-generation Wealth Shift

GRINDWELL NORTON Share Price Performance

Over the last one year,GRINDWELL NORTON share price has moved up from Rs 497.7 to Rs 599.5, registering a Gain of Rs 101.8 or around 20.5%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,543.9 (up 0.3%). Over the last one year it has moved up from 18,196.5 to 18,543.9, a gain of 347 points (up 1.9%).

Overall, the S&P BSE SENSEX is up 15.1% over the year.

Current Valuations

At the current price of Rs 599.5, the price to earnings (P/E) ratio of GRINDWELL NORTON stands at 37.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.0 times.

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