GRINDWELL NORTON Announces Quarterly Results (3QFY20); Net Profit Up 12.8%

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GRINDWELL NORTON Announces Quarterly Results (3QFY20); Net Profit Up 12.8%
Wed, 5 Feb

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

GRINDWELL NORTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m3,9483,9234,1004.5%3.9%
Other incomeRs m11110390-12.7%-18.7%
TurnoverRs m4,0594,0264,1904.1%3.2%
ExpensesRs m3,3083,2723,4094.2%3.1%
Gross profitRs m6406516916.1%7.9%
DepreciationRs m1151451460.5%26.6%
InterestRs m410107.4%191.4%
Profit before taxRs m6325996254.3%-1.2%
TaxRs m21677155102.5%-28.2%
Profit after taxRs m416523470-10.1%12.8%
Gross profit margin%16.216.616.9
Effective tax rate%34.212.824.8
Net profit margin%10.313.011.2
* 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 3.9% on a year-on-year (YoY) basis. The expenses were up by 3.1% YoY during the same period.
  • The company's operating profit increased by 7.9% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 3QFY20 as against 16.2% in 3QFY19.
  • Depreciation charges increased by 26.6% and finance costs increased by 191.4% YoY, respectively.
  • Other income declined by 18.7% YoY during the quarter.
  • Net profit for the quarter increased by 12.8% YoY. Net profit margins during the quarter increased from 10.3% in 3QFY19 to 11.2% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.5% on a quarter-on-quarter (QoQ) basis. The expenses were up by 4.2% QoQ during the same period.
  • The company's operating profit increased by 6.1% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 3QFY20 as against 16.6% in 2QFY19.
  • Net profit for the quarter declined by 10.1% QoQ, while net profit margins declined from 13.0% in 2QFY19 to 11.2% in 3QFY20.

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 526.5 to Rs 647.6, registering a Gain of Rs 121.2 or around 23.0%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 17,107.4 (up 1.5%). Over the last one year it has moved up from 17,089.3 to 17,107.4, a gain of 18 points (up 0.1%).

Overall, the S&P BSE SENSEX is up 12.1% over the year.

Current Valuations

At the current price of Rs 647.6, the price to earnings (P/E) ratio of GRINDWELL NORTON stands at 38.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.5 times.

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