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GRINDWELL NORTON Announces Quarterly Results (4QFY19); Net Profit Down 3.4%

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GRINDWELL NORTON Announces Quarterly Results (4QFY19); Net Profit Down 3.4%
Mon, 3 Jun

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

GRINDWELL NORTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m3,8353,9484,0532.7%5.7%
Other incomeRs m63111106-4.2%68.0%
TurnoverRs m3,8984,0594,1592.5%6.7%
ExpensesRs m3,1093,3083,3762.1%8.6%
Gross profitRs m7266406775.8%-6.8%
DepreciationRs m111115114-1.3%2.3%
InterestRs m34791.4%157.7%
Profit before taxRs m6766326634.8%-1.9%
TaxRs m2322162358.6%0.9%
Profit after taxRs m4434164282.9%-3.4%
Gross profit margin%18.916.216.7
Effective tax rate%34.434.235.4
Net profit margin%11.410.310.3
* 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 grew 5.7% on a year-on-year (YoY) basis. The expenses were up by 8.6% YoY during the same period.
  • The company's operating profit declined by 6.8% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.7% in 4QFY19 as against 18.9% in 4QFY18.
  • Depreciation charges increased by 2.3% and finance costs increased by 157.7% YoY, respectively.
  • Other income increased by 68.0% YoY during the quarter.
  • Net profit for the quarter declined by 3.4% YoY. Net profit margins during the quarter declined from 11.4% in 4QFY18 to 10.3% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 2.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 2.1% QoQ during the same period.
  • The company's operating profit increased by 5.8% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.7% in 4QFY19 as against 16.2% in 3QFY18.
  • Net profit for the quarter increased by 2.9% QoQ, while net profit margins increased from 10.2% in 3QFY18 to 10.3% in 4QFY19.

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

GRINDWELL NORTON Share Price Performance

Over the last one year, GRINDWELL NORTON share price has moved up from Rs 497.9 to Rs 586.0, registering a Gain of Rs 88.1 or around 17.7%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 19,937.6 (down 0.0%). Over the last one year it has moved up from 18,694.9 to 19,937.6, a gain of 1,243 points (up 6.6%).

Overall, the S&P BSE SENSEX is up 13.3% over the year.

Current Valuations

At the current price of Rs 586.0, the price to earnings (P/E) ratio of GRINDWELL NORTON stands at 38.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 6.6 times.

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