GRINDWELL NORTON Announces Quarterly Results (4QFY20); Net Profit Down 2.5%

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GRINDWELL NORTON Announces Quarterly Results (4QFY20); Net Profit Down 2.5%
Thu, 21 May

GRINDWELL NORTON has announced its results for the quarter ended March 2020. Here is a detailed performance review of the same:

GRINDWELL NORTON Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-19*
3
Dec-19*
3
Mar-20*
QoQ ChangeYoY Change
Net SalesRs m4,0534,1003,659-10.8%-9.7%
Other incomeRs m10690977.4%-8.8%
TurnoverRs m4,1594,1903,756-10.4%-9.7%
ExpensesRs m3,3763,4093,056-10.4%-9.5%
Gross profitRs m677691603-12.7%-10.9%
DepreciationRs m114146143-1.8%25.9%
InterestRs m7101544.1%119.4%
Profit before taxRs m663625542-13.3%-18.2%
TaxRs m235155124-19.9%-47.0%
Profit after taxRs m428470418-11.1%-2.5%
Gross profit margin%16.716.916.5
Effective tax rate%35.424.822.9
Net profit margin%10.311.211.1
* 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 9.7% on a year-on-year (YoY) basis. The expenses were down by 9.5% YoY during the same period.
  • The company's operating profit declined by 10.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.5% in 4QFY20 as against 16.7% in 4QFY19.
  • Depreciation charges increased by 25.9% and finance costs increased by 119.4% YoY, respectively.
  • Other income declined by 8.8% YoY during the quarter.
  • Net profit for the quarter declined by 2.5% YoY. Net profit margins during the quarter increased from 10.3% in 4QFY19 to 11.1% in 4QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.8% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.4% QoQ during the same period.
  • The company's operating profit declined by 12.7% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.5% in 4QFY20 as against 16.9% in 3QFY19.
  • Net profit for the quarter declined by 11.1% QoQ, while net profit margins declined from 11.2% in 3QFY19 to 11.1% in 4QFY20.

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

Tomorrow at 5pm: Get the details of India's #1 defence stock

GRINDWELL NORTON Share Price Performance

Over the last one year,GRINDWELL NORTON share price has moved down from Rs 597.2 to Rs 477.1, registering a Loss of Rs 120.1 or around 20.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 11,231.1 (down 0.6%). Over the last one year it has moved down from 18,623.4 to 11,231.1, a loss of 7,392 points (down 39.7%).

Overall, the S&P BSE SENSEX is down 21.1% over the year.

Current Valuations

At the current price of Rs 477.1, the price to earnings (P/E) ratio of GRINDWELL NORTON stands at 28.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.8 times.

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