GRASIM Announces Quarterly Results (1QFY20); Net Profit Up 24.2%

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GRASIM Announces Quarterly Results (1QFY20); Net Profit Up 24.2%
Mon, 26 Aug

GRASIM has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

GRASIM Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m168,567209,653188,609-10.0%11.9%
Other incomeRs m2,3302,0892,30910.6%-0.9%
TurnoverRs m170,897211,741190,919-9.8%11.7%
ExpensesRs m138,781173,884148,754-14.5%7.2%
Gross profitRs m30,20332,79138,76318.2%28.3%
DepreciationRs m7,6718,5949,1977.0%19.9%
InterestRs m4,0634,9945,3126.4%30.7%
Profit before taxRs m20,79921,29126,56324.8%27.7%
TaxRs m6,8038,0959,18113.4%34.9%
Profit after taxRs m13,99513,19617,38231.7%24.2%
Gross profit margin%17.915.620.6
Effective tax rate%32.738.034.6
Net profit margin%8.26.29.1
* 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 grew 11.9% on a year-on-year (YoY) basis. The expenses were up by 7.2% YoY during the same period.
  • The company's operating profit increased by 28.3% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.6% in 1QFY20 as against 17.9% in 1QFY19.
  • Depreciation charges increased by 19.9% and finance costs increased by 30.7% YoY, respectively.
  • Other income declined by 0.9% YoY during the quarter.
  • Net profit for the quarter increased by 24.2% YoY. Net profit margins during the quarter increased from 8.2% in 1QFY19 to 9.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 14.5% QoQ during the same period.
  • The company's operating profit increased by 18.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 20.6% in 1QFY20 as against 15.6% in 4QFY19.
  • Net profit for the quarter increased by 31.7% QoQ, while net profit margins increased from 6.2% in 4QFY19 to 9.1% in 1QFY20.

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

GRASIM Share Price Performance

Over the last one year,GRASIM share price has moved down from Rs 1,060.3 to Rs 716.2, registering a Loss of Rs 344.1 or around 32.5%.

Overall, the S&P BSE SENSEX is down 3.9% over the year.

Current Valuations

At the current price of Rs 716.2, the price to earnings (P/E) ratio of GRASIM stands at 11.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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