GRASIM Announces Quarterly Results (1QFY21); Net Profit Down 65.6%

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GRASIM Announces Quarterly Results (1QFY21); Net Profit Down 65.6%
Thu, 10 Sep

GRASIM has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

GRASIM Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m188,609199,015136,211-31.6%-27.8%
Other incomeRs m2,3092,7313,76838.0%63.2%
TurnoverRs m190,919201,746139,979-30.6%-26.7%
ExpensesRs m148,754169,317113,846-32.8%-23.5%
Gross profitRs m38,76317,07220,21418.4%-47.9%
DepreciationRs m9,19710,3699,857-4.9%7.2%
InterestRs m5,3125,9084,905-17.0%-7.7%
Profit before taxRs m26,5633,5269,220161.5%-65.3%
TaxRs m9,181-19,2553,239-64.7%
Profit after taxRs m17,38222,7815,982-73.7%-65.6%
Gross profit margin%20.68.614.8
Effective tax rate%34.6-546.135.1
Net profit margin%9.111.34.3
* 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 fell 27.8% on a year-on-year (YoY) basis. The expenses were down by 23.5% YoY during the same period.
  • The company's operating profit declined by 47.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.8% in 1QFY21 as against 20.6% in 1QFY20.
  • Depreciation charges increased by 7.2% and finance costs declined by 7.7% YoY, respectively.
  • Other income increased by 63.2% YoY during the quarter.
  • Net profit for the quarter declined by 65.6% YoY. Net profit margins during the quarter declined from 9.1% in 1QFY20 to 4.3% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 31.6% on a quarter-on-quarter (QoQ) basis. The expenses were down by 32.8% QoQ during the same period.
  • The company's operating profit increased by 18.4% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 14.8% in 1QFY21 as against 8.6% in 4QFY20.
  • Net profit for the quarter declined by 73.7% QoQ, while net profit margins declined from 11.3% in 4QFY20 to 4.3% in 1QFY21.

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

Know More: Is India's Economic Recovery Sustainable?

GRASIM Share Price Performance

Over the last one year,GRASIM share price has moved down from Rs 705.4 to Rs 691.2, registering a Loss of Rs 14.2 or around 2.0%.

Overall, the S&P BSE SENSEX is up 3.5% over the year.

Current Valuations

At the current price of Rs 691.2, the price to earnings (P/E) ratio of GRASIM stands at 6.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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