GRASIM Announces Quarterly Results (3QFY20); Net Profit Down 6.2%

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GRASIM Announces Quarterly Results (3QFY20); Net Profit Down 6.2%
Mon, 17 Feb

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

GRASIM Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-18*
3
Sep-19*
3
Dec-19*
QoQ ChangeYoY Change
Net SalesRs m184,185184,303192,0514.2%4.3%
Other incomeRs m1,7262,2262,4259.0%40.5%
TurnoverRs m185,911186,529194,4764.3%4.6%
ExpensesRs m156,327154,725164,7966.5%5.4%
Gross profitRs m27,85829,51627,153-8.0%-2.5%
DepreciationRs m8,3499,92710,0241.0%20.1%
InterestRs m4,6536,0465,502-9.0%18.3%
Profit before taxRs m16,58315,76914,051-10.9%-15.3%
TaxRs m5,9015,5264,037-26.9%-31.6%
Profit after taxRs m10,68110,24310,014-2.2%-6.2%
Gross profit margin%15.116.014.1
Effective tax rate%35.635.028.7
Net profit margin%5.75.55.1
* 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 4.3% on a year-on-year (YoY) basis. The expenses were up by 5.4% YoY during the same period.
  • The company's operating profit declined by 2.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 3QFY20 as against 15.1% in 3QFY19.
  • Depreciation charges increased by 20.1% and finance costs increased by 18.3% YoY, respectively.
  • Other income increased by 40.5% YoY during the quarter.
  • Net profit for the quarter declined by 6.2% YoY. Net profit margins during the quarter declined from 5.7% in 3QFY19 to 5.1% in 3QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 4.2% on a quarter-on-quarter (QoQ) basis. The expenses were up by 6.5% QoQ during the same period.
  • The company's operating profit declined by 8.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.1% in 3QFY20 as against 16.0% in 2QFY19.
  • Net profit for the quarter declined by 2.2% QoQ, while net profit margins declined from 5.5% in 2QFY19 to 5.1% in 3QFY20.

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

Revealed: Top 3 Stocks for 2020 and Beyond

GRASIM Share Price Performance

Over the last one year,GRASIM share price has moved up from Rs 706.6 to Rs 739.2, registering a Gain of Rs 32.7 or around 4.6%.

Overall, the S&P BSE SENSEX is up 14.4% over the year.

Current Valuations

At the current price of Rs 739.2, the price to earnings (P/E) ratio of GRASIM stands at 6.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.6 times.

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