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: How to Potentially Increase Your Monthly Income Without Working 24x7

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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