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GRASIM Announces Quarterly Results (4QFY19); Net Profit Up 32.4%

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GRASIM Announces Quarterly Results (4QFY19); Net Profit Up 32.4%
Mon, 27 May

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

GRASIM Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-18*
3
Dec-18*
3
Mar-19*
QoQ ChangeYoY Change
Net SalesRs m174,380184,185209,65313.8%20.2%
Other incomeRs m2,5391,7262,08921.0%-17.7%
TurnoverRs m176,918185,911211,74113.9%19.7%
ExpensesRs m147,307156,327173,88411.2%18.0%
Gross profitRs m23,93627,85832,79117.7%37.0%
DepreciationRs m7,7078,3498,5942.9%11.5%
InterestRs m3,9194,6534,9947.3%27.4%
Profit before taxRs m14,84816,58321,29128.4%43.4%
TaxRs m4,8795,9018,09537.2%65.9%
Profit after taxRs m9,96910,68113,19623.5%32.4%
Gross profit margin%13.715.115.6
Effective tax rate%32.935.638.0
Net profit margin%5.65.76.2
* 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 20.2% on a year-on-year (YoY) basis. The expenses were up by 18.0% YoY during the same period.
  • The company's operating profit increased by 37.0% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 4QFY19 as against 13.7% in 4QFY18.
  • Depreciation charges increased by 11.5% and finance costs increased by 27.4% YoY, respectively.
  • Other income declined by 17.7% YoY during the quarter.
  • Net profit for the quarter increased by 32.4% YoY. Net profit margins during the quarter increased from 5.6% in 4QFY18 to 6.2% in 4QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 13.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.2% QoQ during the same period.
  • The company's operating profit increased by 17.7% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 15.6% in 4QFY19 as against 15.1% in 3QFY18.
  • Net profit for the quarter increased by 23.5% QoQ, while net profit margins increased from 5.7% in 3QFY18 to 6.2% in 4QFY19.

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 up from Rs 1,030.2 to Rs 925.1, registering a Loss of Rs 105.1 or around 10.2%.

Overall, the S&P BSE SENSEX is up 14.3% over the year.

Current Valuations

At the current price of Rs 925.1, the price to earnings (P/E) ratio of GRASIM stands at 17.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 0.8 times.

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