GRASIM Announces Quarterly Results (4QFY21); Net Profit Up 12.4%

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GRASIM Announces Quarterly Results (4QFY21); Net Profit Up 12.4%
Thu, 8 Jul

GRASIM has announced its results for the quarter ended March 2021. Here is a detailed performance review of the same:

GRASIM Quarterly Financials

No. of Mths
Qtr. Ending
3
Mar-20*
3
Dec-20*
3
Mar-21*
QoQ ChangeYoY Change
Net SalesRs m193,495209,864243,98916.3%26.1%
Other incomeRs m2,7323,3041,306-60.5%-52.2%
TurnoverRs m196,227213,167245,29515.1%25.0%
ExpensesRs m153,150159,068185,00516.3%20.8%
Gross profitRs m27,48050,79558,36314.9%112.4%
DepreciationRs m10,27110,07210,4323.6%1.6%
InterestRs m17,11313,64813,435-1.6%-21.5%
Profit before taxRs m2,82830,38035,80317.9%1166.0%
TaxRs m-19,5539,77510,6418.9%
Profit after taxRs m22,38120,60525,16222.1%12.4%
Gross profit margin%14.224.223.9
Effective tax rate%-691.432.229.7
Net profit margin%11.49.710.3
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 26.1% on a year-on-year (YoY) basis. The expenses were up by 20.8% YoY during the same period.
  • The company's operating profit increased by 112.4% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.9% in 4QFY21 as against 14.2% in 4QFY20.
  • Depreciation charges increased by 1.6% and finance costs declined by 21.5% YoY, respectively.
  • Other income declined by 52.2% YoY during the quarter.
  • Net profit for the quarter increased by 12.4% YoY. Net profit margins during the quarter declined from 11.4% in 4QFY20 to 10.3% in 4QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 16.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 16.3% QoQ during the same period.
  • The company's operating profit increased by 14.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 23.9% in 4QFY21 as against 24.2% in 3QFY20.
  • Net profit for the quarter increased by 22.1% QoQ, while net profit margins increased from 9.7% in 3QFY20 to 10.3% in 4QFY21.

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

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GRASIM Share Price Performance

Over the last one year, GRASIM share price has moved up from Rs 608.5 to Rs 1,477.8, registering a Gain of Rs 869.4 or around 142.9%.

Overall, the S&P BSE SENSEX is up 44.3% over the year.

Current Valuations

At the current price of Rs 1,477.8, the price to earnings (P/E) ratio of GRASIM stands at 15.3 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.7 times.

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