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GRASIM IND. Announces Quarterly Results (1QFY19); Net Profit Up 12.0%

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GRASIM IND. Announces Quarterly Results (1QFY19); Net Profit Up 12.0%
Thu, 16 Aug

GRASIM IND. has announced its results for the quarter ended June 2018. Here is a detailed performance review of the same:

GRASIM IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-17*
3
Mar-18*
3
Jun-18*
QoQ ChangeYoY Change
Net SalesRs m109,861174,380168,567-3.3%53.4%
Other incomeRs m2,3612,5392,330-8.2%-1.3%
TurnoverRs m112,222176,918170,897-3.4%52.3%
ExpensesRs m88,033147,307138,781-5.8%57.6%
Gross profitRs m21,51323,93630,20326.2%40.4%
DepreciationRs m4,4327,7077,671-0.5%73.1%
InterestRs m1,4953,9194,0633.7%171.8%
Profit before taxRs m17,94814,84820,79940.1%15.9%
TaxRs m5,4564,8796,80339.4%24.7%
Profit after taxRs m12,4919,96913,99540.4%12.0%
Gross profit margin%19.613.717.9
Effective tax rate%30.432.932.7
Net profit margin%11.15.68.2
* 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 53.4% on a year-on-year (YoY) basis. The expenses were up by 57.6% YoY during the same period.
  • The company's operating profit increased by 40.4% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.9% in 1QFY19 as against 19.6% in 1QFY18.
  • Depreciation charges and finance costs increased by 73.1% YoY and 171.8% YoY, respectively.
  • Other income declined by 1.3% YoY during the quarter.
  • Net profit for the quarter increased by 12.0% YoY. Net profit margins during the quarter declined from 11.1% in 1QFY18 to 8.2% in 1QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.3% on a quarter-on-quarter (QoQ) basis. The expenses were down by 5.8% QoQ during the same period.
  • The company's operating profit increased by 26.2% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.9% in 1QFY19 as against 13.7% in 4QFY18.
  • Net profit for the quarter increased by 40.4% QoQ, while net profit margins increased from 5.6% in 4QFY18 to 8.2% in 1QFY19.

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

GRASIM IND. Share Price Performance

Over the last one year, GRASIM IND. share price has moved up from Rs 1,104.3 to Rs 998.2, registering a Loss of Rs 106.2 or around 9.6%.

Overall, the S&P BSE SENSEX is up 20.0% over the year.

Current Valuations

At the current price of Rs 998.2, the price to earnings (P/E) ratio of GRASIM IND. stands at 10.2 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.5 times.

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For the quarter ended March 2019, GRASIM has posted a net profit of Rs 13 bn (up 32.4% YoY). Sales on the other hand came in at Rs 210 bn (up 20.2% YoY). Read on for a complete analysis of GRASIM's quarterly results.

GRASIM IND. Announces Quarterly Results (3QFY19); Net Profit Down 5.1% (Quarterly Result Update)

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